George Jones Lincoln IV (also known as Rip Lincoln) a stockbroker formerly registered with Citizens Securities Inc. is referenced in a customer initiated investment related written complaint on February 21, 2020 in which the customer sought $39,991.99 in damages supported by allegations that the customer had been placed into mutual funds without being apprised of how those investments worked.

Lincoln has been identified in seven more customer initiated investment related disputes regarding accusations of his improper conduct when he was employed by Citizens Securities and CCO Investment Services Corp. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that a customer filed an investment related complaint concerning Lincoln’s conduct where the customer requested more than $5,000.00 in damages founded on allegations of the CCO customer having been inappropriately sold mutual funds which poorly performed.

Lincoln is also the subject of a customer initiated investment related written complaint in which the customer sought $29,907.63 in damages based upon accusations that mutual fund purchases at CCO were not suitable for the customer. Another customer filed an investment related complaint involving Lincoln’s activities where the customer requested $100,000.00 in damages supported by allegations of unsuitable mutual funds and Lincoln’s irresponsibility with overseeing the customer’s account.

On March 9, 2016, an additional customer initiated investment related complaint regarding Lincoln’s conduct was settled to resolve accusations that unsuitable mutual funds were sold to the Citizens customer and that those securities poorly performed. Lincoln is also referenced in a customer initiated investment related written complaint which was resolved for $24,323.33 on June 21, 2016 founded on allegations of inappropriate mutual funds being sold by the stockbroker while registered with Citizens.

On January 11, 2018, another customer filed an investment related complaint concerning Lincoln’s activities in which the customer sought more than $5,000.00 in damages based upon accusations of sales practice violations by Lincoln as it pertained to a variable annuity sold to the Citizens customer.

Lincoln has also been censured and fined $70,000.00 by State of Vermont Department of Financial Regulation Securities Division supported by findings of Lincoln altering documents held with CCO to make it seem as though his customers had more aggressive risk tolerances than had been communicated by the customers. Case No. 13-046-S. The Division noted that Lincoln advised customers to invest large portions of their assets in sector funds which was not suitable for them given their investment profiles and circumstances.

Tags: ,

Comments are closed.