Investigation Alert: Roderick Whited

Soreide Law Group is currently investigating potential claims on behalf of investors who have suffered losses due to the actions of securities broker Roderick Len Whited (also known as Rod Whited) [CRD: 2663822, Gainesville, Florida]. Whited, previously registered as both a broker and investment adviser. He was affiliated with Intercarolina Financial Services Inc. from October 2020 to November 2021. Before that, he worked with Northwestern Mutual Investment Services LLC from April 1996 to February 2020. Notably, Whited has been the subject of allegations including forgery and misappropriation of charitable funds, leading to a permanent bar from FINRA.

Whited Disclosed Forgery Allegations By Northwestern Mutual Investment Services LLC Client

Evidently, a client of Northwestern Mutual Investment Services LLC contested Roderick Whited’s sales practices in February 2023. Supposedly, Whited used a forged signature on policy application documents for a non-variable life insurance policy established in 2013 which the client asserts were not signed by them. It appears that Whited allegedly led the client to claim damages on an insurance product. Therefore, the client sought compensatory relief from Northwestern Mutual Investment Services LLC or Whited in the amount of $11,000 in this matter. On April 6, 2023, the firm concluded its review and found no evidence to support the client's claim of an unlawful sale of the policy. The complaint was denied.

Roderick Whited Terminated For Misappropriation Of Charitable Donations

Also, NetWorth Asset Management Inc. disaffiliated with Roderick Whited on December 21, 2021. Supposedly, Whited engaged in the misappropriation of charitable donations. Whited's resignation was accepted after he received a ban from FINRA.

FINRA Barred Whited For Misappropriation Of Charitable Funds

Additionally, on November 15, 2021, FINRA issued Case: 2020065505201 sanctioning Roderick Whited for infractions. Specifically, FINRA alleged that Whited misappropriated charitable donations.

Roderick Whited faced a regulatory action initiated by FINRA, which came to a resolution on November 15, 2021. The allegations against Whited included the conversion of $44,170 intended for a pediatric cancer charity. According to the regulator, during his tenure at Northwestern Mutual Investment Services LLC, he diverted funds raised at fundraising events to his personal account for personal use. Following the discovery of this misappropriation, Whited was instructed by his firm to repay the charity, leading to a repayment of $35,150.19.

Roderick Whited Terminated For Misuse Of Charitable Funds

Specifically, Northwestern Mutual Investment Services LLC disaffiliated with Roderick Whited on January 8, 2020. Namely, the securities broker dealer alleged that Whited misused funds raised for a charity event.

Client Alleges Forgery At Northwestern Mutual Investment Services LLC

Also, a client of Northwestern Mutual Investment Services LLC contested Roderick Whited’s sales practices in 2018. Supposedly, Whited forged client signatures on a life insurance form. It appears that Whited allegedly caused the client to sustain damages on insurance products. Therefore, the client sought compensatory relief from Northwestern Mutual Investment Services LLC or Whited in the amount of $7,760.34 in this matter.

Seek Legal Counsel If You Have Suffered Losses

Did you experience losses because of Roderick Whited? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Whited and brokerage firms he worked for deny accusations of sales practice violations.