Have you suffered losses investing with James Robert Glover in his Colonial Companies, including Colonial Funding and Colonial Tidewater Realty Income Partners? If so, The White Law Group may be able to help you recover your losses in a FINRA arbitration claim against the brokerage firm that employed Mr. Glover.
In December 2012, James Glover signed a FINRA Letter of Acceptance, Waiver and Consent (the "AWC"). The following are excerpts from that AWC:
"In 1998, Glover joined Signator Investors, Inc. ("Signator" or the "Firm") as a registered representative. On May 12, 2012, Glover resigned from the Firm during the Firm's internal investigation into conduct related to previously undisclosed outside business activities."
"On November 15,2012, during the course of an investigation into allegations that, while employed at the Firm, Glover had misappropriated funds from a Firm customer and conducted undisclosed outside business activities through which he sold unregistered securities products, Enforcement staff sent a letter to Glover, pursuant to FINRA Rule 8210 (the "November 15th Letter"), requiring him to appear and provide testimony on December 4,2012. On November 28, 2012, in response to the November 15th Letter, counsel for Glover reported to FINRA staff that Glover would not appear and provide testimony. Glover did not appear for testimony on December 4, 2012."
As part of the AWC, Glover consented to the imposition of the following sanctions:
"I understand that if I am barred or suspended from associating with any FINRA member, I become subject to a statutory disqualification as that term is defined in Article III, Section 4 of FINRA's By-Laws, incorporating Section 3(a)(39) of the Securities Exchange Act of 1934. Accordingly, I may not be associated with any FINRA member in any capacity, including clerical or ministerial functions, during the period of the bar or suspension (see FINRA Rules 8310 and 8311)."
According to James Glover's FINRA Broker Report, as of June 2014, Glover has been the subject of over 35 customer complaints. Many of these complaints relate to the sale of real estate investments, including investments in "Colonial Companies."
Based on reports, the Colonial Companies may refer to investments offered by Glover, including Colonial Funding and Colonial Tidewater Realty Income Partners.
The White Law Group is investigating the liability that Mr. Glover's FINRA broker-dealer may have for losses in these investments. Brokerage firms are required to supervise their agents to insure that they are complying with FINRA rules and regulations. To the extent that it can be demonstrated that Mr. Glover's employer failed to properly supervise him, such firm may be held liable for any losses resulting from this failure.
If you invested with James Robert Glover and would like to discuss your litigation options, please call The White Law Group at 312/238-9650 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida.
For more information on the firm, visit www.whitesecuritieslaw.com.
Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.