Published on:

Sylvester King: Received Multiple Regulatory Sanctions and Customer Complaints

Sylvester KingPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on October 22, 2016 indicate that former Florida-based Wells Fargo broker Sylvester King is currently not affiliated with any broker-dealer firm. The securities and investment fraud law firm Fitapelli Kurta is investigating allegations of misconduct against Mr. King (CRD# 4011622).

Sylvester King has spent fifteen years in the securities industry and was most recently registered with Wells Fargo Advisors in Fort Lauderdale, Florida (2011-2015). Previous registrations include Morgan Stanley Smith Barney in Fort Lauderdale, Florida; Citigroup Global Markets in Fort Lauderdale, Florida; and Banc of America Investment Services in Fort Lauderdale, Florida. He is currently not registered with any state or firm.

According to his BrokerCheck report, Sylvester King has received three regulatory sanctions, three customer complaints, and three pending customer complaints.

In July 2016 a customer alleged Sylvester King, while employed at Morgan Stanley, solicited outside investments that were unauthorized by the firm. The customer is seeking more than $7,818,000 in damages in the pending complaint.

In July 2015 FINRA sanctioned Sylvester King following allegations he failed to pay fines and costs associated with a previous FINRA action. His FINRA registration was subsequently revoked.

In April 2015 FINRA sanctioned Sylvester King following allegations he “circumvented one of his member firm’s policies and procedures by assisting another registered representative in concealing approximately $399,500 in loans to customers of the firm.” He was issued an 18-month suspension and a fine of $35,000.

In 2015 a customer alleged Sylvester King, while employed at Morgan Stanley, recommended an investment that was not authorized by the firm. The complaint settled for $1,100,000.

In 2015 a customer alleged Sylvester King, while employed at Morgan Stanley, acted negligently, breached contract, breached his fiduciary duty, misrepresented material facts, and committed fraud. In 2016 complaint resulted in an award to the customer of more than $209,900.

In 2015 a customer alleged Sylvester King, while employed at Morgan Stanley, acted negligently, breached contract, breached his fiduciary duty, misrepresented material facts, and committed fraud. In 2016 complaint resulted in an award to the customer of more than $614,900.

If you have lost money investing with Sylvester King, you may be able to recover your losses. 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 collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.