Investigation of Wade J. Lawrence, Oppenheimer & Co., and Southwest Securities

Have you lost money with financial advisor Wade Lawrence of Dallas, Texas?  We are investigating allegations made by the Securities and Exchange Commission (SEC) against Wade J. Lawrence. The SEC brought a complaint against Wade Lawrence, alleging that from 2010 to 2013, he defrauded investors by making numerous misrepresentations and placing unauthorized trades in their accounts.  It was alleged that investors lost over $2 million because of Lawrence’s conduct.

The SEC further alleges that Wade Lawrence also received $480,000 from clients, representing that he would invest that money in his own personal accounts on their behalf.  Instead, he stole the money and used it for personal expenses and to pay back other investors their money, in a Ponzi scheme like fashion.  In a related action, Lawrence previously pleaded guilty to fraud and was sentenced to 36 months in prison.

Wade James Lawrence was a financial advisor and registered representative of Oppenheimer & Co., Inc. from June 2008 to July 2011.  Lawrence also worked with Southwest Securities from July 2011 to December 2013.  He worked at a branch office in Dallas, Texas.  Lawrence has been the subject of at least 10 customer complaints.

Brokerage firms like Oppenheimer & Co. and Southwest Securities have a responsibility to adequately supervise all representatives who are registered through their firm.  Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Texas. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James, ProEquities, Securities America, National Securities Corp., and many others.

Click to view:  Lawrence SEC Comp

Click to view:  Lawrence BrokerCheck 2.17.16

HAVE YOU LOST MONEY WITH WADE LAWRENCE, OPPENHEIMER, OR SOUTHWEST SECURITIES?   

              CONTACT ISRAELS & NEUMAN, PLC FOR A FREE CASE EVALUATION

                Denver Office: (720) 599-3505

                Seattle Office: (206) 795-5798