James Bernis Lunsford of Sonoma California is a stockbroker formerly registered with Mid Atlantic Capital Corporation who has been referenced in a customer initiated investment related arbitration claim where the customer sought five hundred thousand dollars in damages supported by allegations that Lunsford sold the customer an unsuitable private placement investment. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-00606 (Mar. 15 2017). The customer additionally alleged that the firm (1) breached its fiduciary duties (2) made omissions and misrepresentations to the customer and (3) committed fraud in regard to the customer’s private placement investment.
FINRA Public Disclosure reveals that Lunsford has been referenced in three additional customer initiated investment related disputes pertaining to accusations of Lunsford’s misconduct while employed with Mid Atlantic Capital Corporation. In particular, a customer filed an investment related arbitration claim regarding Lunsford’s activities, where the customer requested $450,000.00 in damages supported by allegations of suitability as well as Mid Atlantic Capital Corporation’s failure to supervise limited partnership interest transactions. FINRA Arbitration No. 15-01319 (July 22, 2015).
On October 10, 2015, another customer initiated investment related written complaint involving Lunsford’s conduct was settled for $4,300.00 in damages based upon allegations that Lunsford made unsuitable investment recommendations to the customer about variable annuities, charged the customer fees that were excessive, and omitted facts relating to the customer’s investments.
Thereafter, a customer initiated investment related written complaint regarding Lunsford’s activities was resolved for $97,125.00 in damages founded on accusations including breach of contract, violation of FINRA rules, conversion, failure to supervise, breach of fiduciary duty, violation of California securities law, omissions and misrepresentations, suitability and fraud pertaining to the customers’ direct participation program investments. FINRA Arbitration No. 16-03515 (May 9, 2017).
Lunsford’s registration with Mid Atlantic Capital Corporation was terminated on December 4, 2015.
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