James David Crosson of Middletown Rhode Island a stockbroker formerly registered with Voya Financial Advisors Inc. is the subject of a customer initiated investment related written complaint which was settled on October 28, 2019 to resolve accusations that misrepresentations were made to the customers concerning the risks of buying Castle Brands and that the customers were misled concerning how much of their securities portfolio were allocated in certain stock positions.
Financial Industry Regulatory Authority (FINRA) Public Disclosure indicates that Crosson has been identified in three additional customer initiated investment related disputes pertaining to allegations of his misconduct while employed by LPL Financial, Investors Capital Corp. and Voya Financial Advisors. On April 27, 2019, a customer filed an investment related complaint pertaining to Crosson’s conduct in which the customer requested more than $5,000.00 in damages supported by allegations of omissions by the stockbroker as it pertained to the surrender charges on liquidating mutual fund shares when Crosson was employed by LPL Financial.
On March 19, 2019, another customer initiated investment related civil action in reference to Crosson’s conduct was resolved for $36,563.83 in damages based upon accusations that a customer of Investors Capital Corp and Voya Financial Services had been provided with unsuitable investment recommendations from the stockbroker concerning Castle Brands stock which caused the customer to incur losses. Crosson is also the subject of a customer initiated investment related written complaint which was settled for $11,196.35 on August 27, 2019 based upon allegations that an excessive amount of Castle Brands stock had been purchased for the customer’s account which was inappropriate for the Voya Financial Advisors customer. According to the claim, risks of the stock purchase were misrepresented by the stockbroker.
FINRA Public Disclosure confirms that Crosson was terminated by Voya Financial Advisors on April 4, 2019 based upon accusations identified in customer complaints. On May 2, 2019, he became employed by Lincoln Financial Securities Corporation.