Did you lose money investing with former Momentum Independent Network Inc. broker Leslie Jackson (CRD# 2176917)? He was registered with Momentum Independent Network Inc. in Dallas, Texas, from 1991 to 2023, when he was terminated regarding, “Violating firm policy.”
In September 2023, FINRA barred him after he consented to the sanction and to the entry of findings that he participated in private securities transactions that totalled $1,975,000 without providing advance written notice to his firm prior to his engagement with these transactions. According to FINRA, “The findings stated that Jackson participated in the sale of promissory notes issued by entities purportedly engaged in a business that provided financing to construction companies.” It is reported that he recommended the investments to five investors, including a family member and three firm customers, who ultimately purchased $1,475,000 of the issuers’ promissory notes. The broker also personally purchased notes totaling $500,000. FINRA reported that he “participated in these investments by telling the investors about the notes, answering questions about the investments, helping the investors complete the subscription documents, and collecting the payments for the investments to provide to the issuers. Jackson received periodic payments from the issuers in amounts equal to 3% of each investment per year during their respective terms, paid monthly. In addition, Jackson falsely responded to questions about whether he had participated in private securities transactions on compliance questionnaires.”
Leslie Jackson Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
December 2022. “Unsuitable recommendations; breach of contract and breach of fiduciary duty.” The customer sought $675,000 in damages, and the case was settled for $160,000. The complaint was regarding promissory notes.
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, Momentum Independent Network Inc. may be liable for investment or other losses suffered by Leslie Jackson’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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