Investors Sue Royal Alliance For Selling Away Bad Dope Stocks
Darrin Barton Farrow of Rocky River Ohio a stockbroker formerly registered with Royal Alliance Associates is the subject of a customer initiated investment related written complaint on February 19, 2020 where the customer sought $350,000.00 in damages based upon accusations that the customer was placed into an unapproved investment by Farrow during the time that Farrow was associated with Royal Alliance Associates. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-00589 (Feb. 20, 2020).
Farrow has been identified in five customer initiated investment related disputes containing allegations of his misconduct while employed by Royal Alliance. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on November 2, 2016, a customer filed an investment related complaint involving Farrow’s conduct in which the customer requested damages estimated to exceed $5,000.00 based upon allegations that the customer had been sold two non-traded real estate investment trust products in which misrepresentations were made by the stockbroker.
Farrow is the subject of another customer initiated investment related arbitration claim where the customer sought $100,000.00 in damages founded on accusations of non-approved investments being sold to the customer while Farrow was employed by Royal Alliance Associates. FINRA Arbitration No. 19-2700 (Oct. 10, 2019). On January 15, 2020, another customer initiated investment related arbitration claim pertaining to Farrow’s conduct was settled for $92,500.00 in damages supported by allegations that an unauthorized securities transaction had been facilitated by Farrow during the period that he was employed by Royal Alliance resulting in the customer’s losses. FINRA Arbitration No. 18-03895 (Jan. 15, 2020).
Farrow is also the subject of a customer initiated investment related arbitration claim where the customer sought $150,000.00 in damages based upon accusations of a bad private investment transaction effected by Farrow which resulted in undue losses for the Royal Alliance customer. FINRA Arbitration No. 20-00304 (Jan. 28, 2020).
Farrow has also been fined $25,000.00 and suspended for twelve months from associating with any FINRA member in any capacity based upon findings of his undisclosed outside business activities while he was registered with Royal Alliance. Letter of Acceptance Waiver and Consent No. 2015045751101 (June 23, 2016). The AWC stated that six customers were advised by Farrow to invest $1,000,000.00 in membership interests in MAD Oregon LLC. FINRA found that Farrow’s failure to notify Royal Alliance about these transactions constituted the violation of FINRA Rules 2010 and 3270 as well as NASD Rule 3040.
Farrow was terminated by Royal Alliance founded on accusations of him taking part in an offering of shares through an undisclosed outside business activity. The stockbroker was employed by Triad Advisors Inc. between June 3, 2015 and May 31, 2016.