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Daniel McCourt Named in FINRA Investigation

Daniel McCourtThe securities and investment fraud law firm Fitapelli Kurta is investigating allegations of misconduct against former California-based Foothill Securities broker Daniel McCourt (CRD# 1336258).

Daniel McCourt has spent 27 years in the securities industry and was most recently registered with Foothill Securities in Aptos, California (1985-2013). Previous registrations include Coast County Securities (1985) and ATC Investment Group (1985). He is currently not registered with any state or firm.

According to his BrokerCheck report, Daniel McCourt is the subject of three customer complaints, one pending customer complaint, one regulatory investigation, and one pending regulatory sanction.

In 2015 Daniel McCourt was named respondent in a Financial Industry Regulatory Authority (FINRA) complaint following allegations he engaged in private securities transactions outside his member firm. Although Mr. McCourt’s member firm, Foothill Securities, had approved his outside business activity, he allegedly failed to provide notice of the proposed investments in such, and ultimately raised more than $1,294,600 in the issuance of long-term promissory notes. According to FINRA’s complaint, Mr. McCourt additionally “provided false information and falsified documents to a mortgage company on behalf of one of his clients” to help that client qualify for a home loan. FINRA is seeking sanctions including censure, suspension, and expulsion from the securities industry in the pending complaint.

In 2015 Daniel McCourt was named in a pending FINRA investigation into the foregoing allegations, that he engaged in private securities transactions without providing prior written notice and provided a mortgage company with falsified documents on behalf of a client.

In 2015 a customer alleged Daniel McCourt, while employed at Foothill Securities, violated FINRA rules, breached his fiduciary duty, acted negligently, and converted funds when he solicited three loans, two of which were personal and one of which was for his outside business activity. The customer is seeking $220,634 in the pending complaint.

In 2014 a customer alleged Daniel McCourt, while employed at Foothill Securities, misrepresented material facts related to investments and churned her account. The complaint settled for $24,000.

In 2013 a customer alleged Daniel McCourt, while employed at Foothill Securities, used misleading and untrue claims in the sale of an illiquid Desert Capital real estate investment trust (REIT) that proved unsuitable to their investment objectives. The complaint settled in 2014 for $18,000.

In 2012 a customer alleged Daniel McCourt, while employed at Foothill Securities, recommended unsuitable REITs, breached his fiduciary duty, and committed elder abuse. The complaint settled for $155,000.

If you or someone you know has lost money investing with Daniel McCourt, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: you will only pay Fitapelli Kurta if and when you collect money. Time to file your claim may be limited, so we encourgae you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.