Financial Advisor, Thomas Logue, Barred By FINRA And Also Has Numerous Customer Complaints For Sales Practice Violations

The Wolper Law Firm is currently investigating claims against Thomas Logue, a former Financial Advisor at American Independent Securities Group in Hilldale, Illinois.  Thomas Logue has been in the securities industry since the 1990s and previously worked at Investors Capital Corp.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on September 14, 2018, FINRA sanctioned Thomas Logue after he refused to cooperate with a FINRA investigation into his sales practices.  When Thomas Logue did not appear for on the record testimony, he was barred.

To review a full copy of the FINRA sanction, click http://www.finra.org/sites/default/files/fda_documents/2018057025501%20Thomas%20Joseph%20Logue%2C%20Jr.%20CRD%201700554%20AWC%20va.pdf

In addition, Thomas Logue has a history of customer complaints, alleging sales practice violations, including but not limited to:

• February 2018—Customer alleged FA “misrepresented the investments sold to them” and alleged damages of $188,000.
• December 2017—Customer alleged that “all transactions recommended by Mr. Logue are unsuitable.” Alleged damages are $125,000 and the matter remains pending.
• September 2017—Customer alleged that “Mr. Logue misrepresented the investments they purchased.” The matter was subsequently settled.
• February 2006—Customer alleged “unauthorized trading.” The matter was subsequently settled.

To review a full copy of Thomas Logue’s FINRA disclosure report, click https://brokercheck.finra.org/individual/summary/1700554#disclosuresSection

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients.  To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

If you or someone you know was a customer of Scott Sanders and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at mwolper@wolperlawfirm.com to discuss your specific situation and the legal options available.  The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.

Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities.  Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.