James Edward Bashaw, of Houston, Texas, a stockbroker formerly registered with LPL Financial LLC, has been named in a customer initiated investment related arbitration claim on September 2, 2016, in which the customer requested $3,800,000.00 in damages based upon allegations that Bashaw made unsuitable investment recommendations to customers concerning Texas Air Shuttle, LLC. Customers additionally alleged that Bashaw effected securities transactions and promissory notes transactions that were not suitable and effected outside the auspices of LPL Financial, LLC.
Moreover, Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on July 31, 2012, a customer initiated investment related written complaint involving Bashaw’s conduct was settled for $10,000.00 in damages, wherein the customer’s claim was supported by allegations that he effected unit investment trust transactions in the customer’s account despite the products having failed to be suitable for the customer. Moreover, while Bashaw was associated with former employer, Kidder Peabody & Co., a customer arbitration claim was resolved for $200,000.00 based upon allegations against him of churning the customer’s investment portfolio and breaching his fiduciary obligations.
Bashaw was fired from LPL Financial LLC on September 24, 2014, based upon allegations that he sold away from his firm and entered into unauthorized borrowing arrangements. Since October 29, 2014, he has been associated with International Assets Advisory, LLC.
Guiliano Law Group
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