Jonathan Todd Pyne of Minneapolis, Minnesota, a stockbroker currently registered with Berthel Fisher & Company Financial Services, Inc., is the subject of a customer initiated investment related written complaint on July 6, 2017, in which the customer requested more than $5,000.00 in damages based upon allegations that Pyne misled the customer by inducing the customer’s purchase of illiquid business development company and real estate security investments.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Pyne has been identified in four more customer disputes in reference concerning his wrongdoing while he was associated with Berthel, Fisher & Company Financial Services, Inc. Specifically, on May 12, 2011, a customer filed an investment related written complaint regarding Pyne’s activities, in which the customer requested $9,093.80 in damages based upon allegations that Pyne made misrepresentations to the customer regarding equipment leasing products.
Subsequently, a customer resolved an investment related civil action involving Pyne’s conduct for $110,000.00 in damages resting on allegations that the customer was sold real estate security, oil & gas and equipment leasing products that were not suitable for the customer and which had been misrepresented. Civil Action No. 27-CV-14-20315 (Oct. 29, 2014). The customer additionally alleged that the company failed to supervise Pyne’s activities.
On September 26, 2016, a customer filed an investment related written complaint involving Pyne’s conduct, in which the customer alleged poor investment performance. Thereafter, on November 21, 2016, a customer initiated investment related written complaint regarding Pyne’s activities was resolved for $48,175.57 in damages supported by allegations of suitability and misrepresentation.
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