Troy Thomas of Huntington Beach, California, a stockbroker registered with McDermott Investment Services LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested compensation based upon allegations that Thomas committed fraud, failed to supervise certain representatives, was negligent, breached his fiduciary duties, and made unsuitable investment recommendations in connection with the purchase of certain Delaware Statutory Trusts when Thomas was associated with McDermott Investment Services LLC. FINRA Arbitration No. 23-00125 (January 13, 2023).
This is not the first time that Thomas has been referenced in a customer initiated investment related dispute concerning Thomas’ conduct in the securities industry. FINRA Public Disclosure shows that Thomas is also referenced in a customer initiated investment related civil action in which the customer requested compensation based upon allegations that Thomas made misrepresentations of material fact, committed fraud, breached his fiduciary duties, was negligent, and committed elder abuse in connection with the sale of direct investments during the time that Thomas was associated with Direct Capital Securities Inc. Civil Action No. 30-2010-00419165 (October 29, 2010).
Thomas was also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $200,000.00 in damages based upon allegations that Thomas made unsuitable recommendations and made misrepresentations of material fact about direct investments when Thomas was associated with Direct Capital Securities Inc. FINRA Arbitration No. 10-03618 (October 14, 2011).
Thomas has been associated with McDermott Investment Services LLC as a stockbroker since December 19, 2012, and associated with McDermott Investment Advisors LLC as an investment advisor representative since April 24, 2013.
