Broker Investigation: Laurence Greene

Laurence Charles Greene (CRD#: 604082) is a previously registered broker. From June of 2002 to January of 2018, Mr. Green was employed at Herbert J. Sims & Co. in Ellijay, Georgia.

Recently, two complaints have been filed against this broker. Below, our investment fraud attorneys review the allegations being raised against former Herbert J. Sims & Co. broker Laurence Greene.

Customer Complaints: Laurence Greene

Investor Dispute #1

In November of 2017, an investor filed a claim against Laurence Greene alleging that losses were sustained due to unsuitable investment recommendations, excessive trading (churning), and breach of fiduciary duty. According to information provided by FINRA, the losses sustained in this case are linked to Puerto Rico bond investments. In recent years, Puerto Rican municipal bonds — which were marketed and sold to investors on the ground as ‘safe’ and ‘conservative’ financial products — have sustained substantial losses. This customer is seeking $375,000.00, and the claim is currently listed as ‘pending’ by FINRA.

Investor Dispute #2

In May of 2018, a customer filed a complaint against Mr. Greene alleging losses related to risky oil and gas securities. Due to a drop in global crude oil prices, many oil and gas sector companies and related investment products sustained considerable losses between 2009 and 2015. In this specific case, the investor contends that Mr. Greene offered unsuitable investment advice. Under FINRA Rule 2111, brokers must ensure that investment recommendations and strategies are appropriate for the risk profile of their customer. This claim is listed as ‘pending’ and the amount of compensation being sought has not been specified by FINRA.

Contact Our FINRA Arbitration Attorneys Today

At Sonn Law Group, our investment fraud lawyers have extensive experience handling FINRA arbitration claims. To arrange your free, no obligation securities fraud consultation, please contact our law office today.

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