Former JRL Capital Corporation broker Larry Law (CRD# 1273118) is accused of GWG Holdings Inc. investment losses. He has been registered with Great Point Capital LLC in Newport Beach, California, since May 2023 and with JRL Capital Advisors LLC in Newport Beach, California, since 2000. Previously, he was registered with JRL Capital Corporation in Irvine, California, from 1995 to 2023.
In August 2000, National Association of Securities Dealers, Inc. alleged, “NASD rule 2110 – a member firm, acting vicariously through respondent law, participated in contingency offerings of securities and in contravention of section 15(c) of the securities and exchange act of 1934 and rule 15c2-4, respondent firm did not transmit to a proper escrow account investor funds raised in the offerings. Additionally, in contravention of section 15(c) of the exchange act and rule 10b-9 thereunder, investor funds were withdrawn from the bank account into which they were deposited before the minimum offering amount was raised and while the minimum contingency amount was never raised as to some of the offerings, investors in these offerings did not receive reimbursement of their funds,” according to the Acceptance, Waiver & Consent (AWC). He fined jointly and severally.
Larry Law Customer Complaints
He has been the subject of two customer complaints in 2023, according to his CRD report:
April 2023. “Claimants allege breach of fiduciary duty, suitability, fraudulent or negligent material misrepresentation or omission, violation of FINRA Rules 2010, IM-2310-2 and 2020, failure to supervise, breach of contract.” The case is currently pending.
March 2023. “Claimants allege suitability, misrepresentation and omission of material facts, negligence, breach of fiduciary duty and failure to supervise.” The customer is seeking $400,000 in damages and the case is currently pending. The complaint was regarding GWG Holdings Inc. investment losses, and it took place while he was registered with JRL Capital Corporation.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, JRL Capital Corporation may be liable for investment or other losses suffered by Larry Law’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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