Non-traded REITs

Archive | Non-traded REITs

Investors Accuse Kovack Of Mutual Fund Misconduct

Jeffrey Paul Davis of Bristol Connecticut a stockbroker currently registered with Kovack Securities Inc. is the subject of a customer initiated investment related written complaint on June 10, 2019 in which the customer requested more than $5,000.00 in damages based upon accusations that (1) the customer was placed into inappropriate investments including mutual funds and […]

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Infinex Sued By Investors For Bad REIT Recommendations

Tamara Ann Dawson (also known as Tamara Gallegos and as Tamara Haselby) of Boynton Beach Florida a stockbroker formerly registered with Infinex Investments Inc. is the subject of a customer initiated investment related arbitration claim which was settled to resolve allegations that she made unsuitable real estate investment trust recommendations to her customers during the […]

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Regulator Sanctions Stockbroker For REIT Misconduct

October 18, 2019  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Satya Brata Shaw (also known as Satyabrata Shaw) of Wesley Chapel Florida a stockbroker formerly registered with Center Street Securities has been issued an Order by Florida Office of Financial Regulation in which he was fined and required to cease and desist from engaging in conduct violative of Florida securities laws and administrative rules supported […]

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Primex Sued By Investors For Unsuitable REITs

Wilfredo Felix Jr. of New York New York the President and Chief Executive Officer of Primex is the subject of a customer initiated investment related arbitration claim where the customer sought unspecified damages founded on accusations that the customer had been placed into UpREIT – a real estate security which was not appropriate or suitable. […]

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More Defective REIT Cases Pile Up Against Berthel Fisher

William Charles Sines (also known as Bill Sines) of Seminole Florida a stockbroker currently registered with Berthel Fisher Company Financial Services Inc. is the subject of a customer initiated investment related complaint on July 23, 2019 in which the customer sought $38,651.89 in damages founded on allegations that unsuitable investment recommendations and high pressure sales […]

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Merrill Lynch Sued By Investors For Misrepresentation

Richard Bruce Sladek (also known as Dick Sladek) of Coeur D’Alene Idaho a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith incorporated is referenced in a customer initiated investment related arbitration claim where the customer requested unspecified damages founded on accusations of false or misleading statements in regard to real estate securities or investments […]

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National Securities Corp Sued For Breach Of Fiduciary Duty

James J. Mariani of Mineola New York a stockbroker formerly registered with National Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer sought $467,000.00 in damages supported by accusations that (1) fiduciary duties failed to be complied with and (2) real estate security transactions executed in the customer’s […]

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Geneos Sued By Investors For Defective REIT Recommendations

Joseph Sylvester Sturniolo (also known as Joe Sturniolo) a stockbroker currently registered with Geneos Wealth Management Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $237,500.00 in damages based upon accusations that the customer had been provided bad investment advice from Sturniolo with regard to investments including multiple non-traded […]

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Voya Sued By Investors For Bad Alternative Investments

James Travis Flynn of Greenville South Carolina a stockbroker formerly registered with Voya Financial Advisors Inc. is the subject of a customer initiated investment related complaint on August 26, 2019 in which the customers requested damages estimated to exceed $5,000.00 supported by allegations that (1) real estate security and direct investments failed to comport with […]

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Investors Accuse Woodbury Of Bad Alternative Investments

Daniel John Dunn a stockbroker currently employed by Woodbury Financial Services is referenced in a customer initiated investment related complaint on March 29, 2019 in which the customer sought more than $5,000.00 in damages supported by allegations that the customer was provided poor investment advice concerning real estate security and equipment leasing interests sold by […]

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Securities America Stockbroker Barred For Obstruction

October 14, 2019  |   Posted by :   |   Customer Loans, Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Jaime Michael Westenbarger of Grand Rapids Michigan a stockbroker formerly registered with Securities America Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Westenbarger failed to comply with FINRA during an investigation into accusations of him borrowing funds from customers of Securities America. […]

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Investors Accuse Berthel Fisher Of Fraud

Steve Jeffrey Cummings of Fort Deposit Alabama a stockbroker formerly employed by Berthel Fisher Company Financial Services Inc. is the subject of a customer initiated investment related complaint on July 30, 2019 where the customers requested more than $5,000.00 in damages based upon allegations that (1) false or misleading statements had been made by the […]

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Independent Financial Group Sued For Misrepresentation

Shawn Bruce Davis of Auburn California a stockbroker formerly employed by Independent Financial Group LLC is the subject of a customer initiated investment related civil action brought in the Superior Court of the State of California in which the customer requested unspecified damages founded on accusations that (1) false or misleading statements had been made […]

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Investors Accuse Next Financial Of Providing Bad Investment Advice

Stephen Joe Williams of Madison Alabama a stockbroker currently registered with Next Financial Group is the subject of a customer initiated investment related written complaint which was resolved for $24,000.00 on November 2, 2018 supported by accusations that the customer was sold illiquid and inappropriate real estate securities that have since become worthless. Financial Industry […]

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David A. Noyes Sued Over Alternative Investments

Scott Lindsay Reed of Indianapolis Indiana a stockbroker registered with David A. Noyes Company is referenced in a customer initiated investment related arbitration claim which was settled for $395,000.00 in damages supported by allegations that (1) false or misleading statements and omissions had been made to the customers concerning the terms of non-traded real estate […]

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FINRA Fines Morgan Stanley Stockbroker For Settling Away

Eric Nichols of Rolling Hills California a stockbroker formerly employed by Morgan Stanley has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Nichols resolved a customer’s investment related dispute outside the firm’s auspices. Letter of Acceptance Waiver and Consent […]

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Kalos Sued By Investor For Bad Investment Recommendations

Daniel Ray Saur of Dallas Texas a stockbroker currently registered with Kalos Capital Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $60,000.00 in damages founded on accusations that (1) investment recommendations concerning real estate security and oil and gas products failed to be suitable for the customer and […]

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Investors Sue Madison Avenue Securities For Fraud

Noel Ray Vincent of Southfield Michigan a stockbroker formerly registered with Madison Avenue Securities LLC is the subject of a customer initiated investment related arbitration claim where the customer sought between $100,000.00 and $500,000.00 in damages based upon allegations that (1) the customer’s assets were handled in a negligent manner (2) fiduciary duties were breached […]

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Investors Accuse Capital Financial Of Misrepresentation

Teresa Marie O’Clair of Bismarck North Dakota a stockbroker formerly employed by Capital Financial Services Inc. is referenced in a customer initiated investment related written complaint on June 1, 2017 where the customer sought damages estimated to exceed $5,000.00 based upon accusations that false or misleading statements had been made to the customer concerning the […]

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Investors Accuse L.M. Kohn Of Unauthorized Trading

Charles John Ehnot of Dunmore Pennsylvania a stockbroker formerly registered with L.H. Kohn Company is the subject of a customer initiated investment related complaint that was settled for $20,000.00 in damages on April 5, 2017 based upon accusations that unauthorized real estate security transactions were effected in the customer’s account during the time that Ehnot […]

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Prospera Financial Sued For Real Estate Investment Trust Misconduct

