Did you lose money investing with Kenton Crabb (a/k/a Ken Crabb) (CRD# 2397338)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Kenton Crabb (a/k/a Ken Crabb). If you suffered losses investing with Kenton Crabb (a/k/a Ken Crabb), then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of June 18, 2020, Kenton Crabb (a/k/a Ken Crabb)’s FINRA BrokerCheck Report contains the following:
SUSPENDED: FINRA has suspended this individual from acting as a broker. Please see the detailed report for more information.
Disclosure Events
1 Regulatory Event(s)
UPDATE 6/18/2020: According to FINRA’s April 2020 Disciplinary Actions: Kenton Christopher Crabb (CRD #2397338, Mooresville, North Carolina) February 28, 2020 – An AWC was issued in which Crabb was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for six months. Without admitting or denying the findings, Crabb consented to the sanctions and to the entry of findings that he willfully failed to amend or timely amend his Uniform Application for Securities Industry Registration or Transfer forms (Form U4) to disclose federal and state tax liens totaling nearly $1.7 million. The findings stated that Crabb disclosed a federal lien approximately seven years after learning of its existence, a federal lien and three state liens approximately two years after learning of their existence, and two federal liens approximately one year after learning of their existence. For three federal liens and one state lien, totaling more than $1.1 million, Crabb failed to make any disclosures at all. With respect to three of the liens that he untimely disclosed, Crabb represented on his Form U4 that the liens were satisfied when they were not. The findings also stated that Crabb falsely attested on his member firm’s annual compliance questionnaires that he did not have any unsatisfied judgments or liens. The suspension is in effect from March 2, 2020, through September 1, 2020. (FINRA Case #2018059489001)
Current and Previous Registrations
03/07/2001 – 11/16/2018 DESTINY CAPITAL SECURITIES CORPORATION (CRD#:107942) GOLDEN, CO
03/27/1995 – 05/02/2001 MUTUAL SERVICE CORPORATION (CRD#:4806) BOSTON, MA
10/21/1993 – 03/28/1995 ALLMERICA INVESTMENTS, INC. (CRD#:3960) WORCESTER, MA
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Kenton Crabb (a/k/a Ken Crabb) and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
