Michael Paul Lessard Jr. of Rock Hill South Carolina a stockbroker formerly employed by Dempsey Lord Smith LLC and representative of Palmetto Premier Advisors has been terminated from those firms between May 9, 2018 and July 3, 2018 founded on accusations that Lessard “borrowed funds” belonging to a customer in violation of the firm’s policy.

This is not the first time that Lessard has been terminated from a FINRA member brokerage firm after allegations of misconduct surfaced. Particularly, Lessard was discharged from former employer, MetLife, on September 5, 2014 based upon Lessard’s apparent admission to having failed to conform to the firm’s policy concerning the use of customer signatures on fixed annuity documentation.

Moreover, Lessard has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Lessard forged the signature of a customer on a fixed annuity application, and made false representations within the firm’s records concerning his activities. Letter of Acceptance Waiver and Consent No. 2014042703401 (Mar. 14, 2016). FINRA found that Lessard’s conduct was violative of FINRA Rules 2010 and 4511.

FINRA Public Disclosure further confirms that on May 9, 2018, a customer filed an investment related complaint involving Lessard’s conduct where the customer sought unspecified damages based upon accusations that while Lessard was associated with Southeast Investments, N.C. Inc. Lessard borrowed $60,102.48 from the customer, failed to repay the money according to their agreement, and misrepresented his qualifications to the customer.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer

Guiliano Law Group

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from all over the United States and several foreign countries. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at stockbrokerfraud.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com

Tags: ,

No comments yet.

Leave a Reply

Name (required)

Email (will not be published) (required)

Website