Albert Harkless III, Formerly of PFS Investments, Barred by FINRA After Allegedly Converting Client Funds

Harkless allegedly used a customer’s funds for his own personal expenses.

The Sonn Law Group is investigating allegations that Albert Harkless III converted client funds. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Albert Harkless III, Formerly of PFS InvestmentsAlbert Harkless III (CRD#: 2782039) was registered with PFS Investments from 2001 until 2018. On April 20, 2020, Harkless consented to the sanction of a bar from association with any FINRA affiliated firm.

He also consented to the entry of findings that he converted approximately $3,120 from a customer of his member firm by failing to purchase the securities for which the funds were provided to him and instead using it for personal use without the customer’s knowledge or consent. 

FINRA’s findings stated that Harkless solicited a customer to invest $6,100 to purchase shares in a company’s initial public offering. The customer provided the funds to Harkless to make the investment. However, Harkless purchased only a portion of the shares agreed to in the company in the aftermarket for $2,980 and converted the remaining $3,120.

The findings also stated that Harkless made misrepresentations to the customer by falsely stating that the company’s shares were available to purchase only to affiliated employees of the company, that there was a five-year sale restriction, and that the shares could not be transferred back to her because she was not an affiliated employee of the company.

Harkless has two other disclosures on his BrokerCheck report.

July 2019 Regulatory Judgment

Employment Separation After Allegations

Contact Us Today

The Sonn Law Group is currently investigating allegations that Albert Harkless converted client funds. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.