Adam Estes suspended by FINRA
In September, 2016, the Financial Industry Regulatory Authority (“FINRA”) announced that Adam Estes of Bloomington, Indiana, a registered representative formerly with JJB Hilliard submitted an acceptance, waiver and consent letter whereby he was suspended from association with any FINRA member in any capacity for fifteen months and fined $15,000. The FINRA complaint asserted that Adam Estes participated in over one million dollars of private securities transactions away from the firm, without obtaining permission from JJB Hilliard. FINRA also found that Estes made misrepresentations and omissions to JJB Hilliard regarding his involvement in the private securities transactions on the firm’s annual compliance questionnaires.
Registration and disciplinary history
In order to lawfully sell investments to the public, a registered rep must either be registered or exempt from registration. Adam Estes was registered with JJB Hilliard from 2000 to 2016.
According to FINRA’s CRD disclosure report, Adam Estes has been the subject of one customer complaint and one regulatory investigations.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.
When investors contact our firm they can expect prompt attention, and a detailed analysis of their issues. Typical claims that we are asked to review involve “unsuitability (where a financial advisor makes investment recommendations that are inconsistent with a customer’s investment objectives), claims for “churning” (where a broker enters into an excessive number of trades for the purpose of generating commissions), claims involving illiquid investments such as private placements (I.e., real estate investment trusts, limited partnerships, equipment leasing and oil and gas drilling programs) as well as claims for violations of state securities laws, which often provide investors remedies like attorney’s fees and interest, if they are successful on the claim.
If you suspect that you have been the victim of investment fraud, or had a financial advisor recommend unsuitable investments to you, call us today for a free, confidential consultation at (702) 380-3131.