James Gregory McKinney (also known as Greg McKinney) of Tulsa Oklahoma a stockbroker formerly registered with Cetera Advisors LLC is the subject of a customer initiated investment related complaint on November 3, 2020 where the customer sought unspecified damages supported by allegations that they were provided with unsuitable investment recommendations from McKinney during the time that he was associated with Cetera Advisors. According to the claim, the customer sustained damages on direct investments including direct participation programs or limited partnerships.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that McKinney has been identified in seven more customer initiated investment related disputes containing accusations of his violative conduct while employed by Cetera Advisors. On March 17, 2020, a customer filed an investment related complaint concerning McKinney’s activities in which the customer requested between $500,000.00 and $1,000,000.00 in damages founded on allegations that they sustained damages based on negligence and the breach of a fiduciary duty by the stockbroker during the time that he was registered with Cetera Advisors. The complaint alleges that the customer was defrauded on alternative investment transactions.
On June 19, 2020, another customer initiated investment related complaint regarding McKinney’s conduct was settled for $29,593.00 in damages based upon accusations of misrepresentation as it pertained to the real estate security transaction and over-the-counter equities transactions executed by McKinney at Cetera Advisors. According to the claim, the investments had been recommended by McKinney so that he could make commissions from the customer.
The stockbroker is also referenced in a customer initiated investment related complaint on September 9, 2020 where the customer sought $500,000.00 in damages founded on accusations of poor investment advice concerning DPPs or LPs. On September 25, 2020, another customer filed an investment related complaint involving McKinney’s conduct in which they sought $1,000,000.00 in damages based upon allegations of unsuitable alternative investments being recommended by McKinney at Cetera Advisors.
McKinney has been barred from associating with any FINRA member in any capacity according to a FINRA Office of Hearing Officers’ Default Decision which contained findings of McKinney failing to cooperate with FINRA’s requests while he was under investigation for private securities transactions. Department of Enforcement v. James G. McKinney Disciplinary Proceeding No. 2018057829001 (Feb. 27, 2020).
According to the Decision, McKinney became the subject of a FINRA investigation in March of 2018. He failed to provide documents, information or recorded testimony to the regulator which prompted it to file a Complaint against him alleging his failure to comply with the investigation. McKinney neglected to respond to FINRA’s Complaint resulting in FINRA’s decision to bar him on March 26, 2020.
McKinney was associated with Cetera Advisors between October 5, 2012 and August 1, 2019.
