Clyde Warren Ford of Fresno California a stockbroker formerly registered with Kestra Investment Services LLC has been referenced in a customer initiated investment related civil action in which the customer obtained a judgement of $410,000.00 in damages based upon accusations of fraud relating to their purchase of Panthera. Civil Action No. 19CECG03981 (Oct. 8, 2020).
According to the investor lawsuit, the customer had been advised by Ford to invest $461,000 in Panthera. The stockbroker purportedly did not tell them about his ownership in that company. The claim alleges that the customer asked for Ford to return their Panthera funds. The customer was allegedly assured that their funds would be available but they never obtained the money. Ford allegedly breached a fiduciary duty to the customer in reference to the private securities transaction. The lawsuit also contains allegations of misrepresentation and the conversion of the customer’s assets when Ford was associated with Kestra.
Ford was a stockbroker and investment adviser representative of Kestra until September 5, 2019 at which point he was discharged based upon accusations of him engaging in outside business activities. Kestra alleged that two or more customers had been referred by Ford to a company whose investments were not made available through the securities broker dealer.
Since October 11, 2019, Ford has been associated with Founders Financial Securities LLC as a stockbroker and investment adviser representative.