Tyler Woodward Allegedly Persuaded a Customer to Transfer over $117K to an Account at Another Firm, then a Bank Account, & Finally a Company Woodward Himself Created
Tyler Woodward allegedly persuaded a customer to transfer more than $117,000 from his account at Woodward’s member firm to a brokerage account at another firm, according to FINRA Reports under review by investor rights attorney Alan Rosca.
Tyler Woodward, of Colorado Springs, Colorado, then allegedly transferred said funds to a bank account, and then finally to Precision Financial Research, a company that Woodward purportedly created and owns, and which was not a registered broker-dealer or investment adviser firm, FINRA states.
Alan Rosca, of the Goldman Scarlato & Penny PC law firm, is investigating activity related to Tyler Woodward’s alleged conversion of client funds. Investors who believe they may have lost money in activity related to Tyler Woodward’s alleged conversion of customer funds are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
Woodward also allegedly obtained electronic access to said customer’s brokerage account and controlled transactions in that account, FINRA notes.
FINRA Seeking to Bar Woodward from the Securities Industry
Tyler Woodward is now under a FINRA investigation which is purportedly seeking to bar Woodward from the securities industry after he failed to respond to a FINRA investigation, FINRA states.
FINRA was purportedly investigating Woodward after eight customers reportedly made complaints against Woodward, including allegations of alleged conversion or theft, FINRA notes.
FINRA was notified via MML Investor Services’ Form U5 submission that Woodward had been terminated by the firm founded on accusations that he allegedly did not abide by MML’s procedures and policies, FINRA notes.
The Complaint alleges that by October 19, 2016, the Form U5 submitted by MML was allegedly amended to reflect that Woodward had been investigated by the firm for complaints from customers in regards to Woodward’s traditional life insurance sales practices.
Tyler Woodward was a financial advisor and registered representative of MML Investors Services from November 7, 2013 to October 13, 2016, and worked at a branch office Colorado Springs, Colorado, FINRA notes. Woodward also worked at Northwest Mutual Investment Services, LLC from April 2, 2012 until September 26, 2013, FINRA states.
Tyler Woodward is currently not registered with a FINRA-registered firm, FINRA reports.
Securities Lawyer Investigating
The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Tyler Woodward’s alleged conversion of client funds. 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 Tyler Woodward’s alleged conversion of client funds may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at email@example.com, or through the contact form on this webpage.