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State Rep. Paul Mosley fired from financial planner job after 2016 election

July 16, 2018

State Rep. Paul Mosley was fired from his job as a financial planner just a few weeks after the 2016 election.

According to BrokerCheck.org, which is managed by the Financial Industry Regulatory Authority, Mosley had two unidentified customer complaints filed against him in 2016, each alleging misuse of their investments. The complaint requesting more than $12,000 in damages was withdrawn and the other alleging more than $143,000 in damages was denied, the website states.

Mosley was terminated from his job as a broker with Ameriprise Financial Services, Inc., on Nov. 28, 2016, the website says. “Registered Representative was terminated for compliance policy violations related to complying with disciplinary action and heightened supervision, soliciting a prohibited security and suitability of a transaction,” the website states.

The complaints drew the attention of investment lawyers, which sought clients to come forward for a case against Mosley.

Investment lawyers of Gana Weinstein LLP posted an article onto its website in June 2017 stating that the firm was investigating Mosley’s termination from Ameriprise.

“We investigate Brokers that have regulatory violations on their CRDs or their broker reports so we track broker reports pretty carefully and we found that he had been discharged from Ameriprise in 2016 for compliance policy violations,” said Adam Gana, a securities attorney at the firm. “We wrote the article in the hopes that some of his clients would come forward and we could facilitate a more thorough investigation but we have not had anyone reach out to us.”

Mosley did not return Today’s News-Herald’s multiple requests for comment for this story, but he told the News-Herald last month he has had difficulty finding a job in Lake Havasu City. State legislators are paid $24,000 per year with a per diem allowance.

Last week, Mosley gained nationwide attention after a video surfaced showing him being pulled over in his Lexus LS 400 by a La Paz County Sheriff’s deputy. In the video, Mosley apparently brags to the deputy about driving up to 140 miles per hour, and allegedly claimed legislative immunity to avoid