William Colie Johnson, of Greenville, South Carolina, a stockbroker formerly registered with Voya Financial Advisors Inc., is referenced in a customer initiated investment related civil action where the customer sought compensatory damages founded on accusations of the customer being sold unsuitable alternative investments because of Johnson during the time that he was associated with Voya Financial Advisors. Civil Action No. 2021-SP-23-04676 (October 4, 2021). According to the lawsuit, the customer was placed into illiquid and risky real estate securities. The lawsuit alleges that misrepresentations about the customer’s income information and net worth had been made by Johnson on account documents.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Johnson has been identified in nine more customer initiated investment related disputes concerning allegations of his harmful activities during the time that he was registered with Voya Financial Advisors and ING Financial Partners.
A civil action regarding Johnson’s activities was resolved for $350,000.00 in damages based upon accusations of breach of fiduciary duty, fraud, and violation of South Carolina securities laws relating to the customer’s variable annuity purchase through Johnson when he was employed by ING Financial Partners. Civil Action No. 2011-CP–23-0336 (April 20, 2016). The lawsuit alleges that the customer was placed into an unsuitable variable annuity based on their needs. According to the lawsuit, Johnson made misrepresentations regarding the products.
Johnson is the subject of a customer initiated investment related written complaint on March 17, 2017. The customer requested $22,000.00 supported by allegations of Johnson’s sales practice violations relating to exchange-traded fund products and real estate securities, resulting in damages to the customer.
On October 15, 2020, another customer filed an investment related FINRA securities arbitration claim involving Johnson’s activities. The customer sought $200,000.00 in damages founded on accusations of unsuitable business development company (BDC) and mutual fund investments while Johnson was registered with Voya Financial Advisors. FINRA Arbitration No. 20-03437.
Johnson is also identified in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $250,000.00 based upon allegations of them being placed into an unsuitable investment strategy by Johnson concerning alternative investment purchases between 2013 and 2017 that resulted in damages to the customer. FINRA Arbitration No. 21-01575 (July 2, 2021).
On July 21, 2021, a different customer filed an investment related complaint regarding Johnson’s conduct. The customer sought $48,850.00 in damages supported by accusations of Johnson providing an unsuitable investment recommendation to the customer relating to a non-traded real estate investment trust.
Johnson is also referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $100,001.00 in damages founded on allegations of Johnson making misrepresentations concerning the risks of a real estate investment trust during the time that he was associated with Voya Financial Advisors. FINRA Arbitration No. 21-01655 (September 10, 2021).
On September 15, 2021, an additional customer filed an investment related FINRA securities arbitration claim involving Johnson’s activities. The customer sought $90,000.00 in damages based upon accusations of bad advice by Johnson regarding risky and illiquid alternative investments. FINRA Arbitration No. 21-02293. According to the claim, the customer was misled about the risks of real estate security products.
Johnson’s stockbroker and investment adviser representative registrations with Voya Financial Advisors have been terminated as of August 27, 2019. Johnson has been registered with Cadaret Grant Co. Inc. as a stockbroker since August 2, 2019, and registered with Cadaret Grant as an investment adviser representative since August 7, 2019.
