Investors who have suffered investment losses investing with Philip D. Horn through his former brokerage firm, Wells Fargo Advisors, LLC, may be able to recover their investment losses through FINRA arbitration.

According to recent criminal court filings, Philip Horn recently plead guilty to defrauding more than a ten Wells Fargo Advisors customers in a fraudulent cancel-rebill scheme. Upon information and belief, Philip Horn served as the managing director of the Westwood, California branch of Wells Fargo Advisors for a period of time.

According to FINRA disciplinary records, between November 2010 and September 2011, Wells Fargo broker Philip D. Horn ("the RR") is believed to have fraudulently canceled and rebilled approximately 90 securities transactions between customer accounts and accounts that Philip Horn controlled to the detriment of customers. These cancel-rebill transactions authorized by broker Philip Horn are believed to have fraudulently moved profitable trades worth approximately $4,127,669.56 from customers financial advisor Philip Horn’s personal accounts, allegedly allowing him to convert customer securities. Canceling and rebilling profitable trades between accounts is a fraudulent practice known as "cherry-picking." The fraudulent cancel-rebill transactions made at the direction of former Wells Fargo Advisors broker Philip Horn were entered from April 2009 until late September 2011.

If you have suffered losses investing with former Wells Fargo Advisors broker Philip D. Horn in his allegedly cancel-rebill transaction fraud, please contact the firm today for a FREE, NO OBLIGATION CONSULTATION to discuss your recovery options.