July 29, 2013

South Carolina Broker Arrested on Securities Fraud

Jonathan "Jay" Warren Brooks, of Aiken, South Carolina, was arrested on one count of securities fraud on Friday, July, 19th., according to a news release from South Carolina Attorney General, Alan Wilson. The arrest warrant claims that Brooks collected investment money for a fictional entity, the "Charles Howell Trust," and took the money for his personal use.

Jonathan Brooks was assigned a surety bond of $500,000 during a hearing in the Richland County General Sessions Court.

Securities fraud is a felony, which carries a possible punishment of up to 10 years and/or a fine of not more than $50,000.

According to FINRA's BrokerCheck, Jonathan W Brooks was previously registered with FINRA at the following brokerage firms:

HIGH STREET SECURITIES, INC.
CRD# 104201
HOT SPRINGS, AR
12/2011 - 11/2012

SICOR SECURITIES INC
CRD# 16195
AIKEN, SC
09/2009 - 11/2011

SECURITIES AMERICA, INC.
CRD# 10205
DALLAS, TX
11/2008 - 02/2009

Soreide Law Group represents clients nationwide before FINRA. If you have sustained investment losses due to your stock broker/financial advisor’s recommendations, call for a free consultation with an attorney on how to potentially recover those losses: 888-760-6552.

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