Andrew James Pravlik of Pittsburgh Pennsylvania a stockbroker formerly employed by Prospera Financial Services Inc. is the subject of a customer initiated investment related civil action brought in the Court of Common Pleas of Allegheny County Pennsylvania where the customer sought $175,000.00 in damages supported by allegations that while Pravlik was registered with Prospera Financial […]

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J.P. Morgan Discharges Stockbroker Over Account Distributions

Jesse Starr of San Diego California a stockbroker formerly employed by J.P. Morgan Securities LLC has been discharged by the firm on December 13, 2018 based upon allegations that Starr informed a customer of the firm that J.P. Morgan Securities LLC was liable to the customer for the failure of required distributions from being executed […]

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Ausdal Fires Stockbroker For Selling Away

David Richard Geake of Northbrook Illinois a stockbroker formerly employed by Ausdal Financial Partners has been discharged by the firm on September 14, 2018 supported by allegations that Geake engaged in private securities transactions or selling away without disclosing them to the firm and obtaining the firm’s permission beforehand. Financial Industry Regulatory Authority (FINRA) Public […]

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Independent Financial Group Accused Of Misconduct In Connection With The Sale of REITs

Theodore Hendrickus Franse of Fair Oaks California a stockbroker formerly employed by Independent Financial Group LLC is referenced in a customer initiated investment related written complaint which was settled on August 9, 2018 to resolve accusations of the customer being sold unsuitable real estate investment trust products while Franse was associated with Independent Financial Group […]

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Berthel Fisher Company Sued For BDC Misconduct

Jonathan Todd Pyne (also known as Jon Pyne) of Minneapolis Minnesota a stockbroker currently registered with Berthel Fischer Company Financial Services Inc. is the subject of a customer initiated investment related arbitration claim which settled for $9,500.00 in damages based upon accusations that between 2007 and 2015: (1) false or misleading statements had been made […]

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Securities America Sued By Investors For Fraud

Giustino DeStefano (also known as Justin DeStefano) of Williamsville New York a stockbroker formerly registered with Securities America Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $1,000,000.00 in damages supported by allegations of (1) violation of FINRA Rules and federal securities laws (2) overconcentration of the customer’s […]

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Investors Sue SagePoint Financial For Breach Of Fiduciary Duty

Dean Thomas Nicholson of Summerfield Florida a stockbroker formerly registered with SagePoint Financial Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $30,000.00 in damages founded on allegations that (1) SagePoint Financial failed to supervise the transactions placed in the customer’s account (2) the customer’s investment related contract had […]

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Investors Accuse NEXT Financial Of Unsuitable REIT Recommendations

Charles Chester Kulch of Nashua New Hampshire a stockbroker currently employed by Next Financial Group Inc. is the subject of a customer initiated investment related written complaint on August 11, 2017 in which the customer requested $150,000.00 in damages based upon allegations that the customer was inappropriately advised by Kulch in regard to real estate […]

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Cetera Stockbroker Barred By FINRA In Investigation

Nina Sue Jessee (also known as Nina Campbell Jessee) of Abington Virginia a stockbroker formerly employed by Cetera Advisors LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Jessee neglected to comply with FINRA during its investigation into accusations of (1) […]

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FINRA Bars First Allied Stockbroker For Ignoring Inquiry

Gregory Alan Levine (also known as Greg Alan Levine) of Fort Lauderdale Florida a stockbroker formerly employed by First Allied Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Levine neglected to respond to an inquiry that FINRA made regarding his activities possibly […]

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H. Beck Inc. Sued By Investors For Bad REIT Recommendations

Richard Eric Poston (Rick Eric Poston) of Plano Texas a stockbroker formerly employed by H. Beck Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $25,000.00 in damages supported by accusations that while Poston was associated with H. Beck Inc. (1) Poston gave the customer bad investment advice […]

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Investor Sues Madison Avenue For Inappropriate REIT Recommendations

James Andrew Geake (also known as Jim Geake) of Skokie Illinois and Schaumburg Illinois a stockbroker currently employed by Madison Avenue Securities LLC is referenced in a customer initiated investment related arbitration claim which was settled for $12,500.00 in damages founded on allegations that the customer suffered unwarranted losses on alternative investments including real estate […]

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Investors Capital Corp Sued By Investors For REIT Misconduct

Donnie Eugene Ingram of Winter Haven Florida a stockbroker associated with Cetera Advisors LLC and Investors Capital Corp. is referenced in a customer initiated investment related arbitration claim which was resolved for $23,000.00 in damages founded on accusations that Ingram executed unsuitable corporate debt and real estate investment trust trades in the customer’s account. Financial […]

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Investors Sue SII Investments For Fraud In Connection With The Sale Of REITs

Jason Bradley Scarcella of Bartlesville Oklahoma a stockbroker formerly registered with SII Investments Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $35,000.00 in damages supported by accusations that Scarcella made false or misleading statements to the customer concerning the income and safety of real estate investment trust […]

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GF Investment Services Accused Of Selling Unregistered Securities

Christopher Grant Conness of Fort Lauderdale Florida a stockbroker formerly employed by G.F. Investment Services LLC is the subject of a customer initiated investment related written complaint on May 16, 2018 in which the customer requested $100,001.00 in damages founded on allegations that Conness and GF Investment Services LLC permitted or otherwise failed to prevent […]

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Investors Capital Blamed For Real Estate Securities Misconduct

Nina Sue Jessee (also known as Nina Campbell Jessee) of Abingdon Virginia a stockbroker formerly employed by Investors Capital Corp. is the subject of a customer initiated investment related written complaint which was resolved for $20,000.00 on February 13, 2019 based upon accusations that the customer was placed in real estate securities which were inappropriate […]

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Money Concepts Accused By Investors Of Fraud

Ray Gene Reese of Farmington Missouri a stockbroker formerly registered with Money Concepts Capital Corp is the subject of a customer initiated investment related complaint on May 8, 2018 where the customer requested $75,000.00 in damages based upon allegations of misrepresentations being made to the customer concerning the liquidity of a real estate security sold […]

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Investors Sue Sigma Financial For Fraud

Richard Marvin Muhlberg of Cherry Hill New Jersey a stockbroker formerly employed by Sigma Financial Corporation and Sigma Planning Corporation is referenced in a customer initiated investment related arbitration claim where the customer was awarded $17,900.00 in compensatory damages based upon Muhlberg being found liable on the customer’s claims that (1) real estate investment trust […]

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Centaurus Financial Sued By Investors For REIT Misconduct

Bryon Edwin Martinsen of Kings Park New York a stockbroker currently employed by Centaurus Financial Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $127,000.00 in damages based upon accusations that Martinsen gave the customer bad advice concerning real estate securities held in the customer’s investment portfolio between […]

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Wilbanks Securities Sued For Failure To Disclose REIT Risks

Randall Lee Wilbanks of Oklahoma City Oklahoma a former executive of Wilbanks Securities Inc. has been named in a customer initiated investment related arbitration claim in which the customer sought $290,000.00 in damages based upon accusations that Wilbanks was responsible for (1) making omissions or misrepresentations concerning the risks pertaining to real estate security and […]

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Cambridge Investment Research Blamed For Unsuitable Sale of REITs

March 07, 2019  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Jared Bryce Roskelley of Scottsdale Arizona a stockbroker formerly employed by Cambridge Investment Research Inc. is referenced in a customer initiated investment related written complaint on July 28, 2017 where the customer sought $40,000.00 in damages based upon allegations that the customer was inappropriately placed in the Phillips Edison Real Estate Investment Trust – a […]

