FINRA Bars Former Voya Advisor James T. Flynn for Providing Misleading Information and Trading Ahead of Authorization

james-t-flynnJames T. Flynn (CRD# 3082615) was a previously registered broker. From 2017 to 2018, Mr. Flynn was registered with IFS Securities based in Greenville, South Carolina.

Prior to working for IFS, Mr. Flynn was registered with Voya Financial Advisors from 2013 to 2017, also based in Greenville.

FINRA Bars James Flynn for Failing to Respond to a Request for Information

Mr. Flynn was terminated from his position with Voya following allegations that he provided misleading information to the firm during a complaint investigation. Mr. Flynn was then also terminated by IFS after allegations that he engaged in trading ahead of authorization.

After his failure to respond to a request for information, FINRA permanently barred Mr. Flynn from the finance industry.

According to Mr. Flynn’s BrokerCheck report, FINRA notified Mr. Flynn via Notice of Suspension and Suspension from Associations letters in June 2018. The letters were sent after Mr. Flynn failed to respond to FINRA’s request for information during an investigation.

Mr. Flynn further failed to request a termination of his suspension within three months, automatically barring him from association with any FINRA member firm.

BrokerCheck: 19 Customer Disputes Filed Against Flynn

Mr. Flynn’s BrokerCheck report also contains 37 total disclosures, including bankruptcy, tax and civil liens, and numerous customer dispute arbitrations.

So far, arbitrations against Mr. Flynn have been settled for a total of over $500,000. Since FINRA’s regulatory action on June 1, 2018, Mr. Flynn has had 19 customer disputes filed against him, 13 of which are still pending.

These disputes are requesting in the aggregate at least $3.75 million in damages for allegations of misrepresentation and frequent recommendations for unsuitable and illiquid securities.

Many of the claims against Mr. Flynn likely involve investments in non-traded real estate investment trusts (REITs). REITs are portfolios of commercial real estate properties that receive income, like apartment complexes and hotels.

Non-traded REITs are very similar, but because they are not publicly traded, they come with additional risks, including limited resale value and relatively high illiquidity and high fees and commissions. In many cases, non-traded REITs are unsuitable for an investor’s investment goals.

Did You Suffer Losses Investing with James Flynn?

If you invested with James Flynn and IFS Securities or Voya Financial Advisors, you may have a claim. Sonn Law Group’s experienced arbitration lawyers may be able to help you recover your investment. Contact Sonn Law Group today for a free consultation.