Joseph Patrick Roop (also known as Joepat Roop) of Belmont North Carolina a stockbroker formerly employed by Kalos Capital Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested $450,000.00 in damages supported by accusations that between November of 2012 and May of 2017, the customer had been placed into alternative investments including real estate investment trusts and oil and gas investments that failed to be appropriate and which caused the customer to experience unwarranted losses. FINRA Arbitration No. 19-01140 (July 8, 2019).
FINRA Public Disclosure reveals that Roop is referenced in six more customer initiated investment related disputes containing allegations of his wrongdoing during the time that he was registered with securities broker dealers including Wachovia Securities, Legg Mason Wood Walker Inc. and Banc of America Investment Services. Specifically, Roop is the subject of a customer initiated investment related complaint which was resolved for $56,000.00 in damages founded on accusations of Roop omitting risks of options transactions executed in the customer’s account.
Another customer initiated investment related complaint regarding Roop’s conduct was settled for $85,000.00 in damages based upon allegations of options trades being inappropriate given the customer’s objectives for investing, tolerance for risk, or overall circumstances. Roop is also referenced in a customer initiated investment related arbitration claim which was resolved for $135,000.00 in damages supported by accusations that fiduciary duties had been violated; contractual obligations were not compiled with; mutual fund and stock trades failed to be suitable for the customer; false or misleading statements had been made concerning the customer’s investments; and the customer was defrauded by Roop through his activities while registered with Legg Mason Wood Walker Inc.
An additional customer initiated investment related complaint concerning Roop’s activities was settled for $25,000.00 in damages founded on allegations of non-disclosures, misrepresentations, and excessive trading of closed end funds and options by Roop during the time that he was associated with Banc of America Investment Services Inc. Roop is the subject of another customer initiated investment related arbitration claim which was resolved for $90,000.00 in damages based upon accusations that unsuitable business development company and real estate security products had been sold by him when he was employed by Kalos Capital Inc.; and Roop engaged in these activities during the period in which he lacked registration as a stockbroker in the State of Alabama. FINRA Arbitration No. 18-03317 (Feb. 4, 2019).
Roop’s registration with Kalos Capital Inc. has been terminated as of July 22, 2019. Since then, he has been registered with Dempsey Lord Smith LLC.
