Our law firm is investigating Allstate Financial Services ("Allstate") in connection with the superv

Our law firm is investigating Allstate Financial Services (“Allstate”) comparison of rental car costs while inhawaii in connection with the supervision of Kenneth Brownlee (“Brownlee”), CRD No. 4534181, and allegations of selling away. On October 30, 2014, FINRA filed a Complaint comparison of rental car costs while inhawaii against Brownlee alleging that he sold four customers interests comparison of rental car costs while inhawaii in limited liability corporations created by City Capital Corporation (“CCC”), which were not approved for sale by Allstate.  Selling a customer an investment that is not approved by the brokerage firm where the representative is registered is conduct known as “selling away”. FINRA alleged that the customers invested a total of $290,669 in CCC between October 2009 and June 2010.
CCC was a company that purported to offer investors the opportunity to invest in so-called “sweepstakes machines.”  CCC’s chief executive officer was Ephren Taylor, who in 2012, along with CCC, was charged by the U.S. Securities and Exchange Commission with fraud for enticing investors to roll over retirement portfolios to self-directed IRA custodial accounts and invest those funds in “sweepstakes machines” through CCC.
According to FINRA’s BrokerCheck, during the time period at issue, Brownlee was registered with Allstate. Under FINRA Rules, Allstate was obligated to properly supervise the activities of Brownlee during the time he was registered comparison of rental car costs while inhawaii with the firm. Accordingly, Allstate may be liable for failing to supervise Brownlee’s activities while registered at the firm.
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