Last Updated: February 2025 (New York, NY)
National securities fraud lawyers at Patil Law P.C. are investigating former Dinosaur Financial Group, L.L.C. broker Carlton P. Fletcher (CRD #2455798) regarding allegations of converting customer funds and regulatory violations. The investigation stems from a January 2025 FINRA enforcement action that resulted in Fletcher being permanently barred from the securities industry.
Critical Insights About New York Financial Advisor Carlton Fletcher
- Advisor Name: Carlton Perry Fletcher
- CRD: 2455798
- Location: New York, NY
- Last Employer: Dinosaur Financial Group, L.L.C.
- Classification: Previously Registered Representative
- Primary Location: New York, NY
- Can Fletcher be sued in FINRA arbitration: Yes
- Customer Disputes: Multiple regulatory actions and customer complaints
- Previous Registrations: Licensed in multiple states
- Years of Experience: Since 1994
- Previous Employers: McGinn Smith & Co., J.P. Turner & Company
- Professional Qualifications: Series 7, 63, 99, SIE licenses
- Current Status: BARRED by FINRA (January 2025)
Details Of Current Investigation
FINRA’s January 2025 enforcement action reveals:
- Allegations of converting customer funds
- Refusal to cooperate with FINRA’s investigation
- Permanent bar from the securities industry
- Acceptance of findings through AWC settlement
- Multiple prior disciplinary actions
Analysis Of Alleged Misconduct
The allegations against Fletcher raise serious concerns about:
- Misappropriation of customer funds
- Breach of fiduciary duty
- Violation of FINRA rules and federal securities laws
- Pattern of regulatory violations
- Client account protection failures
- Supervision deficiencies
- Recordkeeping violations
History of Regulatory Issues
Fletcher’s disciplinary history includes:
- 2025 FINRA Bar for converting customer funds
- 2001 NASD disciplinary action for unauthorized trading
- Civil action by Utah Division of Securities
- Multiple customer disputes and arbitration awards
- History of unauthorized trading allegations
- Prior suspensions and monetary sanctions
Implications For Current And Former Clients
Current and former clients of Fletcher should:
- Review all account statements and transactions
- Check for unauthorized trading activity
- Verify all withdrawals and transfers
- Document any suspicious activity
- Preserve all account records and communications
- Consider seeking independent review
- Contact qualified securities attorneys
- File FINRA complaints if appropriate
- Explore recovery options through arbitration
- Understand applicable statutes of limitations
Regulatory Framework Violations
Fletcher’s alleged conduct potentially violated numerous regulations:
- FINRA Rule 2010 (Standards of Commercial Honor)
- FINRA Rule 2150 (Improper Use of Customer Funds)
- SEC Regulation Best Interest
- Federal securities laws regarding fraud
- State securities regulations
- Fiduciary duty requirements
- FINRA supervision rules
Recovery Options For Investors
Investors who have suffered losses while working with Carlton Fletcher may have several recovery options:
- FINRA arbitration claims
- Civil litigation where appropriate
- Regulatory restitution programs
- Claims against supervising firms
- Securities fraud claims
- Breach of fiduciary duty actions
Patil Law P.C. Will Help You Recover Your Investment Losses
If you have invested money with Carlton Fletcher or Dinosaur Financial Group, L.L.C., contact our investment fraud lawyers immediately for a free consultation. Our securities attorneys have extensive experience recovering losses for investors through FINRA arbitration and other legal remedies. Contact Attorney Patil online or call (800) 950-6553 for a confidential case evaluation.
