Houma retirees suing Raymond James brokers for $10 million over investment losses | Business News

June Butler, a retired librarian, said it isn’t just the loss of $125,000 from her retirement nest egg that troubles her. It’s also the sense that she and her family were betrayed by someone she considered a trusted confidant.

She’s one of 20 retirees from the Houma area suing national brokerage chain Raymond James Financial Inc. and two of its local brokers, Dixon Lewis and Colin Seibert, for allegedly putting them in wildly unsuitable investments without consulting them, and “churning” their accounts to generate high fees for the brokers at the expense of the clients’ savings.

Lewis was a long-time

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