Shane Michael DeSherlia of Jerseyville, Illinois, a stockbroker registered with Moloney Securities Co. Inc., is the subject of a customer initiated investment related Financial Industry Regulatory Authority securities arbitration claim in which the customer requested $500,000.00 in damages based upon allegations that DeSherlia made unsuitable investment recommendations and was negligent in connection with the sale of “corporate bonds” when DeSherlia was associated with Moloney Securities Co. Inc. FINRA Arbitration No. 23-01941 (July 19, 2023).
This is not the first time that DeSherlia has faced allegations of sales practice violations by investors. FINRA Public Disclosure additionally shows that on November 17, 2023, a customer initiated investment related FINRA securities arbitration claim involving DeSherlia’s conduct was settled for $20,450.00 in damages based upon alleged negligence and unsuitable recommendations in “corporate bonds” during the time that DeSherlia was associated with Moloney Securities Co. Inc. FINRA Arbitration No. 22-01814.
DeSherlia is also referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $182,000.00 in damages based upon allegations that DeSherlia provided unsuitable advice to the customer. FINRA Arbitration No. 23-01821 (July 5, 2023).
Upon information and belief, these “corporate bonds” are in fact GWG Holdings Class L Bonds.
DeSherlia has been associated with Moloney Securities Co. Inc. in Jerseyville, Illinois since May 24, 2017, as a stockbroker. He has also been registered with Moloney Securities Asset Management LLC in Jerseyville, Illinois since November 7, 2019, as an investment advisor representative.
