Willard Louis Pugh of Boca Raton Florida a stockbroker formerly employed by Dawson James Securities is the subject of a customer initiated investment related arbitration claim where the customer requested $155,000.00 in damages based upon accusations that the customer was provided with bad investment advice from Pugh as it concerned the customer’s investments in United Development Funding V. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-02087 (July 30, 2020).
According to the claim, inadequate due diligence was undertaken by the stockbroker prior to making recommendations of the real estate investment trust. The claim alleges that the real estate security was not appropriate for the customer and had resulted in an over-concentration in a risky product.
This is not the first time that Pugh has been the subject of a customer dispute regarding his misconduct in the securities industry. On June 29, 2020, a customer filed an investment related complaint involving Pugh’s conduct in which the customer sought $300,000.00 in damages founded upon allegations that Pugh placed the customer in unsuitable securities offered through a private placement during the time that he was associated with National Securities Corporation. FINRA Arbitration No. 20-02020 (June 29, 2020).
Pugh’s registration with Dawson James Securities and Dawson James Asset Management has been terminated as of June 14, 2016. He has been a stockbroker of National Securities Corporation since May 27, 2016 and an investment adviser representative of National Asset Management since June 15, 2016.