Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Timothy Cleveland (Cleveland), currently associated with Lasalle St Securities, L.l.c., has at least one disclosable event. These events include one customer complaint, alleging that Cleveland recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $25,000.00 on August 23, 2024.
The customer alleged the financial advisor, Mr. Cleveland, took two unauthorized withdrawals totaling $25,000 from her account through margin and placed the funds in an office payroll account. At the time the withdrawals were made, the customer was a financial advisor and partner of Mr. Cleveland. She alleged that she had approved prior loans from her account to the office payroll account but did not approve the two journals at issue.
