Securities broker Todd Michael Lesk [CRD: 2788300, Coral Springs, Florida] has become a subject of concern for Soreide Law Group, as we investigate the potential claims for investors who may have incurred losses through their association with Lesk. Evidently, BrokerCheck shows that Lesk worked for Cambridge Investment Research Inc. from 2022 to 2023 and LPL Financial from 2018 to 2022. Notably, FINRA sanctioned the securities broker and investors filed disputes about him. Here’s more.
Particularly, on October 6, 2023, FINRA took disciplinary action against Todd Lesk, resulting in a permanent bar in all capacities. The sanction was due to Lesk's refusal to provide documentation and testify during an investigation. The inquiry was into allegations of Lesk advising a client to invest in a crypto asset offering outside of his employer’s control. The securities broker did not admit or deny the allegations but accepted the sanctions.
Particularly, Cambridge Investment Research Inc. severed its ties with Todd Lesk on October 4, 2023. The firm cited Lesk's non-cooperation with regulatory and firm inquiries as the cause.
Specifically, a claim against Todd Lesk was filed by an LPL Financial LLC investor on September 19, 2023. In FINRA Arbitration No. 23-02528, the investor accused Lesk of making unsuitable recommendations between 2021 and 2022, leading to losses on products not offered through LPL Financial LLC. The client is seeking $1,000,000 in damages from either LPL Financial LLC or Lesk directly. This arbitration is currently pending a decision.
Additionally, a Middlebury Securities LLC investor raised concerns about Todd Lesk's trading practices. Notably, the investor alleged unauthorized trading and churning in their trust account, leading to losses on stocks. In response to these allegations, Middlebury Securities settled with the investor for $30,000 on November 8, 2017. Despite the settlement, Lesk maintained that all transactions were authorized by the Trustee.
If you have incurred losses through your dealings with Todd Lesk, Soreide Law Group is prepared to assist. Contact us online or at (888) 760-6552 to discuss potential recovery routes. Operating on a contingency fee basis and advancing all costs, our team is dedicated to aiding investors in their quest for justice. Please note that Lesk and his former employers reject the allegations of improper sales practices.
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