Louis Peter Goff, of Salt Lake City, Utah, a stockbroker formerly registered with Wells Fargo Clearing Services LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because he refused to cooperate in the regulator’s investigation into allegations of potential fraud. Letter of Acceptance, Waiver, and Consent No. 2023080053501 (December 20, 2023).
FINRA’s investigation stemmed from a civil action brought against Goff by SEC. Case No. 2:23-cv-00663 (September 25, 2023). The SEC’s complaint alleges that Goff, along with other defendants, orchestrated a fraudulent securities offering through two entities: Edger Solutions Management LLC and Phoenix Outsourced Development LLC. Allegedly, this scheme, unfolding between June of 2019 and April of 2020, involved misleading 49 individuals into investing over $2,100,000.00 based upon false promises. SEC claims that misrepresentations and omissions were made by Goff and others when promoting the funds. Supposedly, they masked important information about the funds’ fee structures, operations, and actual performance.
FINRA, upon learning of SEC’s action against Goff, requested Goff to provide certain information and documents. Despite acknowledging receipt of this request, Goff refused to comply, violating FINRA Rules 2010 and 8210.
Goff was associated with Wells Fargo Clearing Services LLC in Salt Lake City, Utah, from September 12, 2011, to October 25, 2023.
