SSEK Law Firm is looking into Former UBS Broker Robert Turner In Waco, Texas, Who May Have Stolen Over $17M From Customers

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May 25, 2022, 06:00 ET

WACO, Texas, May 25, 2022 /PRNewswire/ -- In late 2021, Turner and his wife, then UBS broker Stephanie L. Turner, joined Stifel, Nicolaus, & Co. She is still with that firm although Robert left after just several months in early 2022. (While at UBS, the two of them reportedly oversaw $900M in customer assets and made about $3M in yearly revenue.)

In April 2022, UBS filed a lawsuit against Robert Turner accusing him of allegedly defrauding nearly two dozen investors of more than $17M. The firm, which said that it has already paid $5.7M to three of its clients related to this alleged scheme, wants the Turners to pay the rest. UBS also filed a FINRA arbitration case against Robert Turner.

SSEK Law Firm represents investors against the broker-dealer and/or their financial advisor whose negligence, misconduct, or failure to supervise allowed their customers to become the victims of investment scams. If you are a former customer of UBS broker Robert Turner who sustained losses and you would like to find out whether you may have grounds for a FINRA arbitration claim, call our broker-dealer negligence lawyers at (800) 259-9010 today.

Alleged Investor Scam Went On For Over Two Decades, Claims UBS
In its lawsuit, UBS contends that Robert Turner and a friend from college, Mark Woodward, solicited customers with whom he had personal or familial ties and persuaded a number of them to invest in their alleged "sham" company Fairfax Financial Corporation.

UBS contends that Turner engaged in selling away, which means he sold this investment without the firm's approval or authorization. But that doesn't mean the brokerage firm has no alleged liability in its former financial advisor's alleged misconduct.

Broker-dealers have a duty to not only properly supervise their registered representatives but also to prevent, identify, or stop financial advisor misconduct from happening while protecting their clients' assets.

Seasoned Broker Misconduct Lawyers Representing Investors Against UBS
Over the years, SSEK Law Firm has gone up against UBS on behalf of investors who have been bilked by their financial advisors. We have obtained damages for them. Please contact our broker misconduct attorneys today.

Throughout the US, call SSEK Law Firm at (800) 259-9010. In Texas, call (713) 227-2400 in Houston or (214) 613-5306 in Dallas.

Media Contact:
Mathew Brown-Watson
[email protected]

SOURCE Shepherd Smith Edwards & Kantas LLP