An East Texas couple whose money was misappropriated by Brent Lemons for his own personal benefit has been awarded a settlement of $1.3 million dollars today.
The money was awarded to Tammy and Cindy Mays by a panel of arbitrators for the Financial Industry Regulatory Authority. The arbitration panel found that Lemons had comitted fraud against the Mays, breached his financial responsibilities to them, violated security fraud laws, and invested the Mays' money in risky investments without any knowledge from the Mays.
Brent Steven Lemons is a former stockbroker for A.G. Edwards and Sons, Inc., and also worked at the Bank of America in Tyler, Texas. Bryan Forman of the Forman Law Firm in Tyler represented the Mays.