Lawrence Michael LaBine Sanctioned by FINRA
In April 2016, Lawrence Michael LaBine, of Fountain Hills, Arizona, consented to FINRA’s sanctions and was barred from associating with FINRA members in any capacity. According to the FINRA disciplinary action, “Without admitting or denying the allegations, LaBine consented to the sanction and to the entry of findings that he made fraudulent misrepresentations and omissions of material facts to customers in connection with the sale of senior debentures (Series D)…” LaBine was also found to have, “Made unsuitable sales of non-traded real estate investment trust (REIT’s) and other alternative investments, including Series D and his entity’s securities to customers who were elderly and/or inexperienced investors.