Thomas Laws of Silver City, New Mexico charged by the SEC and Barred by FINRA
Thomas Laws, a registered representative from Silver City, New Mexico, formerly with HD Vest Investment Services, was barred from FINRA membership as a result of an SEC investigation into alleged misconduct in his handling of investor funds. The Commission alleged that from 2016 through 2018, a business Laws controlled transferred over one million dollars of investors’ funds to purchase a silver mine, acquire mining claims, purchase mining equipment, and for other corporate related activity. The complaint alleges that instead of using the funds for corporate purposes, Laws misappropriated them and attempted to hide the theft by forging vendor invoices, bank records and signatures.
Laws then filed and certified periodic reports with the SEC, which the Commission alleges were materially false and misleading. As a result of this conduct Laws was arrested by the FBI at his office in New Mexico in August, 2019 and charged with three felonies related to the alleged theft.
Laws has plead not guilty the charges of wire fraud, transfer of stolen money and identity theft. At the time of his arrest, Laws was already barred by FINRA. In July, Laws declared bankruptcy.
Among the businesses Laws disclosed to his employer HD Vest were Manhattan Apartments Partnership, Outlaw Hideaway Ranch and XYZ Ranch Estates, all of Silver City, New Mexico.
Thomas Laws’ registration and disciplinary history
In order to lawfully sell investments to the public, one must either be registered or exempt from registration.
Thomas Laws was registered with HD Vest Investment Services from November, 2006 though November, 2017. According to FINRA’s CRD disclosure report, Laws has been the subject of three regulatory investigations and one criminal complaint.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 24 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via unlawful and unsuitable investment transactions. During that time, we have recovered money for over one thousand individuals, pension plans, trusts, and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.
If you suspect that you have been the victim of investment fraud, or had a financial advisor recommend unsuitable investments to you, call us today for a free, confidential consultation at (702) 380-3131.