Hanley Law Investigates Pennsylvania broker Austin Dutton Formerly Registered with Newbridge Securities and Associated with Bridge Valley Financial Services

According to FINRA’s Brokercheck, Austin Dutton was registered with Newbridge Securities from August 2007 to August 2017.  In July 2017, the Pennsylvania Department of Banking and Securities fined Austin Dutton $200,000 for dishonest or unethical practices in the securities business.   Furthermore, in July 2017 the state of Pennsylvania fined Newbridge Securities $499,000 for failing to supervise a broker with sales of structured products to clients within the state.

According to Investment News, Mr. Dutton was well known in the Philadelphia area as a leading seller of REITs managed by American Realty Capital.  American Realty Capital is a real estate investment company controlled by Nicholas Schorsch.  Hanley Law is investigating whether clients may have also bought REITs sponsored by United Development Funding.  United Development Funding had its offices raided by the FBI two years ago after a hedge fund alleged it was operating like a Ponzi scheme.  Austin Dutton was affiliated with Bridge Valley Financial Services.

Dutton entered the securities industry in 1996.  He was registered with seven firms, including Newbridge Securities Corporation which he joined in August 2007.  According to FINRA’s Brokercheck, Austin Dutton was registered with the securities industry for 21 years, and was registered with the following firm(s):

Sandlapper Securities, LLC
CRD# 137906
Greenville, SC
09/2017-Present

Center Street Securities, Inc.
CRD# 26898
Nashville, TN
07/2017- Present

Newbridge Securities Corporation
CRD# 104065
Furlong, PA
08/2007-07/2017

Boenning & Scattergood, Inc.
CRD# 100
Langhorne, PA
01/2002-08/2007

Ferris, Baker Watts Incorporated
CRD# 285
Baltimore, MD
06/2000-01/2002

A.G. Edwards & Sons, Inc.
CRD# 4
St. Louis, MO
12/1997-07/2000

Prudential Securities Incorporated
CRD# 7471
New York, NY
06/1996-11/1997

HANLEY LAW

Hanley law represents individual investors nationwide with significant losses in their portfolios, retirement plans or investment accounts.  Hanley Law is dedicated to assisting investors to recover losses suffered by unsuitability, over-concentration, fraud, misrepresentation, self-dealing, unauthorized trades or other wrongful acts, whether intentional or negligent.  Hanley Law represents clients nationwide in cases against the major Wall Street broker dealers, including Newbridge Securities Corporation.

If you have suffered investment losses as a result of your broker’s or brokerage firm’s misconduct, contact Hanley Law to discuss your legal options. Contact Hanley Law at (239)649-0050 or contact us through our Website to arrange a free confidential consultation with an attorney to discuss your experiences with your stock broker which resulted in investment losses.

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