SEC指控LPL金融经纪人Eric Hollifield向零售客户挪用170万美元

Ex-Windsor, Georgia Investment Adviser Was Fired by Hamilton Investment Counsel and LPL

TheUS Securities and Exchange Commission(SEC) has filed civil charges against Eric Shea Hollifield, a former LPL Financial broker and registered investment adviser with Hamilton Investment Counsel, LLC in Georgia. The regulator contends that he allegedly misappropriated at least $1.7M from one brokerage investor and two investment advisory clients. He then used their money to pay for his personal expenses, including a 37-acre property with a house.

According to the SEC, Hollifield allegedly moved customers’ funds without permission to an outside business controlled by him. On top of that, he sent some of those funds to his account. Allegedly, Hollifield sold securities in the brokerage client’s account and suggested that the customer move $1.24M to a different financial institution to earn more interest. After gaining the client’s consent, he transferred the money to a real estate closing agent to buy his house. Due to this, the Commission is seeking permanent injunctions and monetary relief.

The regulator also settled administrative and cease-and-desist proceedings with Hamilton Investment Counsel, which Hollifield co-owns with Jeffrey Kirkpatrick. The SEC accuses the firm of inadequately addressing “red flags” involving Hollifield’s outside business activities. The Georgia-based investment advisory fired him in September 2021 for allegedly failing to disclose these activities. In August 2021, LPL Financial allegedly fired Hollifield for the same reason.

Other Disclosures onEric Hollifield’s CRD:

10/2021:FINRA拒绝在自我监管组织的调查中提供有关他是否已转换了老年投资者的资金的调查后，永久禁止了Hollifield。

9/2021：Georgia’s Securities Division also permanently barred him after allegedly authorized a $1.24M transfer of client’s funds from their brokerage account without permission. A $500K sanction was imposed.

8/2021:The customer filed a $1.24M Financial Industry Regulatory Authority (FINRA) arbitration claim to recover damages.

During his 23 years in the industry, Hollifield has been registered with Sterne Agee Financial Services, H & R Block Financial Advisors, Merrill Lynch, Pierce, Fenner & Smith, Sterne Agee Investment Services, and Sterne Agee Asset Management.

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