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Luke Powell: FINRA Suspends Growth Capital Rep Over Alleged Private Securities Transactions

Luke PowellPublicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on December 18, 2018 indicate that California-based Growth Capital Services broker Luke Powell has been sanctioned by FINRA in connection to alleged rule violations and suspended from acting as a broker. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Powell (CRD# 2605657).

Luke Powell has spent 16 years in the securities industry and has been registered with Growth Capital Services in San Francisco, California since 2015. Previous registrations include Flying Cloud Securities in San Francisco, California (2014-2015); Gordian Investments in Walnut Creek, California (2012-2014); Equus Financial Consulting in Almo, California (2011-2012); Newoak Capital Partners in New York, New York (2010-2011); J. Giordano Securities Group in New York, New York (2005-2008); Independent Research Group in New York, New York (2003-2005); BancBoston Robertson Stephens in San Francisco, California (1998-1999); BancAmerica Robertson Stephens in San Francisco, California (1997-1998); and Robertson Stephens & Company in San Francisco, California (1996-1997). He has passed three securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on March 24, 2003; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; and Series 7 (General Securities Representative Examination), which he obtained on January 29, 2003. He is a registered broker with 16 US states and territories: Alabama, California, Colorado, Connecticut, Florida, Illinois, Kentucky, Michigan, Nevada, New Jersey, New York, Pennsylvania, South Carolina, Tennessee, Texas, and Washington.

According to his BrokerCheck report, he was recently sanctioned by FINRA and has resigned from one former employer in connection to alleged rule violations.

In November 2018 FINRA sanctioned him in connection to allegations he participated in undisclosed and unapproved private securities transactions constituting an agreement he entered to through a company (which had received prior approval by the firm as an outside business activity) to engaged in a “private offering of its convertible notes.” Per FINRA’s findings, Mr. Powell “marketed the offering and a venture capital fund” which he connected with the company invested in the offering; FINRA notes that the venture fund was not a client of the firm, and that Mr. Powell “arranged for the placement of the offering” on a crowd-funding platform, ultimately receiving compensation of $17,500 from the company for these activities. He was ordered to pay a fine of $5,000 and disgorgement of $17,500, and he was issued a three-month suspension.

If you or someone you know has lost money investing with Luke Powell, call the experienced attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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