FINRA Sanctions, Investor Claims Disclosed By Kevin Cory

Soreide Law Group is conducting an investigation on behalf of investors who have incurred losses potentially due to the actions of securities broker Kevin Cory (CRD: 1716966, New York, New York). Specifically, Cory worked for R. F. Lafferty & Co., Inc. from August 15, 2017, to February 10, 2022. Particularly, the Financial Industry Regulatory Authority (FINRA) issued a case on May 26, 2023, sanctioning Kevin Cory for alleged misrepresentations and omissions. Additionally, a Chapin, Davis client has accused Cory of mishandling their retirement savings.

Cory Sanctioned By FINRA For Misrepresenting And Omitting Material Facts

Evidently, FINRA issued Case 2022073802901 on May 26, 2023, sanctioning Kevin Cory for specific wrongdoings. Allegedly, Cory misled his former clients by misrepresenting facts and omitting material details concerning their investments. He purportedly persuaded a married couple to invest $500,000 of their retirement funds in a so-called investment fund that he managed. Instead of investing in global equities as initially claimed, Cory supposedly channeled these funds into loans to various small businesses, some of which were owned by himself or managed by his associates. Notably, these businesses reportedly defaulted on the loans, leaving the fund asset-less and ultimately causing its corporate registrations to be canceled. Moreover, Cory purportedly produced fake account statements to mislead his clients about the value of their investment. Consequently, Cory received a permanent bar as a securities broker.

Chapin, Davis Investor Accused Kevin Cory Of Using Retirement Savings For Personal Living Expenses

Specifically, a Chapin, Davis client filed Civil Suit: C-03-CV-20-003468 about Kevin Cory. The client claimed that Cory encouraged them to invest their retirement savings in a limited partnership he created, allegedly without the firm's approval. Supposedly, instead of investing these funds, Cory used them for his own living expenses. The clients also allege that Cory ceased communication with them in August 2019. Because of these actions, the client reportedly incurred damages on DPPs and LPs. Therefore, on June 1, 2022, Chapin, Davis settled this matter by paying the client $250,000 in damages.

Have You Incurred Losses Due To Cory?

Did you experience losses because of Kevin Cory? If so, reach out to Soreide Law Group online or at (888) 760-6552 and speak with a securities attorney concerning a potential recovery. Soreide Law Group has a successful history of recovering losses for investors throughout the United States. We work on a contingency fee basis and advance all costs. Cory and the brokerage firms he worked for deny accusations of sales practice violations.