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Investors Sue Investors Capital For Bad REIT Recommendations

Roberto Alexandro Blanco of El Paso Texas a stockbroker formerly employed by Investors Capital Corporation is the subject of a customer initiated investment related written complaint which settled for $43,000.00 in damages on February 2, 2018 based upon accusations that (1) Blanco placed the customer in real estate security investments that were not appropriate for […]

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VSR Sued By Investors For Breach Of Fiduciary Duty

Steven Hugh Murphy of Simi Valley California a stockbroker formerly registered with VSR Financial Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought damages estimated to exceed $5,000.00 based upon accusations that (1) the customer was a victim of elder abuse (2) transactions were effected in violation of […]

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Berthel Fisher Sued By Investors For REIT Fraud

Joshua Eugene Stroud of Springfield Oregon a stockbroker formerly employed by Berthel Fisher Company Financial Services Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $22,500.00 in damages supported by allegations that (1) Stroud made misrepresentations to the customer concerning business development company and real estate security investments […]

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Investors Accuse Ameriprise Of REIT Misrepresentations

Dana Harold Nelson of Ann Arbor Michigan a stockbroker currently registered with Ameriprise Financial Services Inc. is referenced in a customer initiated investment related written complaint on July 11, 2016 in which the customer requested $38,858.76 in damages supported by accusations that the customer’s purchase of Inland American Real Estate Investment Trust was not appropriate […]

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National Securities Sued For Breach Of Fiduciary Duty

Michael Fasciglione of Mineola New York a stockbroker formerly employed by National Securities Corporation is referenced in a customer initiated investment related arbitration claim which was settled for $467,000.00 in damages supported by allegations that (1) fiduciary duties owed to the customer had been breached and (2) real estate security transactions effected in the customer’s […]

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LPL Financial Broker Blamed For Forging REIT Disclosures

February 20, 2019  |   Posted by :   |   Forgery, Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Diane Marie Knight of Chico California a stockbroker formerly employed by LPL Financial LLC is referenced in a customer initiated investment related written complaint on January 26, 2017 where the customer sought $50,000.00 in damages supported by accusations that while Knight was associated with LPL Financial LLC unauthorized parties signed documents to effect real estate […]

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Investors Sue Ameriprise For REIT Sales

Carroll Thomas Clark Jr. (also known as Tom Clark) of Miami Florida a stockbroker formerly employed by Ameriprise Financial Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $75,000.00 in damages supported by accusations that (1) investment recommendations concerning real estate securities were not suitable for the customer […]

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Investors Sue LPL Financial For REIT Misconduct

Jordan John Boyle of Saratoga Springs Utah a stockbroker formerly employed by LPL Financial LLC is the subject of a customer initiated investment related written complaint on January 23, 2019 in which the customer requested $10,000.00 in damages founded on accusations that between September 10, 2014 and January 18, 2019, the customer was provided unsuitable […]

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H. Beck Sued By Investors REIT Misconduct

William Charles Schumann of Wheaton Illinois a stockbroker currently employed by H. Beck Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $63,000.00 in damages based upon accusations that Schumann made poor investment recommendations to the customer concerning mutual funds as well as a variable annuity and non-traded real […]

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Sigma Financial Sued For Failure To Conduct Due Diligence

Harvey Allan Kaluzna of Northbrook Illinois a stockbroker currently employed by Sigma Financial Corporation is the subject of a customer initiated investment related arbitration claim which was settled for $28,000.00 in damages based upon accusations that (1) misrepresentations had been made to the customer concerning unit investment trust and real estate security investments held in […]

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Regulator Seeks Denial Of LPL Financial Broker Registration

David Philip Antypas of Brentwood Tennessee a stockbroker formerly registered with LPL Financial LLC is the subject of a Tennessee Department of Commerce and Insurance Securities Division disciplinary action where the regulator is seeking the denial of Antypas’ securities registration based upon accusations that (1) during the time Antypas was associated with LPL Financial LLC […]

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Investors Sue VSR Financial For Failure to Conduct Due Diligence

Scott Vincent Kaup of Stuart Nebraska a stockbroker formerly registered with VSR Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $2,600,000.00 in damages founded on allegations that (1) misrepresentations and omissions had been made to the customer concerning investments (2) real estate security and direct […]

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Investors Sue Newbridge Securities Corporation For Fraud

Sebastian George Bongiovanni of Staten Island a stockbroker currently employed by Newbridge Securities Corporation is referenced in a customer initiated investment related arbitration claim which was resolved for $91,000.00 in damages supported by accusations that (1) investment recommendations made to the customer were not suitable (2) unauthorized trades were executed in the customer’s account (3) […]

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Ameriprise Blamed For Stockbroker Misrepresentation

January 03, 2019  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Kenneth Allan Franklin of Aliso Viejo California a stockbroker currently employed by Ameriprise Financial Services Inc. is the subject of a customer initiated investment related complaint in which the customer requested $8,008.62 in damages based upon accusations that Franklin misrepresented the liquidity of the customer’s real estate investment trust holdings. Financial Industry Regulatory Authority (FINRA) […]

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Investors Sue Concorde Investments For Bad REITs

Richard Anthony Rodriguez Jr, of Fruitland Park Florida a stockbroker currently employed by Concorde Investment Services LLC is the subject of a customer initiated investment related complaint in which the customer requested $200,000.00 in damages supported by allegations that Rodriguez failed to inform the customer about the risks and features of non-traded real estate investment […]

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Investor Accuses NBC Securities Of Bad REIT Investments

Joseph Edward Disanza of Massapequa New York a stockbroker currently employed by NBC Securities Inc. is the subject of a customer initiated investment related complaint on June 19, 2017 in which the customer sought $25,000.00 in damages founded on accusations that Disanza placed the customer in unsuitable stock and real estate investment trust products which […]

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Investors Continue To Collect From Berthel Fisher For Private Placement Fraud

Ricky Steven Geislinger of Watkins Minnesota a stockbroker formerly employed by Berthel Fisher Company Financial Services Inc. is referenced in a customer initiated investment related arbitration claim which settled for $75,000.00 in damages supported by allegations that (1) Geislinger made misrepresentations to the customer concerning the terms and conditions of the investments selected for the […]

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Berthel Fisher Sued By Investor For Bad REIT Investments

Joe Bryan Hall of Berthel Fisher Company Financial Services is the subject of a customer initiated investment related arbitration claim in which the customer requested at least $5,000.00 in damages based upon allegations that the customer was placed in a real estate investment that was not appropriate for the customer given the customer’s objectives for […]

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ProEquities Sued By Investors For Fraud

Bradley John Freimark of Otsego Minnesota a stockbroker formerly registered with ProEquities Inc. is the subject of a customer initiated investment related arbitration claim which settled for $100,000.00 in damages founded on accusations that (1) misrepresentations were made to the customer and (2) the customer’s assets were inappropriately invested in D&L Energy 2010 Ltd. – […]

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National Planning Sued For Breach Of Fiduciary Duty

