Craig Edward Lewis, a former Broker for Valic, Allegedly Engaged in Undisclosed Outside Business Activity by Making Sales of Annuities through a Third-party

Craig Lewis, a former broker for Valic Financial Advisors, Inc., allegedly made sales of equity indexed annuities via a third-party life insurance company to customers of his employer member firm and thus engaged in undisclosed outside business activity, according to a recent Letter of Acceptance, Waiver, and Consent (AWC) under review by attorney Alan Rosca.

Attorney Rosca, of the RoscaLaw LLC firm, is investigating Craig Lewis’s alleged undisclosed business activity. Investors who believe they may have lost money in activity related to Craig Lewis’s alleged undisclosed business activity are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.

Lewis allegedly took part in undisclosed outside business activity by making sales of equity indexed annuities through a third-party life  insurance company to customers of his employer member firm, the AWC notes. Lewis also allegedly steered trading activity toward a customer’s securities account held away from his employer, and did so without making disclosures to that brokerage firm that he was a registered representative with another firm and without disclosing his activities to his own firm, the AWC reports.

Craig Lewis Has been Barred by FINRA after Not Appearing at a Hearing Looking into His Alleged Sales Activities

Craig Lewis allegedly traded away in an undisclosed personal securities account which he held at a second firm without making disclosures to said firm that he was a registered representative, according to the aforementioned AWC under review by attorney Alan Rosca. Lewis does acknowledge that he received a request for a second hearing and refused to appear, the AWC reports.

Craig Edward Lewis, based on the aforementioned behavior, allegedly violated FINRA Rules and thus has been barred by FINRA, the AWC notes.

Valic allegedly terminated its affiliation with Lewis in March of 2016 and he has not been employed in the securities industry since that time, the AWC states. Lewis started his securities career in 1981 at A.G. Edwards and reportedly worked at eight securities firms before joining Valic in 2012, the AWC notes.

Lewis is currently not associated with a FINRA member firm, has no prior disciplinary history, and although Lewis is not currently associated with a FINRA member firm or registered with FINRA, he is subject to FINRA’s jurisdiction pursuant to FINRA’s By-Laws, the AWC notes.

Finally, one should also note that, according to the AWC, Craig Edward Lewis neither admitted nor denied the FINRA findings.

Securities Lawyer Investigating

The RoscaLaw firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Craig Lewis’s alleged undisclosed business activity. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions, and has helped recover tens of millions of dollars on behalf of investors.

Investors who believe they lost money as a result of Craig Lewis’s alleged undisclosed business activity may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998- 0530, via email at arosca@roscalaw.com, or through the contact form on this webpage.

filed under: Investigations

Tags: , , , , ,

In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent updates regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases. Also, the brokercheck report linked to some of our blogs is the up-to-date version as of the date of posting. Visitors may check the most recent version of each brokercheck report at www.finra.org.