Investors Accuse FSC Securities Of Fraudulent REITS Sales
Frank Briseno III of Metairie Louisiana a stockbroker and investment adviser representative currently registered with FSC Securities Corporation is the subject of a customer initiated investment related written complaint on May 6, 2020 in which the customer requested more than $100,000.00 in damages based upon allegations that the customer was provided bad investment advice from Briseno as it pertained to non-traded real estate investment trusts and variable annuities sold to the customer during the time that Briseno was associated with FSC Securities Corporation.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Briseno has been identified in two additional customer initiated investment related disputes concerning accusations of his misconduct while employed by FSC Securities Corporation. On June 2, 2017, a customer filed an investment related complaint concerning Briseno’s activities where the customer sought unspecified damages founded on accusations that misrepresentations were made by Briseno concerning alternative investments. According to the claim, inaccurate representations were made with respect to non-traded real estate investment trusts and valuations. The claim also alleges poor performance on investments including money market funds, equities, annuities and corporate debt products.
On July 24, 2019, a customer filed an investment related arbitration claim pertaining to Briseno’s conduct in which the customer requested damages estimated to exceed $5,000.00 supported by allegations that real estate securities and variable annuities recommendations failed to be suitable for the FSC Securities Corporation customer. FINRA Arbitration No. 19-02029.
Briseno has been associated with FSC Securities Corporation since January 7, 2004.