Investors might have sustained losses due to securities broker Leroy Born [CRD: 4052650, Tustin, California], according to disclosures on FINRA BrokerCheck. Evidently, Leroy Born has worked for Wells Fargo Clearing Services LLC since June 23, 2017, and has also worked for Wells Fargo Advisors since June 26, 2017. Below, you can find important information about the disclosures related to Leroy Born’s conduct.
Particularly, a client filed a complaint about Leroy Born. Supposedly, Born made unsuitable recommendations. Because of this, the client allegedly incurred damages through investing in government bonds. As a result, on April 25, 2025, Wells Fargo Advisors settled this matter by paying the client $28,415.33 in damages.
Specifically, on February 18, 2025, a Wells Fargo Advisors LLC client filed a complaint about Leroy Born. Allegedly, Born engaged in unauthorized trading involving government bonds. For this reason, the client requested compensation from Wells Fargo Advisors LLC or Born. However, the firm denied the complaint.
Also, a client of Wells Fargo Advisors LLC contested Leroy Born’s sales practices, according to a complaint. Allegedly, Born made unsuitable recommendations and failed to diversify investments. Because of this, Wells Fargo Advisors LLC chose to settle the matter on November 15, 2024, by compensating the client in the amount of $38,480.55.
Additionally, on October 21, 2014, a U.S. Bancorp Investments Inc. client filed a complaint about Leroy Born. Supposedly, Born made misrepresentations relating to annuity terms. Because of this, the client allegedly incurred damages through investing in variable annuities. As a result, the client requested $53,092.00 in compensation from U.S. Bancorp Investments Inc. or Born. However, the brokerage firm closed this complaint without further client action.
Particularly, a client of UnionBanc Investment Services contested Leroy Born’s sales practices, according to a complaint. Allegedly, Born made unsuitable recommendations by submitting inaccurate suitability and financial information on a new account form, resulting in the sale of an unsuitable variable annuity. Therefore, UnionBanc Investment Services opted to settle the matter on April 23, 2009, by compensating the client in the amount of $11,595.85.
Are you concerned regarding investments you made with Leroy Born? If so, contact Soreide Law Group online or at (888) 760-6552 and consult with a securities lawyer about a possible recovery. Soreide Law Group has substantial experience recovering losses for investors throughout the United States. The law firm also takes cases on a contingency fee arrangement and advances all costs. Born and the securities firms Born worked for deny accusations of sales practice violations.
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