Investors Accuse SunTrust Of Misrepresentation
Arthur Lee Boyd III of Lauderdale Lakes Florida a stockbroker formerly registered with SunTrust Investment Services Inc. is referenced in a customer initiated investment related written complaint which was settled for $10,000.00 on June 13, 2019 supported by allegations that (1) Boyd made misrepresentations concerning the risks of the bonds that he sold while employed by SunTrust and (2) Boyd made investment recommendations that were not suitable and which caused the customer to sustain losses.
This is not the first time that Boyd has been subject of an investor dispute alleging his wrongdoing. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that a customer filed an investment related complaint concerning Boyd’s activities where the customer sought $15,000.00 in damages founded on accusations that during the period in which the stockbroker was associated with LPL Financial LLC, the customer had been placed in mutual funds and a variable annuity that were unsuitable given the customer’s objectives for investing, tolerance for risk, liquidity needs or overall circumstances.
Boyd’s registration with SunTrust Investment Services was terminated on November 5, 2018. Since November 1, 2018, he has been employed by Cambridge Investment Research Inc.