Sonn Law Group is investigating claims regarding Angela Marie Borchardt (CRD #4145563, Tomahawk, Wisconsin). Borchardt recently submitted an AWC in which she was barred from association with any FINRA member in any capacity. See FINRA Case #2013037650602. Borchard was registered with LPL Financial, LLC, from May 2011-May 2013, then Commonwealth Financial Network from May 2013 until her termination in July 2013. The Form U5 filed by Commonwealth Financial Network with FINRA to terminate Borchardt’s registration stated that the reason for the termination was that Borchardt “admitted to impersonating clients on recorded calls to former broker-dealer. Asked client to participate in withholding accurate information from current broker-dealer.”
FINRA found that Borchardt impersonated customers in phone calls to her prior member firm requesting that the customers’ accounts be liquidated so they could invest the proceeds through her new member firm. As result, Borchardt’s prior firm was deceived into liquidating all securities positions the customers held, without the customers’ knowledge or authorization, according to FINRA’s investigation. FINRA further found that Borchardt attempted to conceal her conduct by falsely informing her supervisors at her new firm that the customers were on the phone with her during the calls and by asking one of the customers to falsely inform her new firm that the customer had participated in the phone call. In entering into the AWC, Borchardt neither admitted nor denied FINRA’s findings.
If you were a client of Angela Borchardt, LPL Financial, or Commonwealth Financial Network., and have experienced investment losses, financial irregularities, or unauthorized transactions, please contact Sonn Law Group to explore your legal options. Sonn Law Group is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies. To learn more, please call us at 844-689-5754 or complete our “contact form.”