Former Clients of Wiliiam 'Bill' Carlton Should Seek Account Reviews After Pleading Guilty to Securities Fraud

William Carlton pleads guilty to securities fraud. Kurta Law has recovered millions for victims. Former clients can request a free case evaluation.

SEATTLE, WA, UNITED STATES, October 7, 2026 /EINPresswire.com/ -- FOR IMMEDIATE RELEASE

William “Bill” Carlton Pleads Guilty to Securities Fraud; Kurta Law Reviewing Potential Investor Claims

Kurta Law is reviewing potential claims involving former clients of investment adviser William “Bill” Carlton following Carlton’s September 17, 2026 guilty plea to securities fraud in United States v. William Carlton, 26 Cr. 429.

According to a September 17, 2026 announcement issued by the U.S. Department of Justice, Carlton pleaded guilty to securities fraud in connection with a scheme involving the allocation of securities trades among accounts he managed.

Kurta Law represents former Carlton clients in matters concerning their investment accounts. Former clients of Carlton, including investors who maintained accounts associated with Carlton Wealth Management, First Allied, or Cetera, may contact the firm for an evaluation of their account history and any potential legal claims.

Carlton’s Guilty Plea

According to the U.S. Department of Justice’s September 17, 2026 announcement, Carlton admitted that, between approximately January 2015 and August 2022, he engaged in a scheme involving the allocation of securities trades among accounts he managed.

The Justice Department stated that Carlton placed trades without initially identifying the account for which the securities were being purchased and subsequently allocated certain trades after observing their performance during the trading day.

According to the Justice Department, approximately 70% of the trades Carlton allocated to his own accounts experienced same-day gains, compared with approximately 16% of the trades allocated to client accounts. The Department further stated that Carlton obtained approximately $6 million in gains through the conduct described in the criminal case.

Carlton pleaded guilty to securities fraud on September 17, 2026. According to the Justice Department’s announcement, sentencing is scheduled for January 27, 2027.

“The guilty plea and the information released by the Department of Justice provide additional information concerning trading activity during the period addressed in the criminal proceeding,” said Jonathan Kurta, founding partner of Kurta Law. “Our firm is reviewing account records for former Carlton clients who have asked us to evaluate their account activity and determine whether they may have potential legal claims.”

SEC Proceedings Involving First Allied and Cetera

Carlton’s conduct was also addressed in a September 27, 2024 Securities and Exchange Commission order concerning First Allied Advisory Services, Inc. and Cetera Investment Advisers LLC.

According to the SEC’s order, the Commission found that First Allied and Cetera failed reasonably to supervise Carlton with a view toward preventing and detecting violations of the federal securities laws. The SEC also made findings concerning the firms’ policies and procedures relating to trade allocation.

First Allied and Cetera resolved the SEC proceeding without admitting or denying the Commission’s findings.

The SEC proceeding and Carlton’s criminal case are separate proceedings involving different legal standards and issues. Whether an individual investor may have a legal claim depends upon the facts and circumstances of the investor’s account, including applicable account documents, transaction history, agreements, and other relevant information.

Kurta Law is reviewing potential claims involving former Carlton clients, including whether any claims may be eligible for resolution through FINRA arbitration or another applicable forum.

Account Reviews for Former Carlton Clients

Former Carlton clients who wish to have their account activity reviewed may provide Kurta Law with their available account records for an initial evaluation.

An evaluation may include a review of account statements, trade confirmations, transaction histories, and other available records. Investment losses or underperformance, standing alone, do not establish that an account was subject to the conduct addressed in the DOJ or SEC proceedings.

Former clients are not required to determine whether any particular transactions relate to the conduct described in those proceedings before requesting an evaluation.

Individuals who invested through William Carlton, Bill Carlton, or Carlton Wealth Management may contact Kurta Law at 877-600-0098, email info@kurtalawfirm.com, or visit kurtalawfirm.com/contact to request a free case evaluation.

About Kurta Law

Kurta Law represents investors in securities disputes, including matters involving brokerage and investment-adviser disputes and FINRA arbitration. The firm has represented former clients of William Carlton in matters concerning their investment accounts.

Prior results do not guarantee a similar outcome. Each matter depends upon its particular facts and circumstances. Contacting Kurta Law does not create an attorney-client relationship.

Media Contact

Jonathan Kurta, Founding Partner
Kurta Law
295 Madison Avenue, Suite 705
New York, NY 10017
877-600-0098
info@kurtalawfirm.com

Sources: U.S. Department of Justice announcement concerning William Carlton’s September 17, 2026 guilty plea; United States v. William Carlton, 26 Cr. 429; Securities and Exchange Commission order dated September 27, 2024.

Jonathan Kurta
Kurta Law
+1 877-600-0098