Former NYLIFE Securities Broker is Accused of Selling Worthless Woodbridge Mortgage Notes to Investors
At the Sonn Law Group, we are investigating claims involving former NYLIFE Securities broker Joel Flaningan. If you were sold Woodbridge securities by Mr. Flaningan, we want to hear from you right away. Contact our law firm today at (866) 827–3202 for a free, fully confidential consultation.
Joel Vincent Flaningan (CRD#: 5664958) is a former registered securities broker. From December of 2010 to May of 2018, Mr. Flaningan was employed at NYLIFE Securities in Fort Wayne, Indiana.
In 2018, he was terminated by the brokerage firm after allegations that he improperly sold unregistered Woodbridge mortgage notes to investors. In late 2017, Woodbridge was exposed as a billion dollar Ponzi scheme.
Barred Broker: Joel Flaningan Formerly of NYLIFE Securities
Since the beginning of 2019, three investor complaints have been filed against former NYLIFE securities representative Joel Flaningan. All three of the claims were related to worthless Woodbridge mortgage notes sold to investors by this broker.
● January 2019: An investor alleged that he sustained losses after Mr. Flaningan sold him an unregistered, unsuitable alternative investment product. He is seeking $45,000 in compensation. The claim is still listed as ‘pending’.
● January 2019: A customer filed a complaint alleging losses related to unregistered Woodbridge promissory notes. This investor is seeking $100,000 in damages. The claim is listed as ‘pending’.
● February 2019: An investor filed a claim alleging illegitimate losses in the Woodbridge wealth Ponzi scheme. This claim was settled for $37,500 in financial compensation.
Notably, former NYLIFE Securities broker Joel Flaningan was barred by FINRA in March of 2019 after he failed to respond to multiple requests for information.
Jeffrey R. Sonn is an experienced Ponzi scheme lawyer. If you were sold Woodbridge securities by Joel Flaningan, you may be eligible to recover financial compensation. Contact the Sonn Law Group now to learn more about your rights.