Former RBC Financial Advisor, Thomas Lee Johnson, Is The Subject Of A FINRA Enforcement Action

The Wolper Law Firm is currently investigating claims against Thomas Lee Johnson, a former Financial Adviser at RBC Capital Markets, LLC in Indianapolis, IN.  Thomas Lee Johnson has been in the securities industry since 1983 and previously worked at Citigroup Global Markets, Inc.   

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on January 22, 2019, FINRA commenced an enforcement actioin against Thomas Lee Johnson, alleging “he converted his member firm’s funds by transferring $1,059,544.98 from his firm account to his personal bank account for his own use and benefit, when he knew he had received the funds in error and that he had no right to possess the funds. The complaint alleges that Johnson’s firm deposited the funds into his brokerage account at the firm following the firm’s liquidation of his shares and warrants of Doosan Heavy Industries & Construction Co. (“Doosan”), a South Korean company.”

For a full copy of the FINRA Complaint, click http://www.finra.org/sites/default/files/fda_documents/2018056848101%20Thomas%20Lee%20Johnson%20CRD%201215434%20Complaint%20jm.pdf.

Broker theft and/or the use of client funds by a Fianncal Advisor is strictly prohibited.  In addition, brokerage firms are required to have a supervisory system in place that is reasonably designed to detect and prevent Financial Advisors from accessing client funds.  In the event a Financial Advisor does convert client assets, a brokerage firm may be held liable for the loss of funds. 

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis.  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.  We can be reached at 800.931.8452 or by email at mwolper@wolperlawfirm.com.