Paul Wescoe Smith, Formerly of Bolton Global Capital, Barred by the SEC and FINRA Following…

Paul Smith is facing allegations from numerous investors that he conducted a fraudulent scheme.

The Sonn Law Group is investigating allegations that Paul Wescoe Smith committed fraud. Under FINRA Rules, brokerage firms are liable for their brokers’ misconduct or negligence and investors may be able to their investment through FINRA arbitration. Contact Sonn Law Group today or call us at 866–827–3202 for a free consultation.

Paul Wescoe Smith (CRD#: 1070735) was previously named in an SEC complaint alleging Smith had raised $2,350,000 from thirty investors as part of a fraudulent scheme. Smith allegedly told customers their funds would be placed with The Haverford Group to invest in publicly traded securities. However, Smith placed very few securities transactions with the fuds. Instead, Smith used the funds to cover his own personal expenses or to pay back other investors.

Smith consented to a judgment against him which permanently enjoined him from violating further SEC rules. He also plead guilty in a subsequent criminal action to committing securities fraud. He was sentenced to five years in prison.

Smith was also barred by FINRA after obstructing a FINRA investigation into allegations of his private securities transactions. Smith has been named in sixteen customer disputes alleging misconduct while he was employed by Bolton Global Capital. Smith was terminated from Bolton Global Capital in February 2017 following allegations of unapproved and undisclosed private securities transactions.

Some of Smith’s most recent customer disputes are listed as follows:

• June 2018 — Claimant invested in The Haverford Group that turned out to be a fraudulent investment club. The dispute was settled for $117,500.
• June 2018 — Claimant invested in The Haverford Group that turned out to be a fraudulent investment club. The dispute was settled for $79,000.
• June 2018 — Claimant invested in The Haverford Group that turned out to be a fraudulent investment club. The dispute was settled for $18,750.
• June 2018 — Claimant invested in The Haverford Group that turned out to be a fraudulent investment club. The dispute was settled for $30,000
• September 2017 — Claimant alleged that Smith sold fictitious investments and converted customer funds for his own personal use and benefit. The dispute was settled for $11,375.
• July 2017 — Claimant invested in The Haverford Group that turned out to be a fraudulent investment club. The dispute was settled for $15,000.
• June 2017 — Claimant invested in The Haverford Group that turned out to be a fraudulent investment club. The dispute was settled for $75,000.

Jeffrey R. Sonn is an experienced investor losses attorney. If you suffered losses because a financial professional committed acts in violation of FINRA Rules, Mr. Sonn will protect your rights and interests. Please do not hesitate to contact the Sonn Law Group today for a free review of your claim.