Derrick J. Clouser Allegedly Failed to Disclose Outside Business Activities
Derrick Clouser allegedly failed to disclose outside business activities and misused client confidential information and misrepresentation of individual’s earned income, according to FINRA Reports under review by investor rights attorney Alan Rosca.
Alan Rosca, of the Rosca Scarlato LLC law firm, is investigating activity related to Derrick Clouser’s alleged outside business activities. Investors who believe they may have lost money in activity related to Derrick Clouser’s alleged outside business activities are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
Derrick Clouser also allegedly engaged in diversion of client funds into individual’s personal accounts through misrepresentation of a private placements, and made false statements of facts and material omissions regarding investment products and services offered by the individual, FINRA notes.
Derrick Clouser Barred by Oregon Division of Financial Regulation for Allegedly Deleting Client’s Info & Substituting His Own
Derrick Clouser was recently barred by the Oregon Division of Financial Regulation for allegedly taking the quarterly report of one of his clients, deleting her name and address, and then substituting his own name and address, FINRA states.
Clouser then allegedly submitted the report as part of his mortgage loan application, and he also allegedly inflated his income in his loan application, FINRA states. Clouser has also been given civil and administrative penalties and fines of $20,000, FINRA reports.
Derrick Clouser has worked for 19 years in the securities industry with 5 firms, and has 4 disclosures in his career, FINRA notes. He worked for Purshe Kaplan Sterling Investments in Portland, Oregon from July 15, 2014 until October 6, 2015, and with Morgan Stanley in Vancouver, Washington from June 1, 2009 until July 24, 2014.
Clouser was also registered with June 23, 2008 until June 1, 2009 in Portland, Oregon, and with UBS Financial Services, Inc in Portland, Oregon from March 9, 2001 until July 7, 2008, FINRA notes.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
Securities Lawyer Investigating
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Derrick Clouser’s alleged outside business activities. 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, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of Derrick Clouser’s alleged outside business activities may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
