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John McGinnis: Complaint for Selling Away

John McGinnisFormer California-based RBC broker John McGinnis is currently not licensed to act as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. McGinnis (CRD# 1134105).

John McGinnis has spent 32 years in the securities industry and was most recently registered with RBC Capital Markets in Escondido, California (2008-2015). Previous registrations include Merrill Lynch in Escondido, California (1988-2008); EF Hutton & Company (1983-1988); and Merrill Lynch (1987-1988). He is currently not registered with any state or firm.

According to his BrokerCheck report, John McGinnis is the subject of one complaint and three pending customer complaints.

  • In February 2016 a customer alleged John McGinnis, while employed at RBC Capital Markets, executed unauthorized transactions in unsuitable private placements. The customer is seeking $900,000 in damages in the pending complaint.
  • In February 2016 a customer alleged John McGinnis, while employed at RBC Capital Markets, “encouraged her to withdraw money to invest in outside investments” for which she has neither been repaid nor seen any earnings. The customer is seeking $432,500 in damages in the pending complaint.
  • In January 2016 a customer alleged John McGinnis, while employed at RBC Capital Markets, engaged in selling away with respect to two unsuitable private placements. The customer is seeking $200,000 in damages in the pending complaint.
  • In 2008 a customer alleged John McGinnis, while employed at Merrill Lynch, misrepresented material facts related to an investment. The complaint settled in 2009 for $27,700.

If you have complaints regarding John McGinnis, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recover lost funds. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.

This information made public by FINRA on March 22, 2016.