Todd Esh, previously with LPL Financial, Subject of SEC Complaint in Missouri
Have you lost money with financial advisor Todd Esh? We are looking into allegations made about Todd A. Esh from Shawnee, Kansas. The Securities and Exchange Commission (SEC) brought a complaint against Esh and Phillip Hudnall, alleging that they raised money for companies called BirdDog Business Group and BirdDog Oil Equipment.
BirdDog Oil was allegedly involved in oil and gas equipment. Hudnall and Esh were alleged to have raised $3.6 million through promissory notes. The SEC further alleges that Hudnall misappropriated most of the investor funds.
Todd Esh was a financial advisor and registered representative of LPL Financial from March 2018 to July 2019. He worked at a branch office in Shawnee, Kansas. Esh also operated Good Life Advisors in Shawnee.
Brokerage firms like 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 Denver, Colorado; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including Kansas and Missouri. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against LPL Financial.