Roger Lee Owens of Elkton Maryland a stockbroker formerly employed by Cetera Advisors LLC is referenced in a customer initiated investment related arbitration claim where the customer requested $100,000.00 in damages founded on accusations that a fiduciary duty which had been owed to the customer by the stockbroker was violated and that the customer had been defrauded on Woodbridge Mortgage Investment Funds sold by Owens during the period in which he was associated with Cetera Advisors. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-03567 (Dec. 10, 2019). According to the claim, Maryland Securities Act and Maryland Consumer Protection Act were violated as were federal securities laws in regard to Owens’s Woodbridge sales.
FINRA Public Disclosure confirms that Owens has been identified in three more customer initiated investment related disputes concerning allegations of Owens’s misconduct while he was employed by Cetera Advisors. Owens is the subject of a customer initiated investment related arbitration claim which settled for $45,000.00 in damages supported by accusations of negligence and fraud relating to his sales of Woodbridge Mortgage investment Funds. FINRA Arbitration No. 18-01002 (May 17, 2019). The claim alleges violations on state and federal levels as well as the breach of a fiduciary duty that was owed to the customer.
On September 17, 2019, another customer filed an investment related arbitration claim involving Owens’s conduct in which the customer sought $125,000.00 in damages based upon allegations of the securities laws of Maryland and Delaware having been violated by the stockbroker through his private placement sales. FINRA Arbitration No. 19-02130. The claim alleges a breach of contract and a violation of a fiduciary duty by the stockbroker. According to the claim, Owens’s negligence resulted in the customer’s losses.
Owens is also referenced in a customer initiated investment related arbitration claim where the customer requested $150,000.00 in damages founded on accusations of federal and state securities law violations in regard to the Woodbridge Mortgage Investment Funds purchased through Owens. FINRA Arbitration No. 19-03218 (Dec. 4, 2019). The claim also alleges that transactions were fraudulent and had been effected in violation of his fiduciary duties. According to the claim, Owens’s negligence with Woodbridge Mortgage Investment Funds caused the customer to suffer losses.
Owens has been fined $10,000.00 and suspended for 12 months from associating with any FINRA member in any capacity supported by findings that he executed private securities transactions involving sales of $1,170,000.00 Woodbridge promissory notes to customers. Letter of Acceptance Waiver and Consent No. 2018058354501 (Aug. 14, 2019). Owens’s Woodbridge promissory notes sales were concealed from Cetera Advisor Advisors. His conduct was violative of FINRA Rules 2010 and 3280.