BIRMINGHAM, Alabama – Fob James Law Firm today announced the filing of a lawsuit to recover the life savings of 6 retirees in Dothan, Alabama and the Florida Panhandle lost due to financial industry fraud. The lawsuit, filed in the Circuit Court of Houston County Alabama, alleges that former financial advisor Blake Daughtry of Dothan, Alabama and other conspirators forged signatures, opened fraudulent accounts, transferred retirement savings into sham entities, and stole millions of dollars of clients’ retirement savings. The lawsuit also alleges breach of fiduciary duties and negligence on the part of two financial institutions, Kestra Investment Services, LLC of Austin, Texas and Equity Trust Company of Westlake, Ohio.
Daughtry, who was barred from the financial industry by the regulatory agency FINRA in March 2020, is a former Kestra registered representative. In addition to Blake Daughtry, Kestra Investment Services, LLC, and Equity Trust Company, the lawsuit also names as defendants Graysail Advisors, LLC of Jacksonville, Florida; Small World Capital, LLC of Jacksonville, Florida; The Daughtry Group of Dothan, Alabama; Jared Eakes of unknown parts; and David Smalls of Jacksonville, Florida.
Fob James, IV, counsel for Plaintiffs, said, “my clients are hardworking men and women. The money they saved for retirement was earned from their conscientious labor over decades. From the evidence so far—it looks like my clients were repeatedly lied to, their signatures forged, their retirement savings stolen, and the broker-dealers and financial institutions involved failed to stop it or warn my clients. I am reaching out to anyone who knows any facts on what went down with Blake Daughtry, Kestra, or any of the other defendants to contact me so I can help my clients get their retirement savings back.”
Fob James, IV can be reached at the Fob James Law Firm in Birmingham, Alabama: 205-407-6009.