Garland Wayne Benton Jr., of Richardson, Texas, a stockbroker formerly registered with Reef Securities, Inc., has been named in a customer initiated investment related arbitration claim on April 14, 2014, in which the customer requested $946,670.00 in damages based upon allegations that Benton engaged in unauthorized investment solicitations, breached his contractual duties, omitted facts concerning risks of direct investment programs and oil and gas investments, and failed to appropriately conduct due diligence. The customer further alleged that Reef Securities, Inc. failed to supervise Benton’s activities.
Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals that on September 9, 2013, a customer initiated investment related arbitration claim regarding Benton’s activities was resolved for $15,000.00 in damages based upon allegations that Benton made misrepresentations to the customer concerning an oil and gas investment.
On April 6, 2015, Benton’s registration with Reef Securities Inc., was terminated based upon allegations that Benton sold investments to customers outside the auspices of his firm, and possibly violated FINRA Rules 2010, 3270, and 3040.
Guiliano Law Group
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To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com
