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Peter Fenton (Detwiler Fenton Broker) Complaint

Peter FentonThe securities and investment fraud law firm, Fitapelli Kurta, is interested in hearing from investors who have complaints regarding Boston and Tennessee-based Detwiler Fenton & Company broker Peter Fenton (CRD# 2334505).

Peter Fenton has spent twenty-two years in the securities industry and has been registered with Detwiler Fenton & Company in Boston, Massachusetts and Franklin, Tennessee since 1993. He was previously registered with Detwiler Fenton Wealth Management in Boston, Massachusetts (2011-2015). He is a registered broker in Massachusetts.

According to his BrokerCheck report, Peter Fenton is the subject of one pending customer complaint.

In 2013 a customer alleged Peter Fenton, while employed at Detwiler Fenton & Company, was involved in a Ponzi scheme, churned a customer’s account, executed unauthorized trades, breached his fiduciary duty, violated securities law, violated FINRA rules of fair practice, and failed to supervise. The customer is seeking $300,000 in damages in the pending complaint.

Mr. Fenton’s employer, Detwiler Fenton & Company, is itself the subject of six regulatory sanctions and seven customer complaints that evolved into arbitration, according to the firm’s BrokerCheck report.

In 2014 a customer alleged Detwiler Fenton & Company breached its fiduciary duty, misrepresented material facts, made unsuitable investment recommendations, breached contract, failed to supervise its representatives, and acted negligently. The complaint resulted in an award to the customer of more than $952,500.

In 2007 the Securities and Exchange Commission (SEC) sanctioned Detwiler Fenton & Company following allegations the firm failed to reasonably supervise a representative “with a few to preventing and detecting his violations of federal securities law.” According to the SEC, the individual in question “defrauded approximately 25… customers by lying about purchases and sales of securities, misappropriating funds, and sending them falsified statements relating to their investment advisory accounts with his independent advisory firm.” Detwiler Fenton & Company was censured and fined $250,000.

In 1999 a customer alleged Detwiler Fenton & Company breached its fiduciary duty, misrepresented material facts, made unsuitable investment recommendations, and failed to supervise its representatives. The complaint resulted in an award to the customer of more than $266,800.

If you have lost money investing with Peter Fenton or Detwiler Fenton & Company, you may be entitled to recover lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you recover money. By law you may have a limited time to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.