THOMAS G GRESHAM is currently employed as a Broker and/or Investment Adviser at MOLONEY SECURITIES CO., INC. located at 7101 COLLEGE BLVD #300, #1610, LEAWOOD, KS, 66209.
THOMAS G GRESHAM has worked at MOLONEY SECURITIES CO., INC. since July 10, 2012
Disclosure History
THOMAS G GRESHAM has 17 Disclosure Event(s).
Date: December 21, 2017 Category: Customer Dispute Allegations: EXCESSIVE AND UNSUITABLE TRADING, FRAUD, NEGLIGENCE, BREACH OF FIDUCIARY DUTY AND FAILURE TO SUPERVISE FROM 10/2008 TO 11/2017. Damage Amount Requested: $1,000,000.00
Date: June 07, 2017 Category: Customer Dispute Allegations: Time frame: 2010-2012 UBS recommended an overconcentration strategy and limited partnerships in the energy sector which exposed Claimant to risk inconsistent with Claimant's investment objectives. Damage Amount Requested: $500,000.00 Settlement Amount: $32,500.00 Broker Comment: CLAIMANT FILED AGAINST PRESENT AND FORMER MEMBER FIRMS AND SETTLED WITH FORMER FIRM, UBS FINANCIAL SERVICES, ON 4/13/18 FOR AMOUNT $32,500. ACTION AGAINST MOLONEY SECURITIES REMAINS IN PENDING STATUS.
Date: July 10, 2015 Category: Customer Dispute Allegations: ATTORNEY SUBMITS CLAIM ON BEHALF OF CLIENT ALLEGING UNSUITABLE RECOMMENDATIONS, FAILURE OF THE FIRM TO SUPERVISE, BREACH OF FIDUCIARY DUTIES, BREACH OF THE KANSAS SECURITIES ACT, AND UNJUST ENRICHMENT. SEEKS COMPENSATORY AND PUNITIVE DAMAGES AS WELL AS COSTS, FEES AND INTEREST. (9/01/2006-10/31/2008) Settlement Amount: $105,000.00
Date: July 10, 2015 Category: Customer Dispute Allegations: ATTORNEY SUBMITS CLAIM ON BEHALF OF CLIENT ALLEGING UNSUITABLE RECOMMENDATIONS, FAILURE OF THE FIRM TO SUPERVISE, BREACH OF FIDUCIARY DUTIES, BREACH OF THE KANSAS SECURITIES ACT, AND UNJUST ENRICHMENT. SEEKS COMPENSATORY AND PUNITIVE DAMAGES AS WELL AS COSTS, FEES AND INTEREST. (04/01/2007-10/31/2008, 11/30/2008) Settlement Amount: $335,000.00
Date: July 10, 2015 Category: Customer Dispute Allegations: ATTORNEY SUBMITS CLAIM ON BEHALF OF CLIENT ALLEGING UNSUITABLE RECOMMENDATIONS, FAILURE OF THE FIRM TO SUPERVISE, BREACH OF FIDUCIARY DUTIES, BREACH OF THE KANSAS SECURITIES ACT, AND UNJUST ENRICHMENT. SEEKS COMPENSATORY AND PUNITIVE DAMAGES AS WELL AS COSTS, FEES AND INTEREST. (9/1/2008-10/31/2008, 11/01/2008) Settlement Amount: $110,000.00
Date: July 10, 2015 Category: Customer Dispute Allegations: ATTORNEY SUBMITS CLAIM ON BEHALF OF CLIENT ALLEGING UNSUITABLE RECOMMENDATIONS, FAILURE OF THE FIRM TO SUPERVISE, BREACH OF FIDUCIARY DUTIES, BREACH OF THE KANSAS SECURITIES ACT AND UNJUST ENRICHMENT. SEEKS COMPENSATORY AND PUNITIVE DAMAGES AS WELL AS COSTS, FEES AND INTEREST. (11/01/2004-10/31/2008) Settlement Amount: $62,000.00
Date: July 10, 2015 Category: Customer Dispute Allegations: ATTORNEY SUBMITS CLAIM ON BEHALF OF CLIENT ALLEGING UNSUITABLE RECOMMENDATIONS, FAILURE OF THE FIRM TO SUPERVISE, BREACH OF FIDUCIARY DUTIES, BREACH OF THE KANSAS SECURITIES ACT AND UNJUST ENRICHMENT. SEEKS COMPENSATORY AND PUNITIVE DAMAGES AS WELL AS COSTS, FEES AND INTEREST. (9/01/2007-10/31/2008) Settlement Amount: $43,000.00
Date: November 19, 2014 Category: Customer Dispute Allegations: CLIENT COMPLAINED ABOUT MARKET LOSSES OCCURRING DURING 4TH QUARTER 2014 FROM INVESTMENTS IN ENERGY SECTOR. Damage Amount Requested: $150,000.00 Settlement Amount: $55,000.00 15-00633
