Mark Hopkins Allegedly Accepted Customer Funds for an Investment Without Approval from American Portfolios Financial Services
Former broker Mark Lewton Hopkins allegedly accepted customer funds for an investment not on the books of broker-dealer American Portfolios Financial Services, Inc. and without obtaining pre-approval, according to a FINRA Letter of Acceptance, Waiver & Consent (AWC) under review by investor rights attorney Alan Rosca.
Later, said funds were returned to the customer, according to the aforementioned AWC.
Investor rights attorney Alan Rosca, of the Rosca Scarlato LLC law firm, is investigating activity related to Mark Hopkins’ alleged acceptance of customer funds for an investment without obtaining pre-approval from American Portfolios Financial Services. Investors who believe they may have lost money in activity related to broker Mark Hopkins’ alleged acceptance of customer funds for an investment without obtaining pre-approval from American Portfolios Financial Services are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
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Mark Hopkins Barred by FINRA
In connection with FINRA’s investigation relating to the aforementioned issues disclosed in Hopkins’ Form U5, Hopkins received a request for documents and information pursuant to FINRA Rules, the AWC states.
Said quest sought the production of documents and information by March 22, 2019, and Hopkins allegedly completely failed to respond to this request, the AWC notes, and FINRA staff then sent a second request for documents and information to Hopkins pursuant to FINRA Rules on March 27, 2019.
The said request sought the production of documents and information by April 10, 2019, and Hopkins‘ counsel, on April 18, 2019, reportedly informed FINRA staff by e-mail that Hopkins would not produce the documents and information requested, the AWC stated.
As his counsel stated, and by the AWC, broker Mark Hopkins reportedly acknowledges that he received FINRA’s requests and would not produce the documents and information requested at any time, the AWC notes.
Hopkins, by refusing to produce the documents and information requested pursuant to FINRA Rules, allegedly violated FINRA Rules.
FINRA, as a result, allegedly barred Hopkins from associating with any FINRA member in any capacity, the AWC notes. Hopkins, in December of 2018, was also allegedly permitted to resign from American Portfolios, the AWC notes.
Hopkins is also allegedly the subject of Pending Customer Dispute alleging that he purportedly solicited funds for an investment away from the broker-dealer at a credit union, and that said credit union allegedly has no account FBO, according to Hopkins’ FINRA BrokerCheck Report.
He allegedly presented a copy of an altered bank check as evidence of his ability to repay, FINRA states. The aforementioned Dispute was filed on March 25, 2019, FINRA states, and damage amounts of $400,000.00 have been requested.
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Hopkins Was Registered with American Portfolios from July of 2009 Through End of 2018
Hopkins was first registered through a FINRA member firm in 1995, and from July 2009 through December 2018, he was registered through American Portfolios Financial Services, Inc. (American Portfolios) as a GeneralSecuritiesRepresentative, according to his FINRA Brokercheck Page.
He has not been registered or associated with a FINRA member firm since that time, the AWC notes. Although Hopkins is no longer associated with a FINRA member firm, FINRA retains jurisdiction over him pursuant to FINRA’s By-laws.
Broker Mark Hopkins has also been registered at the following firms:
- LPL Financial Corporation, Troy, Michigan— June 6, 1997 to July 9, 2009
- American Express Financial Advisors, Inc, Minneapolis, Minnesota— September 12, 1995 to June 11, 1997
- IDS Life Insurance Company, Minneapolis, MN— September 12, 1995 to June 11, 1997
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.
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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 Mark Hopkins’ alleged acceptance of customer funds for an investment without obtaining pre-approval from American Portfolios Financial Services. 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 former broker Mark Lewton Hopkins’ alleged acceptance of customer funds for an investment without obtaining pre-approval from American Portfolios Financial Services 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.
