Articles Tagged with Chapel Hill Tennessee Stockbroker Misconduct Attorney

Thomas Lawrence, a former registered representative associated with Ameritas Investment Corp. (Ameritas), submitted an Offer of Settlement to the Financial Industry Regulatory Authority (FINRA) in which he consented to, without admitting or denying, the findings that he borrowed money from a 96 year old customer and has not repaid the loan.

Thomas H. Lawrence III, of Chapel Hill, Tennessee, allegedly borrowed more than $39,000 from one of his customers, a 96 year old retiree.  The elderly customer allegedly agreed to provide the loan and Mr. Lawrence drafted and signed a promissory note stating the terms of repayment.  According to FINRA, Mr. Lawrence did not repay any portion of the loan, nor did he have any discussion with the customer about repaying the loan.  Further, FINRA found that Mr. Lawrence hasn’t even spoken to the elderly customer since early 2014.  Mr. Lawrence never notified his member firm before obtaining the loan, as it was prohibited except for immediate family members. Due to the afore-mentioned misconduct, Thomas Lawrence was suspended from association with any FINRA member for two years, fined $5,000, and ordered to pay restitution of $41,332.65, plus interest to the affected customer.  Continue Reading