Tr?id=566623520170033&ev=PageView&noscript=1

ÍøÆØ³Ô¹Ï

Pennsylvania Financial Advisor Terminated Following Lawsuit

Posted on September 6th, 2023 at 3:42 PM
Pennsylvania Financial Advisor Terminated Following Lawsuit

From the desk of Jim Eccleston at ÍøÆØ³Ô¹Ï 

LPL Financial has terminated John A. Dougherty following his being sued for allegedly over-leveraging an investor's account using a $5 million securities-based loan and assisting him in an external investment.

Dougherty has been with LPL since January 2021. The investor, an oil refinery entrepreneur from Beaufort County, South Carolina, alleged in the lawsuit that Dougherty convinced him to invest $300,000 in Jamaica Cures, LLC, a medical marijuana grower based in Jamaica. According to the lawsuit, and as reported by AdvisorHub, Dougherty misrepresented to him that he had personally invested in and served on the board of Jamaica Cures.

Dougherty no longer is registered as a broker or investment advisor. He has denied any wrongdoing, expressing on BrokerCheck that he prioritized the customer's interest and is committed to defending this matter within the bounds of the law.

 

ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

I want to extend a tremendous thank you for your dedication, professionalism, hard work and patient demeanor through this challenging time. It was enjoyable interacting with everyone on your team, this certainly helped while dealing with the situation and working towards resolution.

Dan M.

LATEST NEWS AND ARTICLES

1783615970 Law
July 9, 2026
FINRA Suspends Former Branch Manager for Supervisory Failures Linked to Excessive Trading and Churning

A former regional branch manager at a broker-dealer has agreed to Financial Industry Regulatory Authority (FINRA) sanctions after the regulator found that he failed to supervise registered representatives who engaged in excessive trading and churning of customer accounts.

1783525964 Law
July 8, 2026
SEC Sanctions David Lerner Associates for Regulation Best Interest Violations

David Lerner Associates has agreed to settle Securities and Exchange (SEC) charges alleging violations of Regulation Best Interest (Reg BI) that resulted in unnecessary costs to retail investors, according to InvestmentNews.

1783434190 Law
July 7, 2026
Private Credit Funds Face Mounting Redemption Pressure as Investor Sentiment Shifts

A surge in investor redemption requests has intensified pressure on private credit funds, raising concerns about liquidity and long-term stability across the asset class, as reported by The Wall Street Journal.