Broker Investigation: Jerry Raines, former H.D. Vest broker

Jerry Raines (CRD#: 4578689) was previously registered as a FINRA broker. From August of 2014 to May of 2017, Mr. Raines was employed as a securities representative at H.D. Vest Investment Services in Kilgore, Texas.

Thus far, in the first seven months of 2018, 14 different customer complaints have been filed against this broker. These complaints predominantly relate to investor losses sustained in the Woodbridge Wealth Ponzi scheme. Here, our investment fraud lawyers provide an overview of these complaints.

Woodbridge Wealth Losses: Jerry Raines

Former H.D. Vest Investment services broker Jerry Raines is being investigated for negligently recommending that his clients invest in the Woodbridge Wealth group of companies. In late 2017, Woodbridge Wealth declared bankruptcy and it was exposed as a Ponzi scheme by the Securities and Exchange Commission (SEC).

Sadly, innocent investors sustained major losses as a result of the Woodbridge Wealth fraud. Investment fraud lawyer Jeffrey R. Sonn has discussed the $1.2 billion Woodbridge Ponzi scheme on NBC 6 in Miami.

Brokers and brokerage firms that recommended Woodbridge Wealth investments to clients may potentially be legally liable for investor losses. Currently, FINRA lists fourteen complaints that have been filed against Mr. Raines. Most of these complaints are related to Woodbridge Wealth investments. As of early August of 2018, all fourteen of these investor complaints are listed as ‘pending’.

We are Fierce Advocates for Investors

At Sonn Law Group, our experienced securities litigation lawyers handle legal claims nationwide. If you lost money due to broker fraud, please call our legal team today for a free, no obligation case evaluation.

Disclaimer: This article contains opinions and NOT statements of fact in any way whatsoever. The information here is general information that should not be taken as legal advice. NO attorney-client relationship is established between you and our attorneys by reading this article. This article is attorney advertising and should not be used as a substitute for legal advice from a qualified securities lawyer.

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