The law offices of Gana Weinstein LLP are currently investigating claims that Broker Darien Bonney (Bonney) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Bonney was employed by MML Investors Services, LLC at the time of the activity. If you have been a victim of Bonney’s alleged misconduct our firm may be able to assist you in recovering funds.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $325,000.00 on July 26, 2023.
The Claimants allege that in 2021, rep sold them two promissory notes that offered guaranteed returns, which would be protected, and that wouldn’t be subject to stock market volatility, however, their full investments haven’t been returned and only a portion of the interest was paid.
We specialize in representing victims of fraud when financial advisors take loans from clients or facilitate securities transactions through OBAs. The practice of selling unapproved investments, promoting fraudulent schemes to hide misused funds, and engaging in other deceptive acts is known in the industry as “selling away,” a major infraction of securities laws. In the industry, “selling away” describes a financial advisor soliciting investments in companies, promissory notes, or other securities that lack prior approval from their affiliated brokerage firm. Although certain investments may have some validity, they frequently devolve into Ponzi schemes or involve advisors unlawfully diverting funds.
However, federal securities laws and the FINRA rules require firms to monitor and supervise its employees in order to detect and prevent brokers from offering investments in this fashion. To adequately supervise their brokers, firms must implement systems that track advisors’ activities and communications with the public. Selling away misconduct often occurs where brokerage firms either fail to put in place a reasonable supervisory system or fail to actually implement that system. Supervisory failures allow brokers to engage in unsupervised misconduct that can include all manner improper conduct including selling away.
In cases of selling away the investor is unaware that the advisor’s investments are improper. In many of these cases the investor will not learn that the broker’s activities were wrongful until after the investment scheme is publicized, the broker is fired or charged by law enforcement, or stops returning client calls altogether.
Bonney has been in the securities industry for more than 16 years. Bonney has been registered as a Broker with MML Investors Services, LLC since 2007.
Investors who have suffered losses are encouraged to contact us at (800) 810-4262 for consultation. At Gana Weinstein LLP, our attorneys are experienced representing investors who have suffered securities losses due to the mishandling of their accounts. Claims may be brought in securities arbitration before FINRA. Our consultations are free of charge and the firm is only compensated if you recover.