Broker Dealer Financial Services Corp Named In Securities Fraud Complaint

Mitchel Allan Foote, of Manhattan, Kansas, a stockbroker formerly registered with Broker Dealer Financial Services Corp., was named in a customer initiated investment related written complaint on May 12, 2014, in which the customer requested $30,000.00 in damages based upon allegations that Foote misrepresented an illiquid real estate security investment to a customer.
FINRA Public Disclosure reveals that Foote has been identified in three customer disputes concerning allegations of Foote’s misconduct while employed with Intersecurities, Inc., SII Investments, Inc., and Broker Dealer Financial Services Corp. Particularly, on March 13, 2004, a customer filed an investment related complaint involving Foote’s conduct, in which the customer requested $45,000.00 in damages based upon allegations that Foote misrepresented the terms of an annuity contract.
Subsequently, on March 4, 2010, a customer initiated investment related written complaint was filed concerning Foote’s conduct, in which the customer requested $30,602.54 in damages based upon allegations that Foote made misrepresentations concerning a real estate security, and effected an unsuitable transaction in the customer’s account.
Further, on June 10, 2011, a customer initiated investment related arbitration claim involving Foote’s activities was settled for $44,000.00 in damages, based upon allegations that Foote made misrepresentations to the customer concerning real estate investment trusts and effected unsuitable investment transactions in the customer’s account.
Foote’s registration with Broker Dealer Financial Services Corp. ended on December 31, 2009. From January 5, 2010, to August 10, 2011, Foote was registered with Sterne Agee Financial Services, Inc. Since August 8, 2011, he has been registered with Client One Securities LLC.