Recently, Stephen S. Eubanks pleaded guilty to one count of wire fraud. Eubanks, a former registered advisor with Bright Trading in Las Vegas, Nevada, allegedly stole money from his client’s, telling them he would invest it, and, instead, used it on himself. Some of his investors included a college roommate and the father of a former fraternity brother. One of his friends gave him over $100,000 to invest. In all, Eubanks allegedly defrauded 32 investors out of $435,000. He used some of the new money to pay back original investors in a classic ponzi scheme. He spent over $435,000 on himself, including on vacations and payments for a boat. These are all against securities rules.
Eubanks was registered with IDS Life Insurance Company, American Express Financial Advisors, Smith Barney Inc., UBS, Bear, Stearns, Oppenheimer and Bright Trading in Las Vegas, Nevada from March 2010 until August 2016. He has three customer disputes against him and is currently not registered within the industry, according to his online Financial Industry Regulatory Authority (FINRA) BrokerCheck report. Please call us today if you would like to bring a claim against Bright Trading for investment losses. We take cases on a contingency fee basis only in the FINRA arbitration forum.