Adam Michael Lopez of Springfield Illinois a stockbroker formerly registered with Country Capital Management Company is the subject of a customer initiated investment related written complaint on December 16, 2019 in which the customer requested $2,000,000.00 in damages based upon allegations that the customer’s assets were converted and that the customer had been defrauded as a result of Lopez’s mutual fund transactions at Country Capital Management Company.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Lopez has been identified in ten additional customer initiated investment related disputes concerning accusations of his misconduct while employed by Country Capital Management Company. On December 20, 2018, a customer initiated investment related complaint concerning Lopez’s activities was resolved for $80,980.00 in damages founded on accusations that the customer’s account was subject to Lopez’s unauthorized activities.
Another customer initiated investment related complaint pertaining to Lopez’s conduct was settled for $359,846.25 in damages on June 11, 2019 supported by allegations that the customer’s money had been embezzled by Lopez. The claim alleges that the customer was falsely told about the investment of her assets. FINRA Public Disclosure also reveals that a customer initiated investment related civil action brought in the Circuit Court of Sangamon County Illinois was settled for $1,400,000.00 in damages supported by allegations of fraud and conversion by Lopez at Country Capital Management Company. Civil Action No. 2018-L-000207 (Nov. 22, 2019).
On January 14, 2019, a customer initiated investment related complaint in reference to Lopez’s conduct was resolved for $32,299.58 in damages based upon accusations that the Country Capital Management Company customer was misled concerning distributions that were made from the customer’s mutual fund account for purchases of insurance through the stockbroker. On August 1, 2019, another two customer complaints were resolved for a total of $191,615.64 in damages based upon accusations of the stockbroker’s unauthorized fixed insurance transactions.
Lopez has been barred from associating with any FINRA member in any capacity based upon consenting to findings that he neglected to provide the regulator with information and documentation during its investigation. Letter of Acceptance Waiver and Consent No. 2018059935201 (Dec. 17, 2018).
According to the AWC, FINRA’s investigation into Lopez came from Country Capital Management Company’s Form’s report of Lopez’s termination on October 4, 2018 where the securities broker dealer revealed that Lopez was under investigation by another government body. The stockbroker was also discharged founded on accusations of him illegally handling customer funds and committing fraud.
FINRA sought more information about Lopez’s alleged violation of securities laws and industry rules but to no avail as Lopez refused to cooperate with FINRA’s November 9, 2019 request for his documentation and information. Lopez’s activities were violative of FINRA Rules 2010 and 8210.
Lopez has been suspended by Illinois Securities Department according to an Order of Suspension and Prohibition supported by allegations of the stockbroker’s fraud and deceptive actions relating to mutual funds and variable annuities. Case No. 1800493 (Oct. 12, 2018). Lopez’s insurance registration has also been revoked by Illinois Department of Insurance supported by allegations of his coercive or dishonest practices.
