Goodbred has repaid the client a total of $454,141 of the $1.3 million loot, the SEC said. He repaid $306,665 between 2013 and 2014 and $147,476 in March, the SEC said. LPL, the SEC said, settled an arbitration case brought by the trustee successor in August for the balance of the funds Goodbred’s stole from the client.
Goodbred began working in the industry in 1999 with Banc One Securities Corporation; he left the industry after a year and returned in 2009 with LPL.
The SEC's complaint charges Goodbred with violating the Securities Act of 1933, the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940. The commission seeks injunctive relief, disgorgement, prejudgment interest, and civil penalties.