Alonza Barnett Junior, of Greensboro, North Carolina, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon his failure to provide FINRA staff with information about his activities. Letter No. 2017053125201 (Mar. 9, 2017).
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Barnett has been identified in two customer initiated investment related disputes containing allegations of Barnett’s wrongdoing while associated with Institutional Capital Management and Ameritas Investment Corp. Specifically, on March 15, 2016, a customer filed an investment related arbitration claim involving Barnett’s activities, in which the customer requested $50,000.00 in damages based upon allegations that Barnett made unsuitable investment recommendations and disingenuous representations to the customer concerning asset backed debt products.
Subsequently, on February 7, 2017, a customer filed an investment related civil action regarding Barnett’s conduct, in which the customer requested $1,750,000.00 in damages based upon allegations that Barnett breached his fiduciary duties, converted the customer’s funds, violated North Carolina Investment Advisors Act, and committed fraud in reference to the customer’s private securities transactions.
Barnett’s registration with Ameritas Investment Corp. ended on December 31, 2016.
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