Investors Seek Millions in Disputes with Billy Aycock

Billy Aycock (CRD #: 4069907), a broker registered with Cabin Securities, is the subject of more than a dozen investor disputes. This is according to his BrokerCheck record, accessed on December 14, 2024. Investors may have also worked with him through Cabin Advisors. Keep reading if you have questions regarding his conduct. 

Investor Allegations 

On November 20, 2024, an investor alleged that Billy Aycock breached his contract, engaged in negligence, and violated Connecticut securities laws. The client seeks $100,000 in this pending dispute.

A pending dispute filed on April 10, 2024, named Billy Aycock in allegations of negligence, misrepresentation, failure to supervise, breach of contract, unsuitability, and violation of FINRA rules with regard to iCap Equity LLC notes. The client seeks $300,000 in damages.

On March 29, 2024, an investor filed a dispute alleging that Billy Aycock breached his contract, violated federal securities law, and engaged in common law fraud, negligence, and gross negligence. They seek $412,371 in damages.

In a pending dispute filed on February 5, 2024, an investor named Billy Aycock in allegations of breach of contract, negligence and negligent supervision, and violation of Illinois securities law with regard to investments in Franklin Realty BSP and Hospitality Investment Trust. They seek $100,001 in this pending dispute.

On January 29, 2024, an investor named Billy Aycock in allegations of breach of contract, negligence and negligent supervision, fraudulent inducement to hold an investment, and violation of Illinois securities law in relation to investments in Hospitality Investors Trust REIT, Lodging Opportunity Fund REIT, and Priority Income Fund. The client seeks $105,000 in this pending dispute.

Disputes Involving GWG Holdings

On February 22, 2024, an investor alleged that Billy Aycock engaged in common law fraud and gross negligence regarding the following investments: Spring Hills Holdings, Tasty Brands, GWG L Bonds, Priority Income Fund, Archon Growth, and Income Residential. The investor is seeking $815,000. 

Seven disputes filed in January and February 2024 named Billy Aycock in allegations involving GWG Holdings L Bonds. These allegations involved a lack of due diligence, unsuitability of real estate investment trust (REIT) investments, negligence, failure to supervise, and violation of state securities laws. They seek a collective $1.111 million in damages.

Two disputes filed on January 25, 2024, alleged that Billy Aycock improperly recommended unsuitable investments and failed to conduct his due diligence on purchases of GWG L Bonds. The investors seek a total of $2.045 million in damages. 

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulative, deceptive, or otherwise fraudulent tactics to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

FINRA Rule 3110

FINRA Rule 3110 requires that firms establish systems of supervision to maintain their compliance with securities regulations. This includes appointing supervisors and providing them with Written Supervisory Procedures (WSPs).

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status
• Financial goals

Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.

Background Information 

Billy Aycock has passed the following exams: 

• Series 66 Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 24 General Securities Representative Examination 
• Series 10 General Securities Sales Supervisor – General Module Examination 
• Series 9 General Securities Sales Supervisor – Options Module Examination 

He is a registered broker in 25 states and is a registered investment adviser in Tennessee. 

Billy Aycock has also registered with the following firms: 

• Center Street Securities (CRD #: 26898)
• Center Street Advisors (CRD #: 169329)
• Arete Wealth Advisors (CRD #: 145488)
• Arete Wealth Management (CRD#:44856)
• Brookstone Capital Management (CRD#:141413)
• Jackson National Life Distributors (CRD#:40178)
• Park Avenue Securities (CRD#:46173)
• AXA Advisors (CRD#:6627)
• Quick & Reilly (CRD#:11217)

Kurta Law Can Help 

If you have worked with Billy Aycock and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.