Thomas H Lawrence III of Chapel Hill Tennessee a stockbroker formerly employed by Ameritas Investment Corp has been identified in a customer initiated investment related arbitration claim where the customer sought $150,000.00 in damages founded on accusations that (1) false or misleading statements had been made in regard to the terms and conditions of alternative investments including direct participation program interests or limited partnership interests transactions and (2) transactions failed to be adequately supervised by Ameritas Investment Corp. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-03023 (Oct. 18, 2019).
FINRA Public Disclosure indicates that Lawrence is the subject of two more customer initiated investment related disputes pertaining to allegations of his bad business practices during the period in which he was employed by securities broker dealers including Ameritas Investment Corp. Specifically, a customer initiated investment related arbitration claim pertaining to Lawrence’s conduct had been settled for $475,000.00 in damages supported by allegations that fiduciary obligations were not complied with; transactions were not reasonably monitored by the securities broker dealer; direct investment recommendations failed to be suitable; investment information was concealed from the customer; misleading statements were made by the stockbroker pertaining to the risks and drawbacks of investments; and the customer was defrauded. (FINRA) Arbitration No. 16-03082 (June 7, 2018).
In addition, a customer filed an investment related complaint in reference to Lawrence’s conduct on February 12, 2019 where the customer sought $300,000.00 in damages based upon accusations that when Lawrence was associated with Ameritas Investment Corp., direct participation program interest or limited partnership interest transactions were unsuitable given the customer’s investment goals.
FINRA Public Disclosure also confirms that Lawrence has been fined $5,000.00; ordered to pay restitution; and suspended for two years from associating with any FINRA member in any capacity based on findings that when Lawrence was employed by Ameritas Investment Corp, he failed to comply with the securities broker dealer’s procedures and policies relating to customer loans; and borrowed funds from customers without making repayment. FINRA Decision and Order of Offer of Settlement No. 2016051945101 (Sept. 22, 2017).
Also, Lawrence has been barred from working as a stockbroker or investment adviser representative supported by allegations that the stockbroker neglected to comply with securities laws or regulations of the State of Tennessee; and the stockbroker entered into an undisclosed or unauthorized loan arrangement with a customer when he had been employed by Ameritas Investment Corp. Tennessee Securities Division Order No. Docket No. 12.01-157664J (June 20, 2019).
Lawrence’s employment with Ameritas Investment Corp. was terminated on December 27, 2016.
