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Investors Allege Fraud in Dispute with Jim Lund

Jim Lund (CRD #: 1713921), a broker registered with Cabot Lodge Securities, is involved in a pending dispute, according to his BrokerCheck record, accessed on April 28, 2023. Keep reading if you have questions about his alleged conduct as a broker.

Investor Disputes

On February 28, 2023, several investors filed a dispute alleging that Jim Lund engaged in the following forms of misconduct with regard to GWG L Bonds purchased by the clients in 2018 and 2019:

These clients seek $100,001 in damages in this pending dispute.

On August 15, 2019, an investor alleged that Jim Lund engaged in misrepresentation and violated the suitability rule with regard to an investment made in March 2015. The client sought $1,423,796 in damages and received a settlement of $100,000.

FINRA Rule 2010

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

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must consult the investor’s profile, which contains information about their tax status, risk tolerance, and age.

Investors who rely on brokers for recommendations may be able to recover their losses through FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 bans the use of fraudulent tactics, like deception or manipulation, as they relate to the purchase and sale of securities. This includes the misrepresentation or omission of material facts.

What is broker negligence?

Brokers may act in many negligent ways. Typical examples include excessive trading, misrepresenting material facts, and failing to supervise other brokers.

Investors who feel their losses are the result of broker negligence may be able to recover their funds by pursuing FINRA arbitration

Background Information

Jim Lund has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 24 – General Securities Principal Examination

Jim Lund is a registered broker in 13 states.

He has also worked for the following firms:

  • Concorde Investment Services (CRD#:151604)
  • CapWest Securities (CRD#:30002)
  • United Securities Alliance (CRD#:36487)
  • Investors Capital Corporation (CRD#:30613)
  • FSC Securities (CRD#:7461)
  • Laguna Securities (CRD#:37547)

Kurta Law Can Help

If you worked with Jim Lund and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and 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.