Todd Lesk Embroiled in $1 Million Dispute

Todd Lesk (CRD# 2788300[1]), formerly a broker registered with Cambridge Investment Research, is embroiled in an investor dispute and was recently barred from acting as a broker. MDF Law is currently investigating the former Coral Springs, Florida-based financial professional for alleged rule violations. If you have concerns regarding your investments, contact us for a free consultation.

More information about the allegations against Mr. Lesk follows below. This post is sourced from his BrokerCheck record, a Financial Industry Regulatory Authority (FINRA) resource accessed on February 7, 2024.

Pending Disputes Seek More than $1 Million

On January 22, 2024, an investor filed a dispute involving Mr. Lesk. The claim alleges that he “used his position of trust to provide a false layer of legitimacy” with regard to structured settlements. It remains pending, seeking $47,516.93 in damages.

Several months earlier, on September 19, 2023, another investor filed a dispute involving Mr. Lesk. In this case, the customer alleged that he recommended unsuitable investments in unspecified products. The dispute, which remains pending, seeks $1,000,000 in damages.

Past Dispute Alleged Churning, Unauthorized Trades

The above-described disputes are not the only ones in Mr. Lesk’s past. On March 6, 2017, a party of investors filed a claim alleging that he made unauthorized transactions in their trust account. They also alleged that he churned the account—in other words, that he excessively traded it either recklessly or with an intent to defraud the customers. In November 2017, his former member firm settled the dispute for $30,000.

Todd Lesk Resigned from Cambridge Investment Research

On October 4, 2023, Mr. Lesk resigned from his former position at Cambridge Investment Research. As a disclosure on his BrokerCheck profile reflects, the firm permitted his resignation based on an understanding that he was “unwilling to cooperate with either the regulators or the Firm’s requests for information.” 

FINRA Investigated Lesk over Crypto Offering

On October 6, 2023, FINRA filed a disciplinary action against Mr. Lesk. According to a Letter of Acceptance, Waiver, and Consent (# 2023079873001[2]), he refused to provide information and documents, or to appear for on-the-record testimony, as part of FINRA’s investigation into his conduct. As the AWC Letter goes on to describe, FINRA investigated whether he recommended a customer invest in a cryptocurrency offering away from his member firm. He allegedly refused to cooperate with regulators, consequently violating FINRA rules. While he did not admit or deny these findings, he did consent to a permanent bar from acting as a broker. His bar began on October 6, 2023.

Lesk Financial Broker Last Based in Coral Springs, Florida

Todd Lesk launched his career as a broker in 1997, when he registered with LH Ross & Company in Boca Raton, Florida. Over the following years, he worked at firms including J.P. Turner & Company, Sterne Agee Financial Services, and LPL Financial. He joined his most recent member firm, Cambridge Investment Research, in 2022, and worked at its Coral Springs office until October 2023. As his BrokerCheck record reflects, he operated under the names RLA Financial and Lesk Financial. 

Investment Fraud Victim? Call MDF Law Today

Are you a current or former client of Todd Lesk with complaints about your portfolio? Were your accounts unsuitably traded, or were the risks associated with your investments left undisclosed? You may have grounds to file a FINRA arbitration claim to pursue losses. 

At MDF Law, our attorneys have decades of experience advocating for investors. We have successfully recovered tens of millions in losses. Our clients only pay a fee if they win their case, and we offer free consultations nationwide. Call 800-767-8040 to speak with an attorney today.