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Were You A Victim Of Former LPL Financial Broker Charles C. Fackrell's "Robin Hood" Ponzi Scheme?

CHARLES CALEB FACKRELL (CRD#: 5369665) 36 years-old from Booneville, N.C., pleaded guilty to one count of securities fraud for operating a $1.4 million Ponzi scheme.

According to court documents, from May 2012 through December 2014, Fackrell allegedly ran a Ponzi scheme using approximately $1.4 million in funds he solicited from at least 20 victims. According to court records, Fackrell was a broker who solicited his victims away from legitimate investments to investments with "Robin Hood, LLC," and related entities, controlled by Fackrell through which he was able to access the victims' funds.

Fackrell claimed the investors' money would be invested in gold and other precious metals, when in fact Fackrell spent only a fraction of investor money on such investments. According to court records, Fackrell guaranteed annual returns of 5% to 7%. Allegedly, Fackrell used the majority of the investors' money for personal expenses. Fackrell also used a some of the victims' money to make interest payments to investors who demanded their money back. The court records stated that in an attempt to conceal his fraud, Fackrell asked a third party to destroy a computer and documents related to the Ponzi scheme.

According to FINRA's BrokerCheck, CHARLES CALEB FACKRELL, has had 10 Customer Disputes on his FINRA report since 2014. He had been registered in the securities industry for 6 years. FINRA has permanently barred CHARLES CALEB FACKRELL from acting as a broker or otherwise associating with firms that sell securities to the public. The last two firms he was registered with were:

06/2010 - 12/2014 LPL FINANCIAL LLC - YADKINVILLE, NC

12/2009 - 06/2010 WELLS FARGO ADVISORS, LLC - HIGH POINT, NC

If you were a victim of former LPL Financial broker, CHARLES CALEB FACKRELL's Robin Hood Ponzi Scheme and you lost your investment, call Soreide Law Group for a no-cost consultation with an attorney regarding the possibility of recovering those losses at: 888-760-6552. Or visit our website at www.securitieslawyer.com.

Soreide Law Group represents our clients nationwide before FINRA and we operate on a contingency fee.

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