Century Securities Associates Broker Bernard McLaughlin Jr. Under Investigation After Declaring Bankruptcy

Silver Law Group is investigating Minnesota-based Century Securities Associates, Inc. broker Bernard McLaughlin Jr. (CRD# 601178) after he declared bankruptcy.

According to McLaughlin’s FINRA BrokerCheck report, McLaughlin declared bankruptcy in August 2017. McLaughlin’s debts incurred in the bankruptcy were discharged in November 2017.

A bankruptcy disclosure indicates that the broker may have financially struggled leading up to the bankruptcy. This financial distress can sometimes lead brokers to recommend unsuitable, risky products with high commissions and fees or engage in other securities misconduct such as excessively trading (churning) customers’ accounts in order to generate higher commissions.

In addition to McLaughlin’s bankruptcy, McLaughlin was suspended by the State of Minnesota in 1976 for undisclosed reasons. Additionally, a customer filed a $1.1 million FINRA arbitration against McLaughlin in April 2018 alleging unsuitable recommendations to invest in an energy company between 2012 through 2015.

In McLaughlin’s 49-year career, he has been employed by 14 different brokerage firms. Century Securities Associates has employed McLaughlin since 2001 at its Golden Valley, Minnesota branch.

Contact Our Firm if You’ve Lost Money Investing with Bernard McLaughlin and Century Securities Associates

If you’ve lost money investing with Bernard McLaughlin and Century Securities Associates, we may be able to help you recover your losses. Contact our firm today to learn how we can try to recover your losses. We work on a contingency fee, meaning if we don’t recover money you owe us nothing. Our lawyers have extensive experience in claims against banks, accountants and financial advisors for securities and investment misconduct.

Silver Law Group represents the interests of investors who have been the victims of investment fraud.  Scott Silver is the chairman of the Securities and Financial Fraud Group of the American Association of Justice and represents investors nationwide in securities investment fraud cases. Please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.