Ralph Savoie, former advisor for ING Financial Partners and Cambridge Investment Research Advisors, has been sued by multiple customers relating to his sales of the Green Cooling Tower Investment Fund. In addition, Ralph Savoie has been banned from the securities industry after failing to provide documents and information relating to a FINRA investigation into his alleged misconduct.
According to the Letter of Acceptance, Waiver and Consent (“AWC”) Savoie entered into with FINRA, there were allegations that Savoie “misappropriated more than $665,000 from at least one firm customer.” During the course of the FINRA investigation into these allegations, Savoie refused to provide documents and information requested by FINRA. Instead, Savoie chose to consent to a permanent ban from associating with any FINRA member firm “in any and all capacities,” according to the AWC.
Savoie worked for several different FINRA member firms since 1970, but he was most recently a registered representative with Cambridge Investment Research Advisors, Inc. from July 2013 through August 2015. He also worked for ING Financial Partners, Inc. of Baton Rouge from March 2007 until July 2013, according to his FINRA BrokerCheck report.
Fishman Haygood represents investors who have suffered investment losses in claims against their brokers or financial advisors. Our experienced attorneys have brought securities fraud cases in state and federal courts across the nation, as well as in FINRA arbitration. We work to help investors recoup their losses.
Of course, all cases are different. For that reason, we analyze each client’s matter individually and provide our personalized evaluation only after considering all of the facts and circumstances of all possible claims. If you or someone you know is the victim of securities fraud, please contact a Fishman Haygood lawyer today.