Articles Tagged with Patrick Maddren

shutterstock_71403175-300x225The security fraud attorneys at Gana Weinstein LLP are currently investigating Westpark Capital, Inc. (Westpark Capital) broker Patrick Maddren (Maddren). According to BrokerCheck records, Maddren has been subject to two customer disputes involving various forms of security fraud.

In March 2016, a customer alleged that Maddren engaged in a wide range of security fraud, including false representations, excessive trading, unauthorized trading, unsuitable recommendations, and breach of contract. The dispute was settled for $295,000.

In May 2012, a customer alleged that in February 2012, Maddren executed unauthorized trades in the account. The customer requested $62,530 in damages.

In addition, Maddren has been subject to two tax liens. In June 2012, Maddren incurred a tax lien of $75,630. In June 2012, Maddren incurred a tax lien of $225,256.80.   Continue Reading

shutterstock_20354401-300x200According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Patrick Maddren (Maddren) has been subject to two customer complaints and two tax liens.  Maddren is currently registered with WestPark Capital, Inc. (WestPark Capital).  In March 2016 a customer filed a complaint alleging a number of securities law violations including that the broker engaged in churning (excessive trading), material misrepresentations and omissions, unauthorized trading, unsuitable recommendations, and breach of contract among other claims.  The claim alleged $1,000,000 in damages and is now settled.

In 2012 several tax liens were filed against Maddren in amounts totaling over $300,000.  Large tax liens on a broker’s CRD can be a red flag that the broker may be influenced to engage in high commission activity in order to satisfy personal debts.  In addition, a broker’s inability to manage their own finances is relevant in a customer’s decision to use their services.

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