John Edward Moriarty of Crystal City Missouri a stockbroker formerly employed by National Planning Corporation is referenced in a customer initiated investment related arbitration claim which was resolved for $9,999.00 in damages supported by accusations that (1) fiduciary duties owed to the customer had been breached (2) transactions were placed in the customer’s account that […]

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Lincoln Investment Accused Of Falsifying Information

Delores Jean Yezbak of Cleveland Ohio a stockbroker formerly registered with Lincoln Investment is referenced in a customer initiated investment related written complaint on June 15, 2017 in which the customer sought $70,000.00 in damages supported by allegations that (1) the customer’s account documentation contained false statements in regard to the customer’s income and net […]

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FINRA Bars Capital Financial Broker For Failure To Comply

Lloyd Mark Johnston of Spokane Washington a stockbroker formerly registered with Capital Financial Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that he failed to provide FINRA with information that had been requested of him. Case No. 2018057318201 (Sept. 4, 2018). According […]

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Investors Accuse Cetera Of Misrepresentation

David Lee of Flushing New York a stockbroker formerly registered with Cetera Investment Services LLC is referenced in a customer initiated investment related complaint on September 12, 2018 in which the customer requested $15,000.00 in damages based upon accusations that (1) unwarranted investment losses were incurred by the customer on real estate security investments and […]

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Investors Sue Ameriprise Financial For Bad Advice

Ronald Dewayne Smith Jr. of Austin Texas a stockbroker formerly employed by Ameriprise Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $136,239.00 in damages based upon allegations that Smith poorly advised the customer concerning CNL Lifestyle Properties Real Estate Investment Trust. Financial Industry Regulatory Authority […]

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William H. Murphy Co. Fined For Failure To Supervise

William H. Murphy Co. Inc. a broker-dealer headquartered in Houston Texas and William H. Murphy (president and chief compliance officer) are subject of a National Adjudicatory Council Decision which affirmed FINRA’s Extended Hearing Panel’s findings that the firm effected unregistered and non-exempt securities transactions and failed to supervise the firm’s business practices to ensure compliance […]

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Investors Sue FSC Securities For Bad REIT Sales

Larry Jefferson Tolbert of Memphis Tennessee a stockbroker formerly registered with FSC Securities Corporation is the subject of a customer initiated investment related arbitration claim which was resolved for $45,000.00 in damages founded on allegations that Tolbert put the customer in real estate investment trust products despite those securities having been inappropriate for the customer’s […]

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LPL Financial Sued By Investor For Unauthorized Trading

Samuel Izaguirre of Pembroke Pines Florida a stockbroker registered with LPL Financial LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages founded on allegations that (1) Izaguirre did not disclose information about a non-traded real estate investment trust merger and (2) Izaguirre effected the […]

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Geneos Sued By Investor For Breach Of Fiduciary Duty

Richard Mark Braverman of Lancaster Pennsylvania a stockbroker currently registered with Geneos Wealth Management Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought unspecified damages based upon accusations that (1) omissions had been made regarding the risks of investing in direct investments and real estate investments (2) fiduciary duties […]

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Investors Sue Foresters Equity Services For Bad Advice

Michael John Rappa of San Diego California a stockbroker formerly registered with Foresters Equity Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested $75,000.00 in damages supported by accusations that Rappa poorly advised the customer concerning real estate security transactions executed away from the firm. Financial Industry Regulatory […]

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Investors Sue LPL Financial For REITs Sales

Bradley Clyde Fischer of Troy Michigan a stockbroker currently registered with LPL Financial LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $450,000.00 in damages supported by allegations that unsuitable real estate investment trust transactions were effected in the customer’s investment account which caused the customer to […]

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DH Hill Sued By Investor For Breach Of Fiduciary Duty

Danny Harold Hill of Kingwood Texas the limited partner and chief compliance officer of D.H. Hill Securities LLP is the subject of a customer initiated investment related civil action where the customer sought $700,000.00 in damages founded on accusations that (1) the customer’s investment account was over-concentrated in real estate investment trust products (2) fiduciary […]

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Investors Sue Investors Capital Sued For Breach Of Contract

Louis Alan Woolf of South Easton Massachusetts a stockbroker formerly registered with Investors Capital Corp. is the subject of a customer initiated investment related arbitration claim in which the customer requested $324,555.81 in damages founded on allegations that fiduciary and contractual obligations had been breached and the customer’s TNP Irving Square DST real estate security […]

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Investors Accuse Cetera of Fraud And Misrepresentation

Mark Angelo Senofonte of Edison New Jersey a stockbroker currently registered with Cetera Investment Services LLC is the subject of a customer initiated investment related written complaint on June 12, 2018 where the customer requested $12,500.00 in damages supported by allegations that (1) unsuitable real estate security transactions were executed int the customer’s account (2) […]

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Customer Accuses Kalos Of Real Estate Securities Fraud

William Charles Sines of Seminole Florida a stockbroker formerly registered with Kalos Capital Inc. is referenced in a customer initiated investment related complaint which was resolved for $19,737.00 in damages on March 2, 2018 based upon allegations that unsuitable real estate security and mutual fund recommendations had been made to the customer. Financial Industry Regulatory […]

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REITs Not Right For Ameritas Investors

Michael Scott Arteca of Matawan New Jersey a stockbroker formerly employed by Ameritas Investment Corp is referenced in a customer initiated investment related arbitration claim in which the customer sought $200,000.00 in damages founded on allegations that real estate investment trusts were misrepresented to the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01328 (May […]

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Centaurus Sued By Customer For Annuity Fraud

July 31, 2018  |   Posted by :   |   Annuity Schemes, Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Marc Frederick Korsch of Sarasota Florida a stockbroker currently employed by Centaurus Financial Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested $55,000.00 in damages founded on accusations that (1) fixed annuity fees and surrender penalties were not reasonably explained to the customer and (2) recommendations to switch the […]

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Centaurus Financial Accused Of REIT Fraud

July 31, 2018  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

William Charles Burks II of Flower Mound, Texas, a stockbroker currently employed by Centaurus Financial, Inc. is the subject of a customer initiated investment related written complaint on May 15, 2018 in which the customer requested $415,000.00 in damages supported by allegations that the customer was not provided adequate information pertaining to risks of real […]

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Cetera Sued By Customer For Misrepresentation

John Edward Massa of Staten Island New York a stockbroker currently registered with Cetera Investment Services LLC is the subject of a customer initiated investment related civil action in which the customer sought $22,562.01 in damages based upon accusations that misrepresentations had been made to the customer in reference to the terms and conditions of […]

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Kestra Accused By Customer Of Inappropriate REIT Sales

July 31, 2018  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Paul Robert Volpe of Westport Connecticut a stockbroker formerly registered with Kestra Investment Services LLC is the subject of a customer initiated investment related written complaint on June 27, 2016 in which the customer requested $27,332.00 in damages based upon allegations of sales practice violations pertaining to a real estate investment trust sold to the […]

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Securities Service Network Bad REIT Sales

July 16, 2018  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Robert Gregory Hammond of Old Lyme Connecticut a stockbroker formerly registered with Securities Service Network Inc. is referenced in a customer initiated investment related complaint where the customer requested damages estimated to exceed $5,000.00 founded on accusations that Hammond made real estate investment trust recommendations to the customer that were not suitable given the speculative […]

