Ex-LPL Broker Accused of Using Fake African Charity to Steal $500k
New Hampshire securities regulators are seeking an injunction and asset freeze against a former LPL Financial broker who was fired earlier this year. The former LPL broker is accused of soliciting more than $500,000 from clients to invest in what is believed to be a fake African charity. Among other things, the broker allegedly represented pop music star Taylor Swift and Microsoft founder Bill Gates were personally involved in the charity and that investors would see returns of 20 percent.
New Hampshire regulators suspended Mr. Stokes’ license on August 2019 and LPL then fired Stokes. According to reports, regulators have found no evidence to support Mr. Stokes’ claims that the African charity exists.
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