Last updated March 30, 2023
Former Oppenheimer & Co. Investment Advisor, Kenneth H. South, Charged with Claims of Financial Fraud
Kenneth H. South (aka, Ken South) (CRD # 1387390) is a FINRA-registered broker and investment advisor currently associated with LPL Financial LLC and formerly associated with Oppenheimer & Co. in Newport Beach, CA. South has been accused of misconduct by clients during his tenure at Oppenheimer & Co., Inc. 4 times and was discharged by Smith Barney (then a subsidiary of Citigroup, but now known as Morgan Stanley Wealth Management) in 2006 for incorrectly marking sales orders in discretionary accounts. FINRA BrokerCheck lists several claims against Ken South:
Complaints against Financial Advisor Ken South
According to BrokerCheck by FINRA (BrokerCheck is a free tool from FINRA that can help you research the professional backgrounds of brokers and brokerage firms and uncover customer complaints and legal actions), Kenneth South has had 9 disclosures levied against him since 1993. Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings, and certain civil or criminal proceedings that they were a part of.
Between 2006 and 2021 Ken South was employed by Oppenheimer & Co., Inc. and was subject to 4 disclosures during his tenure at that firm. Here is a summary of the complaints against Ken South during his employment at Oppenheimer & Co., Inc.
Complaints against Ken South while he was employed at Oppenheimer & Co.
- In January 2021, South was charged with executing an unauthorized sale in the customer’s discretionary account in November 2020, resulting in unspecified damages.
- In November 2017, a customer alleged that South made unsuitable investments resulting in losses of approximately $160,000. The customer received an arbitration award of $25,000.
- In August 2008, South was accused of executing an unauthorized sale of auction rate securities in a customer account, resulting in losses of $42,500.
- In December 2006, a customer alleged that South made unsuitable investments over three months resulting in losses of approximately $23,600.
Complaints against Ken South while he was employed at Smith Barney (Citigroup)
Between 1993 and 2008, Ken South was employed by Smith Barney (then a subsidiary of Citigroup) and received 4 disclosures during his tenure with the company.
- On March 18, 2006, Smith Barney (Citigroup) terminated Ken South for marking tickets unsolicited when the trades were on a discretionary basis to effectuate the sale of Citigroup stock.
- In August 2004, while South was employed at Citigroup, a client alleged misrepresentation concerning equity, resulting in unspecified losses.
- In February 2003, a client accused South of failing to follow instructions and making unsuitable investments from 1999 through 2002, resulting in losses of $120,000.
- In June 1994, South was charged with misrepresentation, excessive trading, breach of fiduciary duty, and breach of contract in connection with options and securities transactions while employed at Citigroup, resulting in losses of approximately $71,000. FINRA rendered an award in the amount of $15,000 against South and $5,000 against the firm.
Complaints against Ken South while he was employed at Lehman Brothers
- In December 1993, South was charged with the unauthorized exchange of mutual funds while employed at Lehman Brothers, resulting in a settlement of $56,928.62.
How To Recover Your Losses If You Have Been Victimized by Ken South
Our law firm is looking into claims of investment losses by current and former customers of Kenneth H. South, LPL Financial LLC, and Oppenheimer & Co. Inc. If you have been a victim of fraud or a ponzi scheme associated with Ken South, please contact our firm today.
Federal and state securities laws protect you against investment losses resulting from broker misconduct by Kenneth H. South. But you must act quickly to enforce your rights. Reif Law Group has the skills, resources, and determination to help you recover your losses. Contact us now for a free consultation. Time is of the essence.