Securities Fraud Lawyer Blog
John Heath Investigation
The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities related conduct of John Heath, a registered representative formerly doing business out of Independent Financial Group’s Bloomington, MN office.
The pending customer dispute that gave rise to the investigation concerns the Minnesota Department of Commerce’s complaints against John Heath and Paul Bardine. The complaint against John Heath alleges that beginning in the Fall of 2015 Heath improperly redeemed an annuity for an eighty eight year old client by posing as the man in communications with the insurance company.
Once Heath secured the funds he opened a bank account in the victim’s name using a fraudulent power of attorney, and then drained the account via ATM withdrawals. The complaint further alleges that Heath used the funds to pay his own bills and for personal expenses.
Independent Financial Group discharged Heath in March, 2016 and listed the reason as “Registrant (Heath) admitted to wrongful taking of funds.”
John Heath’s registration and disciplinary history
In order to lawfully sell investments to the public, one must either be registered or exempt from registration. FINRA maintains a database that the public can access to check the credentials of their financial advisors. The website, also known as broker check has a listing for John Heath, who has been registered with:
Broker check reports that Heath has been the subject of an investigation, a regulatory action, and a discharge from employment.
Independent Financial Group is also listed in broker check. The firm is a Delaware corporation formed in 2001. They are registered with the SEC, FINRA, and in 53 states and territories. The firm discloses it has been the subject of five regulatory actions and one arbitration.
If you are the victim of investment fraud, or have had your account mishandled by a financial advisor please call The Law Office of David Liebrader at (702) 380-3131 for a free, confidential consultation to discuss your legal rights and options. Our firm takes cases on a straight contingency fee, with no money up front, and no money owed unless there is a recovery.
There is no charge for the initial consultation, so call (702) 380-3131 today to speak with an experienced securities attorney who will fight to recover your losses.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent 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.