Investors Sue Capital Financial Alternative Investment Fraud
Robin Dewayne Walls of Shakopee Minnesota a stockbroker formerly registered with Capital Financial Services Inc. is the subject of a customer initiated investment related arbitration claim which settled for $95,000.00 in damages supported by accusations that Walls sold the customer unsuitable and illiquid alternative investments including oil and gas products and direct participation program or limited partnership interests. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02363 (Aug. 10, 2018).
FINRA Public Disclosure confirms that Walls is referenced in four additional customer initiated investment related disputes pertaining to allegations of his misconduct while employed with Questar Capital, Fintegra, LLC and Capital Financial Services Inc. Specifically, a customer initiated investment related arbitration claim regarding Walls’ activities was resolved for $112,500.00 in damages founded on accusations that Walls placed the customers in unsuitable AMCC stock, causing the customer to incur unwarranted investment losses. National Association of Securities Dealers (NASD) Arbitration No. 02-00935 (Aug. 15, 2003).
Thereafter, a customer initiated investment related arbitration claim concerning Walls’ conduct was settled for $9,900.00 in damages supported by allegations against Walls of unsuitability with regard to the stock and mutual fund investments held in the customer’s investment account. NASD Arbitration No. 04-02903 (May 18, 2005). On August 9, 2012, another customer filed an investment related complaint involving Walls’ activities in which the customer requested damages estimated to exceed $5,000.00 in based upon accusations of theft and insider trading.
Subsequently, a customer initiated investment related arbitration claim involving Walls’ activities was resolved for $75,000.00 in damages supported by allegations that Walls sold the customer alternative investments, including real security, oil & gas, equipment leasing and direct investment products, that were inappropriate for the customer. FINRA Arbitration No. 17-00783 (Aug. 10, 2018).
Walls has been employed by Capital Financial Services Inc. since July 6, 2012.
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