SEC Bars Former LPL Rep Who Misappropriated Investors’ Funds

The SEC recently barred James T. Booth – a former registered representative of LPL Financial LLC and Invest Financial Corporation (IFC) – after Booth pled guilty to misappropriating nearly $5 million from dozens of investors.  

According to the SEC’s order, Booth pled guilty to one count of securities fraud on October 22, 2019 in a federal criminal proceeding before the United States District Court for the Southern District of New York. According to the Indictment, from 2013 through 2019, Booth allegedly told approximately 40 investors that their assets would be invested in securities, but instead used them to pay personal and business expenses.  He also used investor moneys to pay other investors. The misappropriated assets totaled $4.9 million. 

Booth worked for IFC from December 2005 through February 2018. He then moved to LPL, where he worked until his termination in May 2019.  Booth is 74 years old and a resident of Norwalk, Connecticut. 

The SEC has barred Booth from associating with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization.

If your funds have been misappropriated by Booth, you may have a claim against Booth or his employers, LPL and IFC. Please contact the Business Trial Group, and attorneys Jared Levy (561-812-1541) and Aiman Farooq (954-327-3041) will be happy to discuss your potential claims.

The Business Trial Group helps investors recover their financial losses on a contingency basis. You will never be charged hourly fees or expensive retainers. We are only paid if we successfully recover money for you.  

The Business Trial Group is backed by the size and skill of the largest contingency law firm in the nation, Morgan & Morgan – which has more than 700 lawyers and offices throughout the country. We regularly battle against brokerage firms, investment advisory firms, and banks, and have helped investors recover tens of millions of dollars of investment losses.