National investment loss lawyers KlaymanToskes is investigating broker Jared Eakes (CRD# 6618313) of GraySail Advisors and Merrill Lynch, who is currently facing charges by the Securities and Exchange Commission (“SEC”) for allegedly defrauding clients of over $2.7 million, and charges by the Department of Justice (DOJ) for fraudulently obtaining approximately $4.8 million through the Paycheck Protection Program (PPP).
According to the SEC’s complaint, Eakes violated his position as a financial advisor to seize control of clients’ retirement assets, moving them into accounts he controlled without their knowledge or consent. These assets were allegedly diverted to fund personal expenses, including student loan repayments and substantial payments to a Las Vegas casino. Eakes carried out these fraudulent activities through his investment advisory firm, GraySail Advisors, LLC, which he used as a front to manipulate and misappropriate client funds.
In addition to the SEC charges, Jared Dean Eakes is also facing legal action from the U.S. Attorney’s Office for the Middle District of Florida, where he has been indicted on five counts of wire fraud and three counts of bank fraud. These charges relate to a scheme in which Eakes fraudulently obtained approximately $4.8 million from the Paycheck Protection Program (PPP), a Covid-era initiative intended to assist small businesses in maintaining payroll during the pandemic. Rather than utilizing the funds for their intended purpose, Eakes allegedly used the relief money for options trading and cash withdrawals.
According to FINRA BrokerCheck, broker Jared Eakes was previously registered with Merrill lynch from March 2016 to February 2018 in Jacksonville, FL. Eakes has reportedly been employed by Gray Sail since February 2018.
Investors that suffered losses with broker Jared Eakes are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at lawrence@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national investment loss law firm that represents the interests of investors throughout the world who have suffered losses due to broker misconduct, investment fraud, and securities violations.
The article linked below contains important information relating to the complaint against broker Jared Eakes:
If you suffered losses with broker Jared Eakes, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.
The firm has helped recover over $600 million (exclusive of attorneys fees and costs) for investors, and can help you determine if your loss is due to financial advisor misconduct, unsuitable investment advice, and/or other securities violations.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Jared Eakes. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
According to FINRA, investment firms such as GraySail Advisors and Merrill Lynch are responsible for the supervision of all of the activities of their registered brokers and investment advisors. Investors may be entitled to a financial recovery if their brokerage firm failed to supervise the representative managing their brokerage account, and/or if their broker/advisor made unsuitable investment recommendations.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Jared Eakes, or have concerns regarding your investment portfolio at GraySail Advisors and/or Merrill Lynch, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation to discuss your recovery options.