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William Winchester is Facing Allegations of Conversion in a $3 Million Dispute

Mar 15, 2022 Broker Theft

William Winchester (CRD #: 4404327), formerly of Cadaret, Grant & Co., is the subject of a regulatory action in Tennessee, according to his BrokerCheck record, accessed on March 2, 2022. This followed his termination from Raymond James Financial Services. Investors who have worked with William Winchester should keep reading.

On November 16, 2021, an investor alleged that William Winchester misrepresented that her grandfather had set up a trust account for her with William Winchester as a trustee. She believes that the account was used to hide William Winchester’s alleged conversion of funds. The investor is seeking $3,000,000; the dispute is pending.

Also on November 16, 2021, an investor alleged that William Winchester concealed the amount of funds deposited into her account by her grandfather and later borrowed funds from the account without the investor’s knowledge.

Tennessee Regulatory Action

On June 11, 2020, William Winchester became the subject of a regulatory action. The Tennessee Securities Division allegedly engaged in dishonest and unethical practices by failing to disclose to his firm three loans with three different clients. FINRA Rule 3240 states that brokers may not borrow money from their customers except under a strict set of circumstances. Tennessee ordered him to pay a fine of $45,000 and to complete five FINRA training courses. The state also ordered a three-year period of heightened supervision.

Employment Separation After Allegations

Raymond James Financial Services fired William Winchester following allegations that he failed to disclose a business loan arrangement and two personal loan arrangements with his clients. This included a promissory note with a client related to his role as an executor of the investor’s father’s estate.

Background Information

William Winchester 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 Principal Examination

He has worked with the following firms:

  • Cadaret, Grant & Co. (CRD #: 10641)
  • Raymond James Financial Services (CRD #: 6694)
  • LPL Financial (CRD #: 6413)
  • SunTrust Investment Services (CRD #: 17499)
  • First Tennessee Brokerage (CRD #: 17117)
  • AmSouth Investment Services (CRD #: 15692)

Kurta Law Can Help

If you have worked with William Winchester and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated on behalf of investors who have lost money following broker fraud or misconduct. Kurta Law is a nationally recognized law firm and exclusively represents investors on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Our attorneys will work tirelessly to restore your lost funds and get your financial future back on track.