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Jeffrey Daniel Basford was a broker in Westport, Connecticut, until he was barred in August 2022. Until then, he was registered with David Lerner Associates, INC. According to FINRA’s BrokerCheck, Jeffrey Basford is the subject of 4 disclosures and, as of August 2022, was being investigated for his “potential unsuitable sales of proprietary energy products [Energy 11 L.P.] to customers at his member firm.”
David Lerner Associates has a history of selling proprietary products to their customers. According to InvestmentNews, David Lerner Associate’s in-house energy fund, Energy 11 L.P., reported $45 million in unpaid distributions to investors in an annual report early 2022.
Peiffer Wolf is currently investigating claims against Jeffrey Basford of David Lerner Associates for his sale of potential unsuitable proprietary energy products, including Energy 11 L.P. If you’ve invested with Jeffrey Basford or purchased Energy 11 L.P., Contact Us by calling 585-310-5140 or by filling out an online Contact Form for a FREE Consultation.
Jeffrey Basford | David Lerner Associates
According to FINRA’s BrokerCheck, Jeffrey Basford is the subject of 4 Disclosures, including:
- June 2021 – Customer Dispute; Settled. Amount: $205,000. Allegations include “misrepresentation” and “unsuitability/omission”.
- June 2021 – Customer Dispute; Pending. Amount Requested: $100,000. Allegations include “misrepresentation” and “unsuitability/omission”.
- September 2021- Customer Dispute; Pending. Amount Requested: $200,000. Allegations include “misrepresentation” and “unsuitability/omission”.
- August 2022 – Regulatory; Final. Basford consented to a bar from the securities industry for declining to appear for on-the-record testimony requested by FINRA. FINRA investigated Basford in connection with allegations concerning potential unsuitable sales of proprietary energy products to customers at his member firm.
Jeffrey Basford was a registered broker with David Lerner Associates, INC. from 2006 to 2022.
To review Jeffrey Basfrod’s Brokercheck report, click here:
https://brokercheck.finra.org/individual/summary/5077566
*BrokerCheck is run by the Financial Industry Regulatory Authority, Inc. (FINRA)
Jeffrey Basford or David Lerner Associates Client? Purchased Energy 11 L.P.?
Financial advisors (brokers) have a legal obligation and regulatory obligation to recommend only suitable investments that are appropriate for their clients. Their broker-dealer (employing brokerage firm) has a legal and regulatory obligation to supervise the financial advisor’s sales practices and dealings with clients. To the extent that any of these duties are breached, the customer may be entitled to a recovery of their investment losses.
Based on our experience, we believe that some investors may have been the victims of Jeffrey Basford’s alleged broker misconduct and investment fraud. If you invested with Jeffrey Basford of David Lerner Associates, INC, Contact Peiffer Wolf Carr Kane & Conway today by filling out a Contact Form or by calling 585-310-5140 to schedule a FREE Case Evaluation.
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Brokercheck®️ report
Information about this broker was obtained from FINRA’s BrokerCheck on August 25, 2022. You should always review the broker’s BrokerCheck report for updated information. If you believe some of the content on this page does not reflect the report, contact us.
FREE Consultation | 585-310-5140
If you believe you were a victim of investment fraud or broker misconduct, it is imperative to take action. Peiffer Wolf has represented thousands of victims, and we remain committed to fighting on behalf of investors.
Peiffer Wolf is currently investigating claims against Jeffrey Basford for his recommendation of potential unsuitable proprietary energy products, including Energy 11 L.P. If you’ve invested with Jeffrey Basford or purchased Energy 11 L.P., Contact Us today by filling out a Contact Form or by calling 585-310-5140 to schedule a FREE Case Evaluation.
