Scott Jason Lee of Cold Spring, Minnesota, a stockbroker formerly registered with Moloney Securities Co. Inc., is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $500,000.00 in damages based upon allegations that Lee made unsuitable investment recommendations and was negligent in connection with the sale of “corporate bonds” during the time that Lee was associated with Moloney Securities Co. Inc. FINRA Arbitration No. 23-01588 (June 6, 2023).
FINRA Public Disclosure shows that Lee is referenced in seven other customer initiated investment related disputes concerning Lee’s conduct while associated with securities broker dealers. On April 8, 2021, a customer initiated investment related complaint involving Lee’s conduct was settled for $32,800.00 in damages based upon allegations that Lee made unsuitable recommendations in connection with the sale of direct investments when Lee was associated with Moloney Securities Co. Inc. Public Disclosure also shows these claims involved the sale of GWG Holdings Class L Bonds.
On December 27, 2023, a different customer initiated investment related complaint involving Lee’s conduct was settled for $60,250.00 in damages based upon allegations that Lee made unsuitable recommendations in direct investments.
On January 12, 2024, a different customer initiated investment related FINRA securities arbitration claim involving Lee’s conduct was settled for $7,500.00 in damages based upon allegations that Lee breached his duties, failed to perform due diligence, and made unsuitable recommendations in REITs when Lee was associated with Moloney Securities Co. Inc. and Ausdal Financial Partners Inc. FINRA Arbitration No. 22-02001.
Lee is also referenced in a securities arbitration claim that was settled for $45,000.00 in damages based upon allegations that Lee engaged in unsuitable recommendations and was negligent in connection with the sale of corporate bonds. FINRA Arbitration No. 22-02001 (January 22, 2024).
On April 5, 2023, a customer filed a securities arbitration claim involving Lee’s conduct in which the customer requested $103,000.00 in damages based upon allegations that Lee was negligent and provided unsuitable advice to the customer, resulting in damages. FINRA Arbitration No. 23-00821.
Lee is also referenced in a securities arbitration claim in which the customer requested $150,000.00 in damages based upon alleged unsuitable advice and negligence in connection with the sale of direct investments. FINRA Arbitration No. 23-00744 (April 3, 2023).
Lee was associated with Moloney Securities Co. Inc. in Cold Spring, Minnesota from April 5, 2016, to April 2, 2019. Lee was associated with Ausdal Financial Partners Inc. in Cold Spring, Minnesota from April 1, 2019, to June 22, 2021
