Jodie Linn Miller, a former broker with Tampa, Florida based LPL Financial, Inc. (LPL) and VALIC Financial Advisors, Inc. (VALIC), submitted a letter of acceptance, waiver, and consent in which she consented to, but did not admit to or deny, the Financial Industry Regulatory Authority’s (FINRA) findings that she participated in unauthorized sales of unregistered Tri-Med securities to 14 investors.
FINRA found that Jodie Miller, of St. Petersburg, Florida, participated in the sale of unregistered Tri-Med notes to 14 investors. The Tri-Med notes ranged from $10,000 to $150,000 and Ms. Miller allegedly received approximately $38,225 in commissions from Tri-Med for the sales. According to FINRA, Ms. Miller neglected to tell both LPL and VALIC about her involvement with Tri-Med, nor did she obtain the necessary approval from the member firms to sell the unregistered Tri-Med notes.
As a result of her participation in the sales of the unregistered Tri-Med securities, Jodi Linn Miller was assessed a deferred fine of $53,225 and suspended for 18 months from association with any FINRA member in any capacity.
The Tri-Med organization has been sued by the State of Florida for engaging in an alleged Ponzi scheme involving Letters of Protection relating to medical account receivables. The Tri-Med organization allegedly sold $13 million dollars of unregistered securities through financial advisors like Ms. Miller throughout the state.
The Law Offices of Robert Wayne Pearce, P.A., is currently representing investors who allegedly invested in Tri-Med based on false or inaccurate information and their financial advisors’ failure to do due-diligence and fully investigate this company and its investment program. The registered investment advisory firm is Gross Financial Services, Inc., now located in Highland Beach, Florida.
When your stockbroker or financial advisor recommends that you invest in a particular security, he or she has the responsibility to tell you the truth about your investment and fully disclose all of the risks associated with the investment along with the benefits. Furthermore, brokerage firms and their representatives have a fiduciary duty to do their own due-diligence with respect to the investments they recommend in order to protect investors. Should they fail to do so, they may be held liable for investors’ losses.
Have you suffered losses resulting from a Tri-Med investment? Did you invest in Tri-Med through LPL Financial advisor Jodie Miller or through Gross Financial Services advisor William Gross? Did another stockbroker, investment advisor, accountant or other finance professional recommend that you invest in Tri-Med? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce is actively investigating and accepting clients with valid claims against financial advisors, stockbrokers, and their affiliated stockbrokerage, investment advisory or accounting firms who offered and sold these unregistered Tri-Med securities to investors.
The most important of investors’ rights is the right to be informed! This Investors’ Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over , Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities, and investment law issues. The lawyers at our law firm are devoted to protecting investors’ rights throughout the United States and internationally! Please post a comment, call (800) 732-2889, send Mr. Pearce an email at email@example.com, and/or visit our website at www.secatty.com for answers to any of your questions about this blog post and/or any related matter.