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Robert Rex
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This blog is written by Robert H. Rex, Esq. who is a securities attorney and a passionate advocate for investors rights. With over 30 years of legal experience, 25 of which have dealt almost exclusively with the recovery of stockmarket and investment losses for mostly elderly clients, he and his... More
My company:
Rex Securities Law
My blog:
Rex Investment Loss Recovery Blog
  • Quest Capital Fires Broker For Borrowing $$ From Client 0 comments
    Apr 16, 2013 4:14 PM

    Quest Capital Strategies discharged registered representative George R. Hunt after a firm client claimed that Hunt had borrowed money at 12% interest and failed to repay it. In January 2013 FINRA suspended Hunt for one year and required that Hunt make restitution to the customer. FINRA alleged that he had borrowed $63,500 and had not repaid any of the debt.

    In addition, FINRA alleged that Hunt was aware of the policies of the firm prohibiting borrowing money from customers and that Hunt had represented in annual compliance questionnaires that he had not borrowed any funds from customers. In addition, on separate occasions Hunt recommended that the customer liquidate securities in her account with the firm and use the proceeds to fund some of the loans made to Hunt. According to FINRA, Hunt had no reasonable basis for recommending these transactions.

    Hunt previously worked for LPL Financial (Linsco Private Ledger) and A.G. Edwards & Sons, Inc.

    If you have questions about your stock brokerage account, contact us for a no charge consultation.

    Nationwide representation

    Rex Securities Law

    561 391 1900

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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