Kurta Law Advises Former Clients of William Carlton to Seek Account Reviews

SEATTLE, WA, UNITED STATES, October 7, 2026 /CourierPR/ -- Kurta Law, a law firm that represents investors in securities disputes, is advising former clients of William “Bill” Carlton to seek account reviews after the former investment adviser pleaded guilty to securities fraud. According to the U.S. Department of Justice, Carlton admitted to engaging in a scheme involving the allocation of securities trades among accounts he managed between approximately January 2015 and August 2022.

Carlton’s guilty plea, entered on September 17, 2026, in United States v. William Carlton, 26 Cr. 429, was part of a broader investigation. 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. 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. Through this conduct, Carlton obtained approximately $6 million in gains.

Kurta Law, which represents former Carlton clients in matters concerning their investment accounts, is now reviewing account records for individuals who invested through William Carlton, Bill Carlton, or Carlton Wealth Management. The firm encourages former clients to contact them for a free case evaluation.

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

In a related development, the Securities and Exchange Commission (SEC) addressed Carlton’s conduct in a September 27, 2024 order concerning First Allied Advisory Services, Inc. and Cetera Investment Advisers LLC. The SEC 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.

Kurta Law is urging former Carlton clients to provide the firm 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.

The firm’s legal disclaimer states that prior results do not guarantee a similar outcome. Each matter depends upon its particular facts and circumstances.