Just to follow up, I had a client that requested to be able to raise money for a chain of hamburgers restaurants with a former NFL coach who was revered here in St. Louis and was friends with my client. which the B/D signed off on and he was a good producer. Someone complained broker got license revoked by Finra and the B/D turned on the producer and cut and ran. Producer hired excellent attorney but to no avail and my client was done.
Best advise your client needs to find an attorney who specializes in this and hopefully he will have a good outcome.