Former LPL broker Leslie Koonce has been barred from the securities industry by the Financial Industry Regulatory Authority Inc. (FINRA) for denying he took part in the sale of private securities.
According to FINRA, former LPL broker Leslie Koonce misrepresented his involvement in private securities transactions, reporting in compliance questionnaires that he did not participate in any such transactions.
Regulators said that between January and June 2012, Koonce solicited at least 30 prospective investors for convertible promissory notes offered by a private company. Shortly after, he helped three LPL customers move $175,000 so that they could invest in the convertible promissory notes. He also made an investment of $50,000 of his own money in the notes.
FINRA notes that former LPL broker Leslie Koonce did all of this without notifying LPL of his participation in the transactions, which he was required to do.
LPL Broker Leslie Koonce Barred from Securities Industry
Leslie Koonce began his career in the securities industry in 1974 at Hornor, Townsend and Kent. He was terminated by LPL Financial in December 2015 and was briefly affiliated with Cetera and EK Riley Investments. As of publishing, Leslie Koonce is not employed in the securities industry.
Are You a Victim of Stockbroker Misconduct?
If you lost money on investments made with Leslie Koonce or believe you are a victim of stockbroker misconduct, contact a qualified securities fraud attorney today.
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