Investor Lawyers Blog
Investors who believe they were defrauded or had they accounts mishandled by Anthony Liddle of Wausau, Wisconsin, may have legal claims, including possible claims for unsuitable recommendations or for misrepresentations, if the nature of the investments recommended by Liddle was misrepresented or if Liddle solicited money under false pretenses.
In January, 2023, the Securities and Exchange Commission (“SEC”) charged Liddle with allegedly defrauding at least 13 investment advisory clients of approximately $1.9 million. The SEC’s complaint alleges that Liddle, while acting as an investment advisor, made misrepresentations to clients, many of whom were seniors. Liddle purportedly directed some investment advisory clients to send money directly to his investment advisory company, where Liddle allegedly misappropriated client funds and never invested the money on his clients’ behalf. The SEC’s complaint is accessible here. LiddleSECComplaint
Earlier, in June 2022, the Financial Industry Regulatory Authority (FINRA) barred Liddle (CRD#: 5478479) from associating with any FINRA member at any time after Liddle reportedly refused to provided information in its investigation to reports that Liddle allegedly borrowed more than $1.8 million from at least 13 of his customers while he was associated with his member firm, according to FINRA. The FINRA bar is accessible here. LiddleAWC
According to his broker report, Liddle was reportedly affiliated with Landolt Securities in Oshkosh, Wisconsin from April, 2020 to May, 2022, and previously was a representative of Western International Securities from 2012 until April 2020.
The SEC says that between at least June 2019 and May 2022, Liddle lied to investment clients by claiming their portfolios had become less safe in the wake of COVID-19’s impact on the market. Liddle then advised these clients to sell some securities to reinvest the proceeds, but after selling the securities, Liddle placed the proceeds in a bank account that he used for personal expenses. Liddle is accused of violating federal statutes including the Securities Act, the Securities Exchange Act and the Investment Advisers Act.
The State of Wisconsin Division of Securities also barred Liddle, after charging him with deceiving these same 13 investors, from whom Liddle allegedly collected a total of over $1.8 million under false pretenses. Ten of these thirteen victims were senior citizens over the age of 65. Liddle did not contest these charges but instead waived his right to a hearing and agreed to being barred from the securities industry. Documents summarizing the State of Wisconsin charges are accessible here. liddle barred
Investors who lose money as a result of stockbroker or investment advisor fraud may be able to recover fund through a process known as arbitration. Investors who wish to discuss a possible claim may contact a securities arbitration lawyer at Law Office of Christopher J. Gray, P.C. at (866) 966-9598 or via email at newcases@investorlawyers.net for a no-cost, confidential consultation. Attorneys at the firm are admitted in New York, Wisconsin and various federal courts around the country, and handle cases nationwide (in cooperation with attorneys located in those states if required by applicable rules).