Naples, FL., — Vernon Litigation Group, based in Naples, Florida is representing a retiree with dyslexia, who was solicited to invest by barred broker Howard J. Goldman. Our client was solicited to invest in a trading program run by Mr. Goldman through Velocity Clearing, LLC. Velocity Clearing failed to disclose to our client that Mr. Goldman was not a registered representative of Velocity Clearing, and that Mr. Goldman had been barred by FINRA over 20 years ago. Velocity Clearing permitted Mr. Goldman to enter short sale trades on behalf of our client, losing more than 80% of his account in less than one month.
FINRA rules require representatives in the securities industry to be properly registered. As a result of Velocity Clearing’s regulatory breach, the investor is seeking compensatory damages, punitive damages, costs, interest, and attorney’s fees under the Florida Securities Act Chapter 517. If you, or someone you know was solicited to invest by Howard J. Goldman, please contact one of our securities attorneys to discuss your rights.
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