Paul Wescoe Smith, of Wayne, Pennsylvania, a stockbroker formerly registered with Bolton Global Capital, is the subject of a customer initiated investment related arbitration claim on July 5, 2017, in which the customer requested $25,000.00 in damages based upon allegations that from January of 2016 to February of 2017, the customer maintained an investment in Haverford Group, which turned out to be a fraudulent investment. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-01753 (July 5, 2017).
FINRA Public Disclosure reveals that Smith is the subject of three more customer initiated investment related disputes pertaining to allegations of Smith’s misconduct since a FINRA regulatory action where Smith was permanently barred in all capacities by FINRA for failing to cooperate in an investigation into his unapproved private securities transactions. Letter of Acceptance, Waiver and Consent, No. 2017053266401 (June 7, 2017).
Specifically, a customer filed an investment related arbitration claim involving Smith’s conduct, where the customer sought $21,000.00 in damages based upon accusations that between February of 2015 and March of 2017, the customer’s assets were invested in a fraudulent investment club. FINRA Arbitration No. 17-01612 (June 21, 2017). In another customer initiated investment related arbitration claim concerning Smith’s conduct, the customer sought $43,352.56 in damages supported by accusations of fraud. FINRA Arbitration No. 17-01611 (June 23, 2017).
Smith has also been subject of a customer initiated investment related written complaint on June 26, 2017, in which the customer requested $108,769.54 in damages founded on allegations of fraudulent private securities transactions from September of 2013 to September of 2016.
Smith’s employment with Bolton Global Capital was terminated as of February 14, 2017. On December 7, 2017, the United States Securities and Exchange Commission and the Department of Justice, through the United States Attorney for the Eastern District of Pennsylvania filed a civil action and a criminal indictment against Paul Wescoe Smith fomerly associated with Bolton Global Capital.
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