Stockbroker Randy Burke Barred by FINRA

Randy Burke

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on February 23rd, 2016, former North Carolina-based Calton & Associates broker Randy Burke has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Burke (CRD# 2702441).

Randy Burke has spent 19 years in the securities industry and was most recently registered with Calton & Associates in Hickory, North Carolina (2013-2015). Previous registrations include Capital Investment Group in Hickory (2011-2013); Synergy Investment Group in Ferguson, North Carolina (2002-2011); and Pruco Securities in Newark, New Jersey (1996-2001). He is currently not registered with any state or firm.

According to his BrokerCheck report, Randy Burke is the subject of one regulatory sanction, one customer complaint, one pending customer complaint, three judgements or liens, and one pending bankruptcy filing.

In October 2015 FINRA barred Randy Burke following allegations he participated in private securities transactions without providing prior written notice to his member firms, Synergy Investment Group and Capital Investment Services. According to FINRA’s complaint, Mr. Burke made material misrepresentations to an elderly customer who invested in his private securities, in violation of the Securities Exchange Act of 1934. He allegedly falsely represented to the customer that she would be entitled to share in the profits of the future sale of a lodge property in Alaska. FINRA additionally alleged that Mr. Burke deposited $38,000 of the client’s investment funds into a “business checking account that he held jointly with his wife that was used for business and personal banking.” Mr. Burke was permanently barred from the securities industry.

In 2015 a customer alleged Randy Burke, while employed at Synergy Investment Group and Capital Investment Services, fraudulently used funds invested in a false entity, “Lodge Alaska, LLC,” for personal use. The customer is seeking $88,407 in damages in the pending complaint.

In January 2015 Randy Burke filed for Chapter 11 bankruptcy in Statesville, North Carolina. The action remains pending.

In 2006 a customer alleged Randy Burke, while employed at Synergy Investment Group, misrepresented material facts and unsuitable recommendations. The complaint settled in 2007 for $264,577.

If you or someone you know has suffered losses investing with Randy Burke, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recoup losses. Fitapelli Kurta accepts every case on contingency: we only receive payment if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.