The investor rights attorneys at Rosca Scarlato LLC law firm are currently investigating the alleged participation of Rhett Bedwell in an alleged Ponzi scheme to defraud, according to a Letter of Acceptance, Waiver and Consent (AWC), under review by attorney Alan Rosca.
Investor rights attorney Alan Rosca of the Rosca Scarlato LLC law firm is investigating activity related to Rhett Douglas Bedwell’s alleged participation in a Ponzi scheme, as more fully detailed below and in the AWC referenced above. Investors who are concerned about their investments with Bedwell may contact attorney Alan Rosca or his colleagues for a free case evaluation and discussion of potential options, or to provide any useful information. Call 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
Concerned about investments with
Rhett Bedwell Barred by FINRA for Failure to Provide Requested Documents and Information
In September 2020, LPL filed an amended Form U5 disclosing that Bedwell was allegedly identified in a pending customer arbitration alleging that Bedwell moved a client’s IRA to a different administrator and used forged documentation to invest claimant’s money in a Ponzi scheme, as stated in the AWC.
The AWC further alleges LPL filed another amended Form U5 in November 2020 disclosing an internal review of Bedwell’s activities in connection to allegations from customers.
As part of FINRA’s investigation, FINRA staff sent four letters to broker Rhett Bedwell to produce information and documents: two letters in September 2020, another letter in October 2020, and a fourth letter in December 2020, according to the AWC.
Bedwell allegedly provided some of the requested information and documents but failed to respond to certain requests. Furthermore, in February 2021, Bedwell acknowledged that he received FINRA’s requests and will not produce the information or documents requested at any time.
As a result of Bedwell’s alleged misconduct, he accepted a sanction including a bar from associating with any FINRA member firm in all capacities. LBL broker Rhett Bedwell signed the AWC accepting and consenting to FINRA’s findings, without admitting or denying the findings, and solely for the purposes of the proceeding brought by or on behalf of FINRA, prior to a hearing and without an adjudication of any issue of law or fact.
Rhett Douglas Bedwell Allegedly Involved in A Ponzi Scheme
According to his publicly available Linkedin profile, Rhett Bedwell was the Vice President of Investor Relations at now defunct RIA Graysail Capital. Last year, several investors filed a lawsuit alleging that Graysail Capital, along GraySail Capitol, GraySail Advisors, and Your Advisor Group, LLC engaged in fraud. Separately, another investor lawsuit alleged that Graysail Capital and Small World Capital engaged in fraudulent misconduct resulting in losses of millions of dollars. Reportedly, the Alabama Securities Commission referred to Small World Capital as a Ponzi type operation.
Public reports indicate that while Rhett Douglas Bedwell was working for LPL Financial, he allegedly used forged documents to invest more than $230K of the customer’s retirement funds through Graysail Capital into Small World Capital.
It is important to note that Bedwell was employed with LPL Financial located in Rogers, Arkansas from November 2017 until August 2019.
Investors who are concerned they may have lost money related to Rhett Bedwell’s alleged participation in a Ponzi scheme are encouraged to contact an experience attorney at the Rosca Scarlato LLC law firm for a free case evaluation and discussion of potential options. Call 888-998-0530 or via email at arosca@rscounsel.law.
Rhett Bedwell Subject to Customer Dispute Disclosures
A customer filed a dispute in August 2020 alleging Bedwell moved the client’s IRA to a different administrator and used forged documentation to invest claimant’s money in a Ponzi scheme, according to Bedwell’s FINRA Brokercheck page. The dispute shows as pending as of the date of this article.
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.
Concerned about investments with
Investor Rights Attorneys May Be Able to Help
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or broker misconduct and are currently investigating Rhett Douglas Bedwell’s alleged involvement in a Ponzi scheme and his alleged failure to provide documents and information requested by FINRA during an investigation.
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 Rhett Douglas Bedwell’s alleged involvement in a Ponzi scheme and alleged failure to provide documents and information requested by FINRA may contact attorney Alan Rosca or his colleagues 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.