Seattle Stockbroker Suspended for Secretly Pushing Clients into Risky Pre-IPO Investments

Benjamin Doyle Maleche of LPL Financial was recently fined and suspended for failing to tell his member firm—JP Morgan at the time—that he was recommending his clients buy into a risky pre-IPO investment fund. This fund, which bought and sold shares of companies that were in the early stages of going public, was not approved by JP Morgan, nor did Mr. Maleche inform JP Morgan that he was recommending this high-risk investment. If you lost money on a high risk investment and your stockbroker failed to disclose all of the significant risks, you may be able to recover your losses through arbitration. Contact the attorneys at Investor Defense Law LLP at no charge to find out whether you have a valid claim.

Investor Defense Law LLP is a law firm dedicated to helping investors in California, Georgia, and Washington recover losses caused by stockbrokers, financial advisers, or investment firms. To learn more, contact an investment fraud attorney at 800.487.4660.