Charles Scott Burford

(CRD #1658201, Dallas, Texas)

July 20, 2026 – A judgment of the U.S. Court of Appeals for the Fifth Circuit became final after a formal mandate was issued in accordance with the court’s judgment issued April 28, 2026. The judgment denied Burford’s petition for review. Burford was fined $10,000 and suspended from association with any FINRA member in all capacities for six months for effecting unauthorized transactions in his deceased customer’s account. The sanctions were based on the findings that when the customer died, Burford did not immediately notify his member firm or deem the customer’s account “frozen,” as the firm’s policies required.

Instead, over the next fourteen months, Burford (without informing his firm) executed five trades in the customer’s brokerage account and facilitated three transfers from the account to the customer’s widow, who asked Burford to execute these transactions. Subsequently, Burford submitted the customer’s death certificate to his firm so that the widow could take the required minimum distribution from the customer’s retirement account by year’s end. Burford admitted during his disciplinary hearing that he had “likely” waited fourteen months to submit the death certificate because he did not want the firm to discover his transactions in the customer’s brokerage account.

Burford also continued to execute trades in the customer’s brokerage account and to facilitate transfers to the widow from that account. In all, Burford, at the widow’s request, executed nine trades totaling nearly $130,000 and facilitated eight withdrawals totaling nearly $85,000. After learning that the customer’s daughter intended to contest the will, Burford asked his firm to freeze the customer’s brokerage account. However, Burford did not notify the firm about the transactions he had already made in the account. Burford informed the firm about his transactions in the account after the daughter’s attorney informed him that she had challenged the will in Texas probate court and warned him that the firm could be liable for the distributions from the customer’s brokerage account.

The suspension is in effect from July 21, 2026, through January 20, 2027. (FINRA Case #2019064656601)

If you have suffered losses as a result of Charles Scott Burford’s act and/or actions, we would like to hear from you. We are currently investigating claims on behalf of clients who have suffered significant losses in their portfolios that are managed by Charles Scott Burford The Schwartz Law Firm represents investors in claims against financial advisors and their firms. If you have questions about your potential claim or need assistance from an investment fraud lawyer, please contact us at 866-330-6707 or email Matthew Schwartz directly at mschwartz@tslfirm.com.