Update on Former LPL Broker, James Couture

Soreide Law Group has filed a FINRA arbitration on behalf of their client against LPL FINANCIAL LLC due in part to the alleged actions of their former registered representative, JAMES KENNETH COUTURE (James Couture), who was barred by FINRA in October of 2020.
James Couture was arrested July 23, 2021, after backing out of a plea deal that could have put him in prison for 7 ½ years after being accused of taking $3 million from investors. Couture was being charged with three counts of wire fraud and one count of aggravated identity theft. After Couture decided not to take the plea deal, a grand jury added charges of a wire fraud count, three more counts of aggravated identity theft and a single count of investment advisor fraud according to an article in Law 360.
Couture plead not guilty to all charges during his initial appearance in federal court and was released without bond. Couture was also ordered to surrender his passports and his assets were frozen, except for money to pay his lawyer.
According to the prosecutors, between 2009 and 2019, Couture allegedly transferred millions of dollars from client accounts and used the money to pay phony investment returns to other clients and to buy a client list from another investment advisor.
James Couture would have faced between 66 and 91 months in prison, forfeited approximately $2.9 million in funds from investors, and paid $1.9 million in restitution under the original plea deal. Couture agreed to plead guilty in June and would have appeared in court July 7^th. But on July 6^th Couture claimed he no longer wished to waive the indictment or to plead guilty.  Couture also faces a civil action by the SEC and the SEC is seeking a permanent ban for James Couture as an investment advisor.
The SEC claims in one case that Couture allegedly misappropriated $1.2 million from a widow he was advising for many years.  None of the funds have been returned to her, according to the SEC.
The following two blog posts are on Soreide Law Group’s website:
June 3, 2021   https://www.securitieslawyer.com/james-k-couture/
December 23, 2020   https://www.securitieslawyer.com/james-kenneth-couture-barred/
If you’ve experienced financial losses due to the actions or recommendations of James Couture, formerly with LPL FINANCIAL LLC of WORCESTER, MA, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment loss through a FINRA arbitration at:  888-760-6552. 
Soreide Law Group represents our clients nationwide before FINRA and operates on a contingency fee basis--no fee to you if no recovery.
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