GLASTONBURY, CT
Have you lost money with financial advisor Matthew O. Clason from Glastonbury, Connecticut? We are continuing to look into allegations made against Matthew Clason. Clason recently pleaded guilty to defrauding investors, according to MyRecordJournal. Clason stole over $600,000 from an elderly customer’s account.
In 2020, Clason was barred from the securities industry by FINRA (the Financial Industry Regulatory Authority) Clason was barred from the securities industry by FINRA after he failed to respond to an investigation that he stole or converted funds from a customer.
Early in September 2020, the Securities and Exchange Commission (SEC) filed fraud charges against Matthew Clason. The SEC alleged that Clason misappropriated or stole over $300,000 from customers between December 2018 and 2020. The SEC also alleged that Matthew Clason made unauthorized transfers from customer accounts to accomplish this fraud.
Matthew Clason was a registered representative and financial advisor with LPL Financial from October 2016 to August 2020. He was also with Integrated Wealth Concepts from May 2018 to August 2020. He worked out of a branch office in Glastonbury, Connecticut.
Broker-dealers like LPL Financial have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives. Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations. When broker-dealers 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 Denver, Colorado; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan. 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.