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Investors Sue Lincoln Financial For REIT Sales

Philip Gott Moshier of Solon Ohio a stockbroker currently registered with Lincoln Financial Advisors Corporation is the subject of a customer initiated investment related arbitration claim in which the customer requested $186,000.00 in damages based upon accusations that Moshier made recommendations for the customer to invest in real estate investment trusts that were not suitable […]

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Customer Accuses Fidelity Brokerage Services Of Omissions

June 25, 2018  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Kyle George Corgan of Syosset New York a stockbroker formerly employed by Fidelity Brokerage Services is referenced in a customer initiated investment related written complaint on March 10, 2017 where the customer sought $35,000.00 in damages based upon allegations that Corgan neglected to explain the tax ramifications pertaining to managed account and equity product transactions. […]

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Customer Accuses Essex National Securities Of Fraud

June 25, 2018  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Tamara Ann Dawson of Boynton Beach Florida a stockbroker formerly employed by Essex National Securities LLC is the subject of a customer initiated investment related written complaint on January 17, 2018 in which the customer sought $22,000.00 in damages based upon allegations that Dawson inappropriately advised the customer to hold AR Capital Healthcare Trust III […]

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Sagepoint Financial Accused Of REIT Fraud

June 21, 2018  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Christopher R. Bice of Phoenix Arizona a stockbroker currently employed by Sagepoint Financial Inc. is the subject of a customer initiated investment related written complaint on February 9, 2018 where the customer sought $125,000.00 in damages supported by accusations that the customer was not provided information about commissions charged on real estate investment trust and […]

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FINRA Arbitration Lawyers Sue Next Financial For REIT Fraud

June 12, 2018  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Mark Lee Tevebaugh of Indian Harbour Beach Florida a stockbroker currently employed by Next Financial Group Inc. is the subject of a customer initiated investment related written complaint on February 6, 2018 where the customer sought $110,000.00 in damages based upon accusations that Tevebaugh effected a real estate investment trust transaction in the customer’s account […]

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TFS Securities Discharges Bo Wang For Unauthorized Trading

Bo Wang of Asbury New Jersey a stockbroker registered with TFS Securities Inc. has been discharged by the brokerage firm on March 14, 2018 based upon accusations that Wang (1) executed unauthorized trades in customer accounts and (2) distributed unapproved advertising materials to customers concerning real estate investment trusts and structured notes products and (3) […]

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Kestra Investment Services Unsuitable REIT Sales

May 29, 2018  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Christopher James Bradshaw of Kings Park New York a stockbroker currently employed by Kestra Investment Services LLC is referenced in a customer initiated investment related written complaint on March 9, 2018 where the customer alleged suitability and unauthorized trading concerning the customer’s real estate security and mutual fund holdings. Apparently, the customer was placed into […]

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Customer Sues LPL Financial For REIT Suitability

Brian Lewis Baum of Longmont Colorado a stockbroker currently registered with LPL Financial LLC is the subject of a customer initiated investment related arbitration claim which settled for $19,500.00 in damages based upon allegations that the customers were placed into unsuitable energy limited partnership, business development group and real estate security transactions. Financial Industry Regulatory […]

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Ausdal Financial Sued By Customer For REIT Fraud

May 17, 2018  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Gerald Lee Repasz of Peoria Illinois a stockbroker currently employed by Ausdal Financial Partners Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $62,000.00 in damages founded on accusations of suitability relating to the customer’s real estate investment trust holdings. Financial Industry Regulatory Authority (FINRA) Arbitration No. […]

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Woodbury Financial Sued For REIT Suitability

May 17, 2018  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News, Suitability   |   0 Comments

Robert Scott Ginsberg of Wallingford Connecticut a stockbroker formerly employed by Woodbury Financial Services is the subject of a customer initiated investment related arbitration claim where the customer sought $1,100,000.00 in damages founded on allegations that unsuitable real estate investment trust and oil and gas transactions were executed in the customer’s account. Financial Industry Regulatory […]

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Parkland Securities Sued For Breach Of Fiduciary Duty

April 27, 2018  |   Posted by :   |   Annuity Schemes, Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Steven Eugene Love of Terre Haute Indiana a stockbroker currently registered with Parkland Securities LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages based upon accusations that fiduciary duties owed to the customer had been breached and omissions and misrepresentations had been made to […]

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First Allied Accused By Customer Of Misrepresentation

William Michael Robertson of Deer Park Texas a stockbroker formerly registered with First Allied Securities Inc. and advisor with First Allied Advisory Services has been referenced in a customer initiated investment related written complaint on January 5, 2018 where the customer sought $22,000,000.00 in damages founded on allegations that (1) investment recommendations had been made […]

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VSR Financial Accused Of Selling Bad Real Estate Securities

April 27, 2018  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Dennis Paul Van Patter of Plano Texas a stockbroker formerly registered with VSR Financial Services Inc. has been referenced in a customer initiated investment related written complaint on October 27, 2016 in which the customer alleged that real estate security transactions were placed in the customer’s account that were not suitable for the customer. FINRA […]

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Titan Stockbroker Suspended By FINRA For Suitability

April 27, 2018  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Walter Warren Parker of Rowlett Texas a stockbroker formerly registered with Titan Securities of Addison Texas (CRD No. 131392) has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made unsuitable investment recommendations to customers. Letter of Acceptance Waiver […]

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Silver Oaks Securities Accused Of REIT Suitability

March 22, 2018  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Heath Geoffrey Grossman of Wethersfield Connecticut is a stockbroker formerly registered with Silver Oak Securities Inc. who is the subject of a customer initiated investment related written complaint on December 28, 2016 where the customer alleged that Grossman (1) failed to disclose investment advisory account fees to the customer in April of 2016 (2) recommended […]

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GF Investment Services Sued For Fraud

March 22, 2018  |   Posted by :   |   Annuity Schemes, Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Christopher Mark Justino of Parsippany New Jersey is a stockbroker formerly registered with G.F. Investment Services LLC who is the subject of a customer initiated investment related arbitration claim in which the customer requested $350,000.00 in damages based upon allegations that (1) the customer’s investment application had been fraudulently prepared and (2) the customer’s asset […]

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Indiana Widow Files FINRA Arbitration Claim Against Parkland Securities

March 22, 2018  |   Posted by :   |   Elder Abuse, Non-traded REITs, Suitability   |   0 Comments

Steven Eugene Love of Terre Haute Indiana, a stockbroker currently registered with Parkland Securities is the subject of a customer initiated investment related arbitration claim seeking between $300,000 and $500,000 in in damages supported by allegations that he failed top invest her retirement funds in safe, suitable investments, but instead sold her non-traded Real Estate […]

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Raymond James Accused Of Unauthorized Transactions

March 11, 2018  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Paidemoyo Brian Charasika of Louisville Kentucky is a stockbroker formerly registered with Raymond James & Associates Inc. who is the subject of a customer initiated investment related written complaint which settled on October 26 2015 for twelve thousand five hundred dollars in damages founded on allegations that unauthorized real estate investment trust and unit investment […]

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Austin Dutton Investor Lawsuits

