Securities Lawyers Blog
The law offices of Gana Weinstein LLP are currently investigating claims that advisor Dain Stokes (Stokes) was discharged by his employer after being accused of running an investment fraud scheme. According to BrokerCheck records, Stokes is formerly registered with The Financial Industry Regulatory Authority (FINRA) member firm LPL Financial LLC (LPL Financial). In addition, Stokes disclosed two regulatory complaints and four customer complaints. If you have been a victim of Stokes’ alleged misconduct our firm may be able to assist you in recovering funds.
On August 1, 2019 an investor reported to the Fremont Police Department that he had possibly been defrauded by Stokes related to an investment of two hundred one thousand dollars. The complaint alleges that the investment was for an alleged project in Africa purportedly involving popstar Taylor Swift. The victim provided copies of cancelled checks, unsecured promissory notes, and text messages to the Fremont Police Department that corroborated his complaint.
According to the complaint Stokes used fraudulent messages to continue to entice the investor including:
- On November 29, 2018, Stokes is claimed to have wrote: “We are getting close, a week, maybe two, I just had a long talk with Taylor about it in the middle of the night lol.”
- On May 8, 2019, Stokes is claimed to have wrote: “Taylor is meeting with Bill Gates and the rest of the sponsors who are paying out the commissions on May 20th To try in wrap things up, so we all get paid.”
- On June 12, 2019, Stokes is claimed to have wrote: “Trump’s illegally locked my bank accounts, and I’m fighting it in the Federal Bank Commission in the New Hampshire AG’s Office. Taylor is releasing a new song on Instagram in 30 minutes and I’m promoting it.”
In August 2019 LPL Financial discharged Stokes in connection with State of New Hampshire suspension of investment adviser agent and broker-dealer representative license.