In a troubling case of alleged financial misconduct, Brian Simms, a financial advisor based in Carmel, Indiana, is facing serious accusations of misappropriating and losing over $1.3 million of his clients’ money. The allegations have led to multiple civil lawsuits against Simms, casting a shadow over his professional reputation and raising concerns among investors.
Lawsuits Allege Misappropriation and Fabricated Statements
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Louis and Marsha Hill, former clients of Brian Simms, have filed a lawsuit alleging that the financial advisor misappropriated $450,719 of their money since January 2014. The Hills claim that Simms provided them with bogus and fabricated statements regarding their investments, concealing the true nature of his actions.
In another lawsuit, Donna Wagner, a widow who sought Simms’ assistance following her husband’s death, alleges that the advisor misappropriated a staggering $1,342,482 of her assets. Wagner claims that Simms made misrepresentations to convince her to write checks in massive dollar amounts, taking advantage of her vulnerability during a difficult time.
A History of Financial Problems and Legal Issues
Brian Simms’ alleged misconduct appears to be part of a larger pattern of financial problems and legal issues. According to court records, Simms has faced numerous lawsuits filed against him, including mortgage foreclosure, civil collections, and even bankruptcy.
The Indiana Secretary of State’s office has not confirmed or denied whether they are actively investigating Simms or his businesses, Brendanwood Financial Brokerage LLC and Brendanwood Financial Services LLC. As of now, Simms has not been criminally charged in connection with the alleged scam.
Denials and Ongoing Legal Proceedings
Despite the serious allegations, Brian Simms’ attorney has denied any wrongdoing on the part of his client. The attorney stated that Brendanwood Financial Brokerage remains open and operating, suggesting that the business continues to function amidst the legal turmoil.
As the civil lawsuits progress through the legal system, investors and the public await further developments in the case. The allegations against Brian Simms serve as a sobering reminder of the importance of due diligence when entrusting one’s financial well-being to an advisor.
Protecting Investors’ Rights and Seeking Justice
For investors who believe they may have fallen victim to Brian Simms’ alleged scam, it is crucial to understand their rights and explore legal options. Haselkorn & Thibaut, a national investment fraud law firm with offices in Florida, New York, North Carolina, Arizona, and Texas, is currently investigating the allegations against Brian Simms and his companies.
With over 50 years of combined experience and an impressive 98% success rate, Haselkorn & Thibaut has a proven track record of helping investors recover losses through FINRA arbitration. The firm operates on a contingency fee basis, meaning clients pay no fees unless a recovery is obtained.
Investors who have suffered losses due to Brian Simms’ alleged misconduct are encouraged to contact Haselkorn & Thibaut for a free consultation by calling their toll-free number, 1-800-856-3352. The firm’s experienced attorneys are dedicated to fighting for investors’ rights and holding financial advisors accountable for their actions.
As the Brian Simms financial advisor scam continues to unfold, it serves as a stark reminder of the need for transparency, integrity, and accountability in the financial services industry. By working with reputable firms like Haselkorn & Thibaut, investors can take steps to protect their hard-earned money and seek justice in the face of financial wrongdoing.
For more information on Brian Simms’ FINRA BrokerCheck record, please visit: https://brokercheck.finra.org/individual/summary/4827285