Austin R. Dutton, Jr., at least until August 2017, was a stockbroker or registered representative of Newbridge Securities Corporation allowed to conduct business under the name Bridge Valley Financial Services at 171 South Main Street in Doylestown, Pennsylvania 18901. On August 10, 2017, Dutton and Newbridge Securities parted ways.  Weeks earlier, on July 24, 2017, Dutton […]

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Customer Sues Newbridge Securities For Suitability

March 07, 2018  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Austin Richard Dutton Jr. of Doylestown Pennsylvania is a stockbroker formerly registered with Newbridge Securities Corporation who is the subject of a customer initiated investment related arbitration claim where the customer sought thirty thousand dollars in damages based upon allegations that (1) misrepresentations and omissions had been made to the customer relating to features and […]

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Customer Sues UBS For Over-Concentration In REITs

January 26, 2018  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Leonard Jay Suskind, of Aventura, Florida, a stockbroker currently employed with UBS Financial Services, Inc., is the subject of a customer initiated investment related arbitration claim, where the customer requested $220,000.00 in damages based upon accusations that between 2013 and 2016, Suskind failed to follow the customer’s instructions to sell a master limited partnership position, […]

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SEC Charges Cetera Stockbroker With Fraud

Daniel Benjamin Vazquez, Senior, of Irvine, California, a stockbroker formerly employed with Cetera Advisors LLC, and founder and chief executive officer of Hoplon Financial Group and New Economic Opportunities Fund I, LLC, has been charged by the Securities and Exchange Commission (SEC) in a Complaint alleging that he engaged in a fraudulent real estate offering. […]

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Next Financial Sued By Customer For Suitability

January 09, 2018  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Stephen Joe Williams of Madison, Alabama, a stockbroker currently registered with NEXT Financial Group, Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer requested $50,000.00 in damages based upon allegations that Williams effected unsuitable real estate investment trust transactions in the customer’s account. Financial Industry Regulatory Authority (FINRA) […]

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Customer Accuses LPL Financial Of Misrepresentation

December 15, 2017  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Angelo Talebi, of Beverly Hills, California, a stockbroker formerly registered with LPL Financial LLC, is the subject of a customer initiated investment related written complaint on September 21, 2017, in which the customer requested $39,298.00 in damages based upon allegations that Talebi made misrepresentations to the customer and effected a purchase of a real estate […]

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VSR Financial Services Accused Of Negligence

November 28, 2017  |   Posted by :   |   FINRA Securities Arbitration, Non-traded REITs   |   0 Comments

Mickey Long of Plano, Texas, a stockbroker formerly registered with VSR Financial Services, Inc., is the subject of a customer initiated investment related written complaint on March 27, 2017, in which the customer sought $94,438.49 in damages founded on allegations of negligence, breach of fiduciary duty, suitability and misrepresentation concerning the customer’s real estate security, […]

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Customers Sue IMS Securities For Fraud

Jackie Divono Wadsworth of Houston, Texas, the chief executive officer of IMS Securities, Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer requested $954,700.00 in damages supported by allegations of negligent supervision, breach of fiduciary duty, and fraud in regard to real estate investment trusts effected in the […]

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Geneos Wealth Management Sued For Unsuitable REITS

November 21, 2017  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Joseph Harold Sterling of Phoenix, Arizona, a stockbroker registered with Geneos Wealth Management, Inc., is the subject of a customer initiated investment related arbitration claim, wherein the customer requested $290,000.00 in damages based upon allegations that Sterling made unsuitable investment recommendations to the customer concerning real estate securities. FINRA Arbitration No. 17-01906 (July 19, 2017). […]

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Raymond James Named In Customer Complaint

November 21, 2017  |   Posted by :   |   Non-traded REITs, Unauthorized Trading   |   0 Comments

Todd Douglas Ryman, of Atlanta, Georgia, a stockbroker formerly registered with Raymond James & Associates, is the subject of a customer initiated investment related written complaint on August 16, 2017, where the customer requested $300,000.00 in damages founded on allegations that between September 6, 2016 and February 13, 2017, Ryman effected unauthorized transactions in a […]

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Lefavi Securities Fined For Failure To Supervise

November 20, 2017  |   Posted by :   |   Business Development Companies, Non-traded REITs   |   0 Comments

Bruce A. Lefavi Securities, Inc., a brokerage firm headquartered in Salt Lake City, Utah, has been censured and fined $25,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm failed to supervise customer transactions and violated FINRA’s content standards. Letter of Acceptance, Waiver and Consent, No. 2015043353301 (Nov. 10, 2017). […]

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Customer Sues Ameriprise For REIT Suitability

November 01, 2017  |   Posted by :   |   Non-traded REITs   |   0 Comments

Dominic Jude Sacca, of Northville, Michigan, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been named in a customer initiated investment related arbitration claim, in which the customer requested $100,000.00 in damages based upon allegations that Sacca made unsuitable investment recommendations concerning real estate investment trusts, mutual fund A shares, and a variable […]

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Ameriprise Sued By Customer For REIT Suitability

November 01, 2017  |   Posted by :   |   Non-traded REITs, Suitability   |   0 Comments

Thomas David Sharp, of Folsom California, a stockbroker registered with Ameriprise Financial Services, Inc., has been named in a customer initiated investment related civil action, in which the customer requested compensatory damages based upon allegations that Sharp made unsuitable investment recommendations to the customer concerning real estate investment trusts. Civil Action No. 34201700208443 (Mar. 6, […]

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Customer Sues Ameriprise For REIT Suitability

November 01, 2017  |   Posted by :   |   Non-traded REITs   |   0 Comments

Lori Cousineau Weaver, of Renton, Washington, Ameriprise Financial Services, Inc., a stockbroker formerly registered with Ameriprise Financial Services, Inc., is the subject of a customer initiated investment related arbitration claim, where the customer sought $70,000.00 in damages supported by allegations that the customer’s assets were placed into an illiquid and unsuitable real estate investment trust. […]

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Customer Sues Berthel Fisher For Misrepresentation

November 01, 2017  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Jerry Dewayne Mccutchen Sr., of Mobile, Alabama, a stockbroker formerly registered with Berthel, Fisher & Company Financial Services, Inc., is the subject of a customer initiated investment related arbitration claim, in which several customers jointly alleged that Mccutchen made misrepresentations to the customers about real estate securities, oil and gas products, and equipment leading investments, […]

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Philadelphia Police And Firefighters Victims In Investment Debacle

October 30, 2017  |   Posted by :   |   Alternative Investments, Non-traded REITs   |   0 Comments

PHILADELPHIA (OCTOBER 30, 2017) – The Guiliano Law Group, P.C. filed an arbitration action before the Financial Industry Regulatory Authority (“FINRA”) Office of Dsipute Resolution against Newbridge Securities Corporation, based upon the conduct of its former Registered Representative, Austin R. Dutton, Jr.,  alleging the violation of the federal securities laws, the Pennsylvania Securities Act,  the […]

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Madison Avenue Securities Sued For Fraud

October 05, 2017  |   Posted by :   |   Non-traded REITs   |   0 Comments

Noel Ray Vincent, of Houston, Texas, a stockbroker formerly currently registered with Madison Avenue Securities, is the subject of a customer initiated investment related arbitration claim on August 24, 2017, in which the customer alleged that Vincent made misrepresentations to the customer and placed unsuitable real estate transactions in the customer’s account. Financial Industry Regulatory […]

