In May, 2017, a FINRA arbitrator panel sitting in Los Angeles issued a $1,378,800 binding arbitration award against Charles Laverty in a case involving personal loans that the clients made to Laverty.
The underlying matter involved allegations that Charles Laverty breached his fiduciary duty by soliciting a loan in violation of firm and industry rules. Allegations were also raised concerning the mismanagement of the account. Among the claims made were those for fraud, violations of state and federal securities laws and violations of FINRA’s rules.
After a twelve day arbitration hearing stretching from June, 2016 to April, 2017, the arbitrators rendered their decision and awarded the Claimant $1,378,800 in damages.
As a result of this award The Law Office of David Liebrader has opened an investigation into Charles Laverty.
Charles Laverty’s broker check lists three customer complaints and two regulatory investigation. Although he is not presently licensed, he has been registered with TCFG Wealth Management, Calton and Associates, Oppenheimer and Company and UBS Financial over 10 years in the securities industry.
FINRA Code of Arbitration Procedure section 12904 governs the issuance and payments of awards. Key provisions of the rule are that the award may be entered as a judgment in any court of competent jurisdiction, after a motion to confirm the award is filed pursuant to state or federal law. Furthermore, unless the applicable law directs otherwise, all awards rendered under the Code of Arbitration Procedure are final, and are not subject to review or appeal. Grounds for overturning binding FINRA arbitration awards are extremely limited. Charles Laverty has thirty days to pay the award, or to seek to have the award vacated.
If you are the victim of investment fraud, or if you have lost money investing with Charles Laverty please call The Law Office of David Liebrader at (702) 380-3131 for a free, confidential consultation to discuss your legal rights and options. Our firm takes cases on a straight contingency fee, with no money up front, and no money owed unless there is a recovery.
There is no charge for the initial consultation, so call (702) 380-3131 today to speak with an experienced securities attorney who will fight to recover your losses.
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.