James “Jim” Booth of LPL Financial and Booth Financial in Norwalk Connecticut has been named in a customer initiated, investment related claims filed before the Financial Industry Regulatory Authority that Booth stole or misappropriated funds from his customers.
According to FINRA Public Disclosure, Booth appears to have been terminated by LPL on June 26, 2019. No information regarding the circumstances surrounding Booth’s termination have been disclosed. However, it is allged following Booth’s termination from LPL, his customers were sent a letter inquiring whether his customers authorized the withdrawal of funds from their securities accounts to an entity named “Insurance Trends, Inc.” It is also alleged that at the time of his termination, LPL had actual knowledge that Booth was the subject of certain criminal investigations regarding is wrongful conduct.
Investors claim that Booth told them their funds would be used purchase investments, but may have converted these funds to his personal use. To conceal this activity, ity is alleged that Booth provided customers with false or fabricated periodic statements
