FINRA Securities Arbitration Attorney, Russell L. Forkey, Esq.
LPL Financial Services (LPL) and Mutual Services Corporation (MSC) were recently sued in a FINRA arbitration by a client of Donald "Rick" Dahn for his successful attempt to borrow money from this client to support the operation of his securities business, Dahn Planning, Inc.,, and Wealth Preservation & Transfer, Inc.
Apparently, Mr. Dahn, during this same general period of time, also borrowed money from at least two of his other clients for the same purpose. None of this money has been repaid.
What makes this matter particularity egregious is the fact that Mr. Dahn convinced the client to loan him money from the client's home equity line for which the client is still paying interest.
LPL and MSC are being sued for their negligent failure to properly supervise Mr. Donald Dahn.
