Texas Brokerage Firm Ordered to Pay Investor $2.5 Million

Posted on April 8th, 2014 at 10:00 AM

From the Desk of Jim Eccleston at Eccleston Law Offices:

In a recent arbitration award, Golden Beneficial Securities Corp., a brokerage firm headquartered in Texas, has been ordered to pay an investors couple about $2.5 million for failing to supervise a broker who allegedly perpetrated a Ponzi scheme.

The broker claimed he invested in a bond fund and other investments but it turned out the money went into a Ponzi scheme. The retired couple basically lost their savings. 

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

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