Clayton Wertz allegedly created false brokerage account statements to help a client secure and maintain a multi-million dollar bank loan and line of credit.
Did you lose money investing with Clayton Wertz? Under FINRA Rules, brokerage firms are liable for their brokers’ misconduct and investors may be able to their investment through FINRA arbitration. Contact Sonn Law Group today or call us at 866–827–3202 for a free consultation.
Former First Canterbury Securities Broker Clayton Wertz (CRD#:2931973) has been barred by FINRA for allegedly creating false brokerage account statements for a client showing approximately $2 million worth of securities even though the client’s account was never funded. The false account information was then used to secure a $1.8 million loan.
According to FINRA, Mr. Wertz received $10,000 on behalf of the client with a promise of more investing in the future in addition to $40,000 each time Mr. Wertz provided a fabricated monthly account statement to a bank.
The fabricated account statements allowed the client to get additional loans and increase their line of credit, both of which they eventually defaulted on. The bank suffered losses in excess of $3.2 million.
Other employers included First Financial Equity Corporation (2015–2016); Aspen Equity Partners, LLC (2012–2015); and Southwest Securities, Inc. (2007–2012) according to BrokerCheck.
Jeffrey R. Sonn is an experienced investor losses attorney. If you suffered losses because a financial professional or corporate executive committed misconduct, Mr. Sonn will protect your rights and interests. Please do not hesitate to contact the Sonn Law Group today for a free review of your claim.