Lawrence James Rizer of Boardman Ohio a stockbroker formerly registered with NYLife Securities LLC is the subject of a customer initiated investment related civil action brought in the Jefferson County Ohio State Court which was resolved for $65,000.00 based upon accusations that (1) the customers had been sold life insurance policies which lapsed despite the customers being assured of there being no further obligation on their part to keep the policies intact and (2) life insurance policies had been converted to other policies without the customers’ consent. Civil Action No. 17CV00317 (June 13, 2018).
Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms that a customer initiated investment related complaint involving Rizer’s conduct was settled to resolve allegations of the customer being provided false information concerning the tax liabilities which pertained to a variable annuity sold to the customer when Rizer was associated with NYLife Securities Inc.
Rizer was discharged by NYLife Securities supported by accusations of Rizer misappropriating funds. Between April of 2017 and March 2, 2018, Rizer was employed by MML Investors Services LLC.
