Alexander Capital Sued For Penny Stock Fraud
Peyton Nelson Jackson of New York New York a stockbroker formerly employed by Alexander Capital is the subject of a customer initiated investment related arbitration claim where the customer sought $280,000.00 in damages based upon accusations that (1) unsuitable recommendations or trades had been made by the stockbroker (2) fiduciary obligations were violated concerning restricted stock, penny stock and unregistered securities and (3) transactions were executed in violation of Virginia Securities Act when the stockbroker was associated with Alexander Capital. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-00913 (Mar. 7, 2018).
FINRA Public Disclosure reveals that Jackson is referenced in twelve more customer initiated investment related disputes that concern allegations of his violative conduct during the time that he was employed by securities broker dealers including Dawson James, Legend Securities and Alexander Capital. Specifically, Jackson is referenced in a customer initiated investment related arbitration claim which was resolved for $160,000.00 in damages supported by accusations that the customer’s account was administered negligently; fiduciary duties had been breached; contractual obligations were not complied with; and the customer had been defrauded on promissory note and over-the-counter equities transactions. FINRA Arbitration No. 16-02642 (Nov. 15, 2017).
Jackson is the subject of another customer initiated investment related arbitration claim which was settled for $100,000.00 in damages founded on allegations of bad investment recommendations made to a customer of Dawson James, Legend Securities and Alexander Capital; and Jackson selling away. FINRA Arbitration No. 15-03493 (Jan. 23, 2018). Also, a customer initiated investment related arbitration claim concerning Jackson’s activities was resolved for $15,000.00 in damages based upon accusations of poor investment advice by Jackson during the period in which he was associated with Dawson James, Legend Securities and Alexander Capital. FINRA Arbitration No. 15-03246 (Apr. 25, 2018).
FINRA Public Disclosure additionally confirms that Jackson has been barred from associating with any FINRA member in any capacity according to a Decision containing findings that Jackson obstructed the regulator’s investigation into allegations against him of breach of contract, breach of fiduciary duty, misrepresentation; unsuitability; and fraud. Department of Enforcement v. Peyton Nelson Jackson No. 2016049252901 (Sept. 27, 2017). Jackson failed to respond to seven of FINRA’s requests for testimony, information and documentation, and he neglected to respond to Department of Enforcement’s Complaint. FINRA Office of Hearing Officers found Jackson’s conduct violative of FINRA Rules 2010 and 8210.