Ex-Edward Jones Brokers Investigated for Marketing “GIBRALTAR PARTNERS” Alleged Ponzi

The FBI is reportedly investigating two former Edward Jones brokers based in South Dakota for their role in a “selling-away” case that involved raising money from clients who invested in an alleged Ponzi scheme.

A clientof Edward Jones, one of the largest brokerage firms in the country with more than 12,000 brokers, reportedly brought the matter of Gibraltar Partners Inc. to the firm’s attention in March. As a result of its investigation, during which the company learned that the Justice Department was in the middle of a criminal investigation of Gibraltar Partners, Edward Jones reportedly fired the brokers.

“Selling away” is one of the most common difficulties independent and franchisee broker-dealers face in their oversight of registered reps. Such reps typically operate in one- or two-man offices and have no branch manager looking over their shoulders on a day-to-day basis. Cases typically involve a broker selling a financial product that the broker-dealer did not approve or know about, with the investment vehicle blowing up and harming the client’s portfolio.

Investors who believe they may have been a victim of “selling away” with respect to Gibraltar Partners or otherwise MAY contact the Law Office of Christopher J. Gray, P.C. for a confidential, no-cost consultation.