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Customer Sues Ameriprise Financial For Suitability

September 14, 2017  |   Posted by :   |   Non-traded REITs   |   0 Comments

Howard Michael Niemoeller, of Irvine, California, a stockbroker currently registered with Ameriprise Financial Services, Inc., is the subject of a customer initiated investment related written complaint on March 8, 2017, in which the customer requested $125,000.00 in damages supported by accusations that Niemoeller charged the customer with excessive commissions and fees, effected trades without the […]

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Harvest Capital Sued For Misleading Customer

August 02, 2017  |   Posted by :   |   Non-traded REITs   |   0 Comments

Gregory Gerald Friel, of Boston, Massachusetts, a stockbroker formerly registered with Harvest Capital LLC, is the subject of a customer initiated investment related written complaint on May 4, 2017, in which the customer requested $19,000.00 in damages based upon allegations that Friel misled the customer in reference to the customer’s real estate securities transactions. Financial […]

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Sagepoint Financial Customer Claims Misrepresentation

July 28, 2017  |   Posted by :   |   Non-traded REITs   |   0 Comments

Mark James Sudol, of Gardena, California, is the subject of a customer initiated investment related arbitration claim on May 1, 2017, wherein the customer sought $500,000.00 in damages based upon allegations that Sudol breached his fiduciary duties, effected transactions in the customer’s account that were not suitable, negligently managed the customer’s portfolio, and made misrepresentations […]

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Kalos Capital Sued In Arbitration For Unsuitability

Curtis Leroy Whipple, of Plymouth, Michigan, a stockbroker currently registered with Kalos Capital, Inc., has been named in a customer initiated investment related arbitration claim, which settled on March 3, 2017, for $14,999.00 in damages founded upon allegations that he breached his contractual and fiduciary obligations to the customer, and negligently handled the customer’s investment […]

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Lincoln Investment Named In Customer Arbitration

July 01, 2017  |   Posted by :   |   Non-traded REITs   |   0 Comments

John Patrick Ginty, of Mesa, Arizona, a stockbroker currently registered with Lincoln Investment Planning, LLC, has been named in a customer initiated investment related arbitration claim on April 21, 2017, in which the customer requested $100,000.00 in damages based upon allegations that Ginty effected unsuitable transactions in the customer’s account concerning real estate investment trusts, […]

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Customer Filed Arbitration Against Money Concepts Capital Corp

May 30, 2017  |   Posted by :   |   FINRA Securities Arbitration, Non-traded REITs   |   0 Comments

Dustin Paul Shafer, of Springfield, Illinois, a stockbroker currently registered with Money Concepts Capital Corp., has been named in a customer initiated investment related written complaint on April 10, 2017, in which the customer requested $75,000.00 in damages based upon allegations that Shafer made poor investment recommendations to the customer about real estate security products, […]

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National Planning Broker Suspended For Hiding Complaints

May 25, 2017  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Richard Anthony McCollam, of Lafayette, California, a stockbroker formerly registered with National Planning Corporation, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity pursuant to a FINRA Office of Hearing Officers’ Hearing Panel Decision containing findings that he failed to disclose customer complaints as required […]

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Customer Brings Arbitration Against Royal Alliance

Kathleen Jeanette Tarr, of Lafayette, California, a stockbroker formerly registered with Royal Alliance Associates, Inc., has been named in a customer initiated investment related arbitration claim, which settled on February 27, 2017, for $550,000.00 in damages based upon allegations that Tarr made unsuitable investment recommendations to the customer regarding real estate securities. Financial Industry Regulatory […]

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FINRA Securities Arbitration Filed Against David Lerner Associates

Kenneth Sydney Kaufman, of White Plains, New York, a stockbroker formerly registered with David Lerner Associates, Inc., has been named in a customer initiated investment related written complaint on June 10, 2015, based upon allegations that Kaufman made misrepresentations to the customer concerning real estate securities effected in the customer’s account. Financial Industry Regulatory Authority […]

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FINRA Arbitration Filed Against Ameriprise Financial Services

Lori C. Weaver, of Renton Washington, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on March 22, 2017, in which the customer requested $70,000.00 in damages based upon allegations that Weaver effected unsuitable and illiquid real estate investment trust transactions in the customer’s […]

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IMS Securities Named In FINRA Arbitration

April 20, 2017  |   Posted by :   |   FINRA Securities Arbitration, Non-traded REITs   |   0 Comments

Steven W. Shirley, of Friendswood, Texas, a stockbroker currently registered with IMS Securities, Inc., has been named in a customer initiated investment related arbitration claim on November 10, 2016, in which the customer requested $100,000.00 in damages based upon allegations that Shirley breached his fiduciary duties to the customer, and failed to conduct reasonable due […]

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FINRA Securities Arbitration Claim Against Cambridge Investment Research

Jimmy Dale Mullins, of Fort Worth, Texas, a stockbroker currently registered with Cambridge Investment Research, Inc., has been named in a customer initiated investment related written complaint on February 21, 2017, based upon allegations that Mullins failed to disclose the illiquidity pertaining to a real estate security effected in the customer’s account. Financial Industry Regulatory […]

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Investors Capital Corp Sued by Customer For Unsuitability

April 10, 2017  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News, Suitability   |   0 Comments

Nina Sue Jessee, of Abingdon, Virginia, a stockbroker formerly registered with Investors Capital Corp., has been named in a customer initiated investment related arbitration claim on February 3, 2017, based upon allegations that Jessee effected unsuitable transactions in the customer’s account regarding investments in real estate, insurance, and equipment leasing products. Financial Industry Regulatory Authority […]

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Transam Securities Named In Customer Complaint

March 31, 2017  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Charles Chamberlin Shafe, of Maitland, Florida, a stockbroker formerly registered with Transam Securities, Inc., has been named in a customer initiated investment related written complaint on February 7, 2017, in which the customer requested $15,597.00 in damages based upon allegations that Shafe was responsible for the customer’s poor investment performance on a real estate security […]

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Ameritas Investment Corp Sued For Unsuitability

March 31, 2017  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

John Scott Jaeger, of West Des Moines, Iowa, a stockbroker formerly registered with Ameritas Investment Corp, has been named in a customer initiated investment related written complaint on January 23, 2017, in which the customer requested $27,145.00 in damages based upon allegations that Jaeger effected an unsuitable real estate investment trust transaction in the customer’s […]

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Raymond James Sued by Customer For Misconduct

Todd Douglas Ryman, of Atlanta, Georgia, a stockbroker formerly registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related written complaint on February 15, 2017, in which the customer requested $300,000.00 in damages based upon allegations that Ryman committed securities related misconduct in reference to the customer’s transactions regarding […]

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Uvest Financial Services Group Sued by Customers For Misrepresentation

March 16, 2017  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Gregory Wade Gobble, a stockbroker formerly registered with Uvest Financial Services Group, Inc., has been named in a customer initiated investment related written complaint on August 25, 2015, based upon allegations that Gobble made misrepresentations to the customer concerning the Behringer Harvard Real Estate Investment Trust. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals […]

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Ameriprise Financial Stockbroker Sanctioned

