FINRA barred former M&W Financial, Inc. broker Jason O'Neal Lampier for making fraudulent representations to a customer related to sales of oil and gas securities, in violation of the Securities Exchange Act.
According to the findings, Lampier knowingly, willfully or recklessly misrepresented the oil and gas limited partnership units' minimum investment amount, its potential returns and the actual type of oil and gas well acquired by the partnership.
In regards to the investment amount, Lampier allegedly stated to a customer that the minimum investment amount in one such oil and gas well partial unit was $28,000 even though the well's offering memorandum stated that the minimum investment was actually half of that partial unit for $14,000.
Investigators charged Lampier with material omissions of fact by failing to inform his customer that an oil and gas well was exploratory, as opposed to developmental.
Lampier also allegedly provided his customer with projections of a 100% return of principal within six to eight months and 400-500% within eight to ten years, which FINRA states were investment return projections made with "no reasonable basis."
According to Lampier's BrokerCheck in regards to criminal history, he was convicted of writing and cashing a check on a closed account in 1998 and felony burglary in 1992.
If you have invested with Jason O'Neal Lampier or with any other broker, financial adviser or firm whose fraudulent misrepresentations, omissions of material fact or any other misleading or inaccurate statements have proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for investigation and consultation.