J.D. Phillips Jr, Previously Registered Broker From MetLife Securities, Accused of Unfair and Deceptive Trade Practices
J.D. Phillips, whose full name is John Dalton Phillips, Jr., previously registered broker with MetLife Securities, Inc., is the subject of multiple customer disputes, according to BrokerCheck, an online broker research online tool offered by Financial Industry Regulatory Authority (FINRA).
Five of these disputes have been resolved, and four remain pending.
Customer Disputes Involving John Dalton Phillips Jr.
All the customer disputes involving Phillips pertain to his time of employment with MetLife Securities, Inc. Furthermore, all the complaints accuse Phillips of engaging in unfair and deceptive trade practices and securities fraud. The accusations are tied to the broker’s recommendations to invest in private securities, according to BrokerCheck.
One dispute points to Phillips’ involvement in an investment into a “fictitious entity” around 2008. Another dispute sheds light on the broker’s involvement in investments known as the “Wall Street Capitol Ponzi Scheme,” starting in 2015.
Phillips’ former customers have alleged damages ranging from $25,000 to $1 million.
To date, five customer disputes have settled. Settlement amounts have ranged between $86,000 and $1,190,000.00.
If John Dalton Phillips Jr. Caused You to Sustain Financial Loss, We Can Help
The Securities and Business Litigation team at Levin, Papantonio, Rafferty, Proctor, Buchanan, O’Brien, Barr & Mougey, P.A. is investigating claims from investors who sustained financial loss because of John Dalton Phillips, Jr.’s unfair and deceptive trade practices and securities fraud.
Because Phillips was a registered broker at MetLife Securities, Inc. at the time of these allegedly bad practices, the firm may be responsible for the losses he caused investors. MetLife has a duty to supervise brokers registered with the firm. It is their job to ensure that their brokers comply with securities rules and regulations.
If you lost money because of Phillips, MetLife might be held liable, and you may be able to recover your losses. Our firm will investigate your case and work to recover your financial losses. We charge you attorney’s fees only if we recover for you.
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