Date: June 11, 2014 Category: Customer Dispute Allegations: CLAIMANT'S ATTORNEY ALLEGES EXCESSIVE AND UNSUITABLE TRADING AND MISAPPROPRIATION OF CUSTOMER'S FUNDS 06/02/2003-12/31/2008)**ARBITRATION: CLAIMANTS ALLEGE FA MISAPPROPRIATED FUNDS, MADE UNSUITABLE INVESTMENT RECOMMENDATIONS AND EXCESSIVELY TRADED THEIR ACCOUNTS BETWEEN 2003 AND 2008. Settlement Amount: $30,000.00 14-01834
Date: May 15, 2014 Category: Customer Dispute Allegations: CLAIMANTS ALLEGE THAT THEIR FINANCIAL ADVISOR ENGAGED IN EXCESSIVE AND UNSUITABLE TRADING IN THEIR ACCOUNTS AND, IN DOING SO, CHARGED EXCESSIVE COMMISSIONS/FEES AND MARGIN INTEREST. TIMEFRAME: NOVEMBER 2008 TO DECEMBER 2012. Damage Amount Requested: $418,000.00 Settlement Amount: $30,000.00 14-01834
Date: May 03, 2012 Category: Employment Separation After Allegations Firm Name: UBS FINANCIAL SERVICES INC. Termination Type: Discharged Allegations: MR. GRESHAM'S EMPLOYMENT WAS TERMINATED WHEN HIS MANAGERS LOST CONFIDENCE IN HIS WILLINGNESS TO ABIDE BY THE FIRM'S ORDER ENTRY POLICIES BECAUSE (1) HE MISMARKED SOLICITED TRADES AS UNSOLICITED AFTER PREVIOUS DISCIPLINE FOR EXERCISING DISCRETION AND (2) HE DID NOT GIVE SATISFACTORY ANSWERS IN CONNECTION WITH THE FIRM'S REVIEW OF THE MISMARKING. Broker Comment: MR. GRESHAM DISAGREES WITH THE ALLEGATIONS AND THE TERMINATION
Date: October 03, 2011 Category: Customer Dispute Allegations: TIME FRAME: MARCH 1, 2011 TO SEPTEMBER 30, 2011THE CLIENT ALLEGES SHE WAS IN UNSUITABLE INVESTMENTS. THE CLIENT FURTHER ALLEGES THAT INVESTMENTS WERE PURCHASED IN HER ACCOUNT WITHOUT ASKING HER. THE ESTIMATED ALLEGED DAMAGES ARE IN EXCESS OF $5,000.
Date: September 13, 2010 Category: Customer Dispute Allegations: RECEIVED LETTER FROM CLIENT'S ATTORNEY ALLEGING THE MANAGED PROGRAMS THE CLIENT'S WERE ENROLLED IN DID NOT CORRESPOND WITH THE STATED INVESTMENT OBJECTIVE AND THAT THEIR PORTFOLIOS WERE NOT DIVERSIFIED. (01/24/2003-12/31/2008)ARBITRATION ALLEGATIONS: CLAIMANTS,RESIDENTS OF MISSOURI, ALLEGE FROM DECEMBER 2004 TO NOVEMBER 2008 FA MADE UNSUITABLE INVESTMENT RECOMMENDATIONS. CLAIMANTS ARE REQUESTING CONSEQUENTIAL DAMAGES IN EXCESS OF $327,881. Damage Amount Requested: $327,881.00 Settlement Amount: $160,000.00 11-00077
Date: June 01, 2010 Category: Customer Dispute Allegations: CLAIMANT, A RESIDENT OF MISSOURI, ALLEGES BETWEEN 2008 AND 2010 FA RECOMMENDED UNSUITABLE INVESTMENTS IN HER ACCOUNT. CLAIMANT IS REQUESTING DAMAGES IN EXCESS OF $275,000. Damage Amount Requested: $275,000.00 Settlement Amount: $225,000.00 10-02444
Date: October 05, 2009 Category: Customer Dispute Allegations: TIME FRAME: FEBRUARY 2008-FEBRUARY 27, 2009CLAIMANT ALLEGES FA INVESTED HER IN UNSUITABLE MARGIN ACCOUNTS AND SPECULATIVE EQUITIES. Damage Amount Requested: $237,000.00 Damages Granted: $260,000.00 09-05301
Date: November 19, 2008 Category: Customer Dispute Allegations: CLIENT ALLEGED SUITABILITY AND MISREPRESENTATION. DAMAGES NOT SPECIFIED BUT BELIEVED TO EXCEED $5,000 (FEBRUARY 15, 2008-NOVEMBER 28, 2008) Settlement Amount: $50,000.00
Date: February 13, 2001 Category: Customer Dispute Allegations: CLAIMANT COMPLAINS ABOUT ACCOUNT ACTIVITY BEGINNING IN 1996. CLAIMS THAT FA RECOMMENDED AND SOLICITED CLAIMANT TO PURCHASE MANY UNSUITABLE STOCKS THAT WERE SPECULATIVE IN NATURE AND NOT OF THE TYPE THAT ONE WOULD PURCHASE FOR A RETIREMENT ACCOUNT. Damage Amount Requested: $165,090.40 Settlement Amount: $50,000.00 Broker Comment: FOR BUSINESS REASONS AND WITHOUT ADMITTING ANY LIABILITY ON PART OF THE FIRM, THIS MATTER WAS SETTLED IN THE AMOUNT OF $50,000.
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