Jason LaBelle, Broker for LPL Financial, Suspended and Fined Over Alleged Participation in Undisclosed Outside Business Activities

LaBelle was suspended by FINRA for three months and fined $5,000.

The Sonn Law Group is investigating allegations that Jason LaBelle participated in undisclosed outside business activities. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Jason LaBelle (CRD#: 5654529) consented to a 3-month suspension and a fine of 5,000 from FINRA beginning on January 20, 2020.

FINRA’s findings that, while associated with a member firm, LaBelle participated in an outside business activity involving a real estate development project that was financed with money lent by one of his customers without providing prior written notice to his firm. 

Specifically, LaBelle performed work as an independent contractor on behalf of a corporation that had purchased a 13-acre lot in order to develop 19 custom homes on the lot. That corporation, which was formed by LaBelle’s mother, was financed with money provided by one of LaBelle’s brokerage customers. The findings stated that LaBelle falsely confirmed that he had fully disclosed his outside business activities on two annual compliance questionnaires submitted to his firm.

LaBelle was also charged criminally in 2017 with assault and battery with a dangerous weapon, misleading a judge, misleading a clerk, and filing a false crime report. Those charges are still pending. 

Also in 2017, LaBelle was the subject of a customer dispute in which customers alleged that he made misrepresentations on the terms of a promissory note he recommended. Additionally, they alleged that LaBelle withdrew money from their taxed deferred accounts without authorization to purchase the note.

Contact Us Today

The Sonn Law Group is currently investigating allegations that Jason LaBelle participated in undisclosed outside business activities. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.