Gary Wayne Hammond of Charlotte North Carolina a stockbroker formerly registered with MSI Financial Services (MetLife Securities) is the subject of a customer initiated investment related civil action brought in the North Carolina Superior Court in which the customer sought more than $25,000.00 in damages based upon allegations that (1) the customer had been provided bad advice by Hammond as it pertained to the sale of private securities and (2) Hammond’s investment recommendations were fraudulent and had caused the customer to experience unwarranted losses. Civil Action No. 19CVS12902 (July 1, 2019).
FINRA Public Disclosure confirms that Hammond is referenced in nine more customer initiated investment related disputes containing accusations of his wrongdoing during the period that he was registered with securities broker dealers including MSI Financial Services. Specifically, a customer filed an investment related arbitration claim in regard to Hammond’s activities where the customer requested $690,000.00 in damages supported by allegations that while employed by MSI Financial Services, Hammond caused the customer to withdrawal funds from the customer’s brokerage account and invest in fraudulent investments. FINRA Arbitration No. 17-02180 (Aug. 17, 2017).
Hammond is referenced in another customer initiated investment related civil action brought in the North Carolina Superior Court in which the customer sought more than $25,000.00 in damages founded on accusations of fraud pertaining to Hammond’s recommendations of private securities when he was associated with MetLife Securities. Civil Action No. 18CV00528 (May 7, 2018). Hammond is also the subject of a customer initiated investment related civil action where the customer requested more than $25,000.00 in damages based upon allegations that he fraudulently advised the customer to invest in private securities transactions since 1999. Civil Action No. 22954 (Dec. 31, 2018).
Another customer filed an investment related civil action involving Hammond’s conduct requesting $25,000.00 in damages supported by accusations of the violation of state securities fraud laws pertaining to the customer’s investment in a fake entity; and Hammond engaging in unfair and deceptive trading practices which led the customer to sustain losses. Civil Action No. 18CVS24234 (Jan. 7, 2019).
Hammond’s registration with MSI Financial Services Inc. has been terminated as of March 25, 2017. He was discharged from subsequent securities broker dealer employer, MML Investors Services, LLC, on April 21, 2017 founded on allegations that he neglected to comply with MML’s policies by selling away from the securities broker dealer and failing to properly handle a customer’s investment related complaint.
