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Broker David Newman Has Received Four Tax Liens

David NewmanPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on October 31, 2016 indicate that former Oklahoma-based First Western Securities broker David Newman is currently not affiliated with any broker-dealer firm. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Newman (CRD# 1407201).

David Newman has spent thirty years in the securities industry and was most recently registered with First Western Securities in Duncan, Oklahoma (2008-2016). Previous registrations include Raymond James Financial Services in Duncan, Oklahoma (1992-2008) and AG Edwards & Sons in St. Louis, Missouri (1985-1992). He is currently not registered with any state or firm.

According to his BrokerCheck report, David Newman has received two regulatory sanctions and four tax liens.

In August 2016 the Oklahoma Department of Securities sanctioned David Newman following allegations he “engaged in dishonest and unethical practices in the securities industry, violated FINRA rules in Oklahoma, and recommended the purchase of promissory notes that were unsuitable for customers.” He was issued a permanent bar.

In May 2016 FINRA sanctioned David Newman following allegations he “participated in undisclosed private securities transactions by introducing his customers to an outside investment that turned out to be part of a fraudulent scheme perpetrated by another individual” without notifying or receiving approval from his member firm, First Western Securities, and allegedly “falsely certified” to his member firm hat he had not engaged in private securities transactions. He was issued a 15-month suspension and a $15,000 fine, and was ordered to pay disgorgement totaling $89,500.

In 2006 the Internal Revenue Service filed a tax lien totaling $6,826 against David Newman. The lien remains outstanding.

In 2006 the Internal Revenue Service filed a tax lien totaling $594 against David Newman. The lien remains outstanding.

In 2004 the Internal Revenue Service filed a tax lien totaling $999,000 against David Newman. The lien remains outstanding.

In 2005 the Internal Revenue Service filed a tax lien totaling $999,000 against David Newman. The lien remains outstanding.

If you or someone you know has lost money investing with David Newman, 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: Fitapelli Kurta only gets paid if and when you collect money. 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.