March 07, 2017  |   Posted by :   |   Elder Abuse, Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Lori Cousineau Weaver, of Renton, Washington, a stockbroker formerly registered with Ameriprise Financial Services, Inc. were sanctioned by The State of Washington Securities Division based on an Order which imposed fines and a suspension of Weaver’s securities registration based upon consenting to findings that Weaver and Ameriprise Financial Services effected unsuitable sales of non-traded real […]

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Purshe Kaplin Sterling Investments Sanctioned For Failure To Supervise

Purshe Kaplin Sterling Investments headquartered in Albany, New York, was censured and fined $750,000.00 by Financial Industry Regulatory Authority (FINRA) Department of Enforcement, and ordered to pay $3,373,303.68 in restitution according to an Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that the firm failed to supervise a registered representative’s dual relationship with […]

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FSC Securities Corporation Named In Customer Securities Arbitration

December 23, 2016  |   Posted by :   |   FINRA Securities Arbitration, Non-traded REITs   |   0 Comments

Henry John Kulig III, of Clearwater, Florida, a stockbroker currently registered with FSC Securities Corporation, is the subject to a customer initiated investment related arbitration action in which the customer was awarded $65,333.33 in damages. The customer’s claim was based upon allegations that Kulig made unsuitable investment recommendations to the customer concerning American Realty Capital […]

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LPL Financial Named in Customer Securities Arbitration

Brian Harris Brunhaver, of Snohomish, Washington, a stockbroker previously registered with LPL Financial LLC, and Pacific West Securities, Inc., has been subject to a customer initiated investment related arbitration claim from February 24, 2014, in which customers requested $637,100.00 in damages based upon allegations that Brunhaver effected unsuitable investments in real estate investments trusts within […]

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National Planning Corporation Named In Customer Unsuitability Claim

November 30, 2016  |   Posted by :   |   FINRA Securities Arbitration, Non-traded REITs   |   0 Comments

Gary D. Moore, of Sarasota, Florida, a stockbroker currently registered with National Planning Corporation, has been subject to a customer initiated investment related arbitration claim on May 18, 2016, in which the customer alleged that Moore effected unsuitable real estate investment trust transactions in the customer’s account. FINRA Public Disclosure reveals that Moore has been […]

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VFG Securities Stockbroker Charged With Lying To Investors

Jason B. Vanclef, of Culver City, California, a stockbroker currently registered with VFG Securities, Inc., was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Vanclef made investment recommendations to customers based upon false and misleading statements. Department of Enforcement v. Jason Bryce Vanclef, No. 2013038283001 (Feb. 9, 2016). […]

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Fifth Third Securities Named In Customer Arbitration Alleging Unsuitability

Matthew T. Flynn, of Highland, Michigan, a stockbroker formerly with Fifth Third Securities, is subject to a customer initiated investment related arbitration claim from February 3, 2014, in which the customer requested $275,000.00 in damages based upon allegations against Flynn of making unsuitable recommendations in non-public real estate investment trusts. FINRA Public Disclosure reveals that […]

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Summit Brokerage Services Named in Customer Arbitration Alleging Unsuitability

November 02, 2016  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News, Suitability   |   0 Comments

Joel E. Archer, of Arden Arcade, California, a stockbroker currently registered with Summit Brokerage Services, Inc., has been named in a pending customer initiated investment related arbitration claim on June 21, 2016, in which the customer requested $200,000.00 in damages based upon allegations against Archer of making unsuitable investment recommendations to the customer, and effecting […]

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H Beck Stockbroker Poston Sued By Customer For Sale of Unsuitable Investments

October 10, 2016  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud   |   0 Comments

Richard E. Poston, of Plano, Texas, a stockbroker with H. Beck, Inc., disclosed via FINRA’s BrokerCheck that he settled a customer dispute for $185,000.00 on March 28, 2016, after the customer alleged that Poston engaged in the unsuitable recommendation of non-traded real estate investment trusts. FINRA Public Disclosure records reveal that Poston has been recently […]

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US Bancorp Stockbroker Charged With Unsuitable Recommendations

John S. Hudnall, of San Francisco, California, a stockbroker with U.S. Bancorp Investments and Bancwest Investments Services, Inc., was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Hudnall engaged in unauthorized private securities transactions, unsuitable recommendations, and made false representations to FINRA regarding his misconduct. Department of Enforcement […]

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FINRA charges VFG Securities with Fraud

Jason Bryce Vanclef fist became registered with the Financial Industry Regulatory Authority in 2006, and since that time, he has been the subject of no less that seven customer initiated investment related complaints alleging fraud, and most recently on February 6, 2016, a FINRA regulatory action also alleging fraud in connection with the sale of […]

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Purshe Kaplin Sterling Investments Charged with Fraud

February 12, 2016  |   Posted by :   |   Failure To Supervise, Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Purshe Kaplin Sterling Investments , based in Albany, New York, and its stockbroker Gopi Krishna Vungarala, of Midland, Michigan, were charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging misrepresentation and omission of a material fact in connection with the sale of securities ; failure to disclose volume discounts ; […]

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National Planning Corp Broker Charged

Richard A. McCollam of Layfayette, California, a stockbroker with National Planning Corporation, was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging McCollam willfully failed to disclose two customer arbitrations and seven customer complaints on his Uniform Application for Securities Industry Regulation filed on January 22, 2014, referred to as […]

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VSR Financial Services Broker Suspended for Unsuitable Recommendations

Dennis P. Van Patter of Dallas, Texas, a registered representative with VSR Financial Services, Inc., was fined $10,000 and suspended for forty-five days from association with any Financial Industry Regulatory Authority (FINRA) member in all capacities after consenting to findings that he made unsuitable recommendations to firm customers. Letter of Acceptance, Waiver and Consent, No. […]

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Cadaret Grant Broker Suspended for Unsuitable Recommendations

Douglas William Finlay, Jr., a registered representative with Cadaret Grant, was suspended, fined, and forced to pay disgorgement by the Financial Industry Regulatory Authority after consenting to findings that Finlay engaged in an unsuitable recommendation and execution of a faulty transaction in his firm’s customer account. Letter of Acceptance, Waiver, and Consent, No. 2013035576601 (Apr. […]

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LPL Fined $10M For Supervisory Failures

LPL Financial LLC, a FINRA member since 1973 headquartered in Boston, MA, conducts general securities business via 18,343 registered reps operating out of roughly 10,702 registered branch offices and 18,396 non-registered office locations. The firm was censured and fined $10M after consenting to FINRA’s findings concerning the firm’s failure(s) to adequately supervise ETF, variable annuity, […]

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IBN Financial Services Planner Barred For Defrauding Customers

Anthony Diaz of Scotrun, PA, formerly a financial planner with IBN Financial Services, was permanently barred from association with any FINRA registered firms after consenting to FINRA allegations that Diaz engaged in unsuitable variable annuity exchanges, deceptively used falsified financial information and dates, committed fraud in connection with alternative investments, falsified books and records, engaged […]

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J.P. Turner Fined and Censured For Failure to Supervise

J.P. Turner & Co, recently acquired by Cetera, has over 360 registered representatives and over 150 branch offices nationwide. J.P. Turner’s history with securities regulators is substantial. For example, in December 2013, J.P. Turner consented to a sanction consisting of a censure and restitution in the amount of almost $1 million for the failure to […]

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