Timothy Augustin: $2.4 Million Complaint Against Former Western International Broker

Pending investor complaints against former Western International Securities broker and investment advisor Timothy Augustin (CRD# 5283043) allege conduct including fraud, suitability violations, sales of unregistered securities, negligence, and more. One such complaint alleges damages of more than $2.4 million. The former Washington, DC-based representative is currently not registered as a broker, according to information drawn from Financial Industry Regulatory Authority records.

Timothy Augustin allegedly offered and sold unregistered securities, recommended unsuitable promissory note investments, made false representations and omissions of facts, engaged in fraud, and violated his fiduciary duty to act in the customer’s best interests, according to a pending 2019 complaint concerning his conduct as a representative of Western International Securities. The complaint alleges damages of $427,538.

Timothy Augustin allegedly committed fraud, violated his fiduciary duty, and recommended unsuitable investments in exchange-traded fund and promissory note products, according to a pending 2019 complaining regarding his employment at Western International Securities. The complaint alleges damages between $100,000.01 and $500,000.

Timothy Augustin allegedly engaged in fraud, committed violations of his fiduciary duty, and advised his customer to invest in unsuitable products, including a promissory note and an exchange-traded fund, according to a 2019 complaint concerning his conduct at Western International Securities. The complaint alleges damages between $100,000.01 and $500,000.

A pending 2018 complaint alleges Mr. Augustin breached his fiduciary duty, engaged in fraud, recommended unsuitable investments, and made misrepresentations and omissions regarding the investments he recommended, as part of his conduct as a representative of Western International Securities. The complaint alleges damages of $150,000.

A pending 2019 complaint alleges breaches of fiduciary duty, fraud, unsuitable recommendations, and misrepresentations and omissions of material facts made while Mr. Augustin was a representative of Western International Securities. The complaint alleges damages of $2,444,388.

Another pending 2018 complaint alleges that while a representative of Western International Securities, he violated his fiduciary duty, engaged in fraud, recommended an unsuitable promissory note product, and made false representations and omissions. The complaint alleges damages of $250,000.

A 2015 complaint alleged that as a representative of Western International Securities, he advised the customer to invest in unsuitable common and preferred stock. The complaint reached a settlement of $137,500.

Timothy Augustin is not currently registered as a broker or investment adviser. His employment history includes Western International Securities and Royal Alliance Associates. He currently holds no state licenses and has passed four securities industry qualification examinations. (Information current as of August 9, 2019.)