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Accused Killer of 16 Afghans, Is An Ex-Broker With Checkered Past
March 20, 2012
[ by Melanie Gretchen ]
Army Staff Sergeant Robert Bales - the Washington state family man who is suspected of killing at least 16 civilians in Afghanistan, while serving on his 4th tour of duty region, worked as a registered broker and left after defrauding his customers.
Bales bailed out (disappeared) after he was ordered by an arbitrator to pay more than $1.3 million in damages to a Caroll, Ohio, couple, who had asked him to sell their stocks.
FINRA Findings and Allegations. While at Quantum Securities Corporation in Westerville, OH, Robert Bales defrauded Gary Liebschner and his wife of more than $600,000 when they asked him to sell some stock to cover medical bills in 2000 - they claimed $852,000 in damages.
The panel of arbitrators ruled in favor of the claimants, Mr. & Mrs. Liebschner, on grounds that Bales "engaged in fraud, breach of fiduciary duty, churning, unauthorized trading and unsuitable investments." The arbitrators awarded the Liebschners a total of $1,274,000 - $$637,000 as compensatory damages, and $637,000 as punitive damages.
Thereafter, following the September 11 attacks, Bales joined the Army - according to an Army statement.
In an interview with WCPO TV, the ABC affiliate in Cincinnati, Mr. Liebschner said Bales never paid the money and the couple could never find him. Bales had been in the industry since 1996. Prior to working at Quantum, he had worked at Capital Securities of America and Michael Patterson, both in Ohio, having qualified for a Series 7 and Series 63 license in 1996 and 1997 respectively.
U.S. Military Court. Currently, Bales, 38, is suspected of killing at least 16 civilians in Afghanistan on 3/11/12. Going forward, he may face formal charges in U.S. military court as soon as this week, his lawyer, John Henry Browne, told Bloomberg yesterday. In addition, Mr. Browne said U.S. military charges against Bales may bring a review of U.S. strategy in the Mideast conflict and its effect on soldiers.
Meanwhile, the Liebschners are still out $1.3 million.
For further details, go to [Bloomberg, 3/20/12].

