James Thomas Booth, formerly with Invest Financial Corp. and LPL Financial, Pleads Guilty to Securities Fraud

Have you lost money with financial advisor James Thomas Booth of Norwalk, Connecticut? We are continuing our investigation into allegations made by the Securities and Exchange Commission (SEC) and FINRA (the Financial Industry Regulatory Authority). James Booth recently pleaded guilty to securities fraud, according to the Department of Justice. It was alleged that he stole over $5 million from 40 clients.

Earlier this month, the SEC alleged that Booth ran a Ponzi scheme, defrauding over 40 investors. He told clients he would invest their money but pocketed it instead. Booth was also the subject of an action by FINRA, the Financial Industry Regulatory Authority in July 2019. FINRA barred Booth from the securities industry.

James Thomas Booth was a financial advisor and registered representative of Invest Financial Corp. from 2005 to February 2018. He was also affiliated with LPL Financial from February 2018 to June 2019. He worked at branch offices in Norwalk, Connecticut. Booth has been the subject of multiple customer complaints.

Brokerage firms like Invest Financial Corp. and LPL Financial have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Phoenix, Arizona; Denver, Colorado; Ann Arbor, Michigan; Portland, Oregon and Seattle, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Connecticut. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against LPL Financial.

Click to view: Booth, James SEC Complaint

Click to view: Booth, James FINRA AWC

Click to view: Booth, James BrokerCheck 7.2.19