Thomas Joseph Logue Jr. of Hinsdale Illinois a stockbroker formerly registered with American Independent Securities Group LLC (AIGS) is referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $450,000.00 in damages founded on allegations that the customer had been placed into unsuitable asset-backed debt investments during the time that Logue was associated with American Independent Securities Group. FINRA Arbitration No. 20-00906 (Aug. 5, 2020).
FINRA Public Disclosure reveals that Logue has been identified in eight more customer initiated investment related disputes concerning accusations of his improper activities while registered with securities broker dealers including First Midwest Securities Inc. and American Independent Securities Group. On December 12, 2017, a customer initiated investment related complaint involving Logue’s conduct was resolved for $23,500.00 in damages supported by allegations of unsuitable and misrepresented transactions by Logue at American Independent Securities Group.
On February 16, 2018, another customer filed an investment related complaint regarding Logue’s conduct where the customer sought $188,025.76 in damages based upon accusations that unsuitable securities had been sold to the customer. The complaint also alleges that misrepresentations were made by the stockbroker in regard to investments.
Logue is also the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $80,000.00 in damages founded on allegations that Logue made unsuitable securities transactions in the customer’s account when he was associated with American Independent Securities Group. FINRA Arbitration No. 18-00424 (Oct. 26, 2018).
Logue is referenced in an additional customer initiated investment related FINRA securities arbitration claim in which the customer requested $400,000.00 in damages supported by accusations of Logue effecting unsuitable asset-backed debt transactions during the period that he was registered with American Independent Securities Group. FINRA Arbitration No. 19-02485 (Aug. 29, 2019).
On January 24, 2020, another customer initiated investment related FINRA securities arbitration claim concerning Logue’s activities was settled for $50,000.00 in damages based upon allegations of a breach of fiduciary duty by the stockbroker as it pertained to the customer’s bond transactions. FINRA Arbitration No. 19-01193. The claim alleges that unsuitable transactions were effected in the customer’s account by the stockbroker. On February 24, 2020, a different customer initiated investment related FINRA securities arbitration claim regarding Logue’s activities was resolved for $300,000.00 in damages founded on accusations of unsuitable investment recommendations being made by Logue resulting in damages to the American Independent Securities Group customer. FINRA Arbitration No. 18-03353.
Logue has been barred from associating with any FINRA member in any capacity supported by findings that he refused to cooperate with FINRA when he was investigated for possibly violating federal securities laws and FINRA rules as it related to his trading activities at AISG. Letter of Acceptance Waiver and Consent No. 2018057025501 (Sept. 14, 2018). Logue was instructed to testify from August 22, 2018 and August 23, 2018. The stockbroker told FINRA that he would not cooperate with the investigation. Logue violated FINRA Rules 2010 and 8210 given his refusal to testify.
