Larry Werbel Has A History Of Sales Practice Misconduct Which Culminated In A Suspension By The SEC
The Wolper Law Firm is currently investigating claims against Larry Werbel, a former Financial Advisor at Concorde Investment Services, Summit Brokerage Services and LPL Financial in Chargin Falls, Ohio. Larry Werbel first entered the securities industry in 1996.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Larry Werbel has a long history of sales practice misconduct, which consists of alleged civil, criminal and regulatory violations.
Most recently, in June 2018, the SEC barred Larry Werbel from associating with any “broker dealer, investment advisor, municipal securities dealer, municipal advisor, transfer agent or NRSRO.” This censure follows Larry Werber’s guilty plea to “investment advisor fraud.”
In addition, during his career, Larry Werbel has been discharged by three separate employers for sales practice misconduct. Larry Werbel has also been the subject of numerous customer complaints, including the following:
- October 2016—“Client is alleging suitability, negligence and failure to supervise…” The matter was settled for $125,000.
- July 2016—“Werbel was named in a customer complaint that asserted…breach of duty of loyalty, negligence, fraud…and negligent supervision.” A judgment was entered in favor of the plaintiffs in the amount of $778,119.
- May 2016—“Plaintiffs allege that FA recommended two unsuitable securities…” The matter was settled for $48,580.
- July 2014—Customer alleged “trades in VGTEL in 2013, selling away, conversion of property, fraud.” The matter was settled for $185,138.
If you or someone you know was a customer of Larry Werbel and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at firstname.lastname@example.org to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.