Richard Grant Cody, of Spring Lake, New Jersey, a stockbroker formerly employed with Concorde Investment Services, LLC, has been named in a customer initiated investment related arbitration claim on September 13, 2017, in which the customer alleged that Cody effected floating rate note trades in the customer’s portfolio without the customer’s consent between 2013 and 2016.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that in 2017 alone, Cody has been identified in eleven additional customer initiated disputes regarding allegations of his improper conduct while associated with Concorde Investment Services LLC and Westminster Financial Services, Inc.
Particularly, on January 18, 2017, a customer filed an investment related written complaint involving Cody’s conduct, in which the customer requested more than $5,000.00 in damages based upon allegations that from 2013 to 2017, Cody misappropriated the customer’s investment funds intended for over-the-counter equities investments. Subsequently, on January 27, 2017, a customer filed an investment related written complaint regarding Cody’s activities, where the customer requested approximately $5,000.00 in damages based upon allegations that real estate security purchases were purchased in the customer’s account in 2015 without the customer’s consent.
Between March 21, 2017, and March 23, 2017, two customer initiated investment related written complaints involving Cody’s conduct were filed, in which the customers collectively requested $175,000.00 in damages based upon allegations of forgery and misappropriation in regard to the customers’ 2015 real estate security investments. Moreover, on April 24, 2017, a customer filed an investment related written complaint involving Cody’s conduct, in which the customer requested $164,358.00 in damages founded on allegations that Cody made misrepresentations to the customer concerning the balances in the customer’s investment portfolio.
Then, on July 5, 2017, a customer filed an investment related written complaint regarding Cody’s activities, based upon allegations that from March of 2016 to July of 2016, Cody traded the customer’s bond positions for notes despite lacking the customer’s consent. Cody has also been subject of a customer initiated investment related arbitration claim, based upon allegations including accounts mismanagement, forgery and fraud in regard to individual retirement account investments effected in the customer’s account from 2010 to 2017. FINRA Arbitration No. 17-02035 (Aug. 11, 2017).
In yet another customer initiated investment related arbitration involving Cody’s activities, a customer claimed to have been defrauded and victim to misrepresentations and unsuitable investment recommendations. Arbitration No. 17-01850 (Aug. 14, 2017). Further, a customer filed an investment related arbitration claim regarding Cody’s activities, alleging fraud and unauthorized trades in the customer’s individual retirement account from 2011 to 2016. FINRA Arbitration No. 17-02079 (Aug. 23, 2017). An arbitration claim was then brought by a customer seeking at least $5,000.00 in damages based upon allegations of account mismanagement and fraud. FINRA Arbitration No. 17-02079 (Aug. 28, 2017).
Cody’s employment with Concorde Investment Services, LLC, was terminated on August 5, 2016.
Guiliano Law Group
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