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. – a direct investment product. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-00296 (Apr. 25, 2018).
FINRA Public Disclosure confirms that Freimark is referenced in twenty-four more customer initiated investment related disputes pertaining to allegations of his misconduct during the time that he was associated with ProEquities Inc. In particular, a customer initiated investment related arbitration claim involving Freimark’s conduct was resolved for $52,000.00 in damages supported by accusations that Freimark breached his contractual and fiduciary duties to the customer; negligently transacted in the customer’s account; made inappropriate recommendations regarding investments in equipment leasing and real estate security products; and committed fraud. FINRA Arbitration No. 15-03073 (May 4, 2015).
Subsequently, a customer initiated investment related arbitration claim regarding Freimark’s activities was settled for $20,000.00 in damages based upon allegations that investment recommendations were not suitable given the customers’ ages, objectives for investing, tolerance for risk and investment needs; and the customers’ assets were over-concentrated in illiquid and speculative private placement and real estate security products. FINRA Arbitration No. 16-02384 (Oct. 5, 2016).
Thereafter, a customer filed an investment related arbitration claim concerning Freimark’s activities in which the customer requested $446,156.00 in damages founded on accusations that omissions had been made to the customer concerning real estate security, equipment leasing products, and fixed annuity investments. FINRA Arbitration No. 15-00738 (Apr. 7, 2015). Then, a customer initiated investment related arbitration claim involving Freimark’s conduct was resolved for $155,000.00 in damages supported by allegations that the customer was placed in illiquid and risky investments that were not appropriate given the customer’s age, financial situation and objectives. FINRA Arbitration No. 15-00063 (July 31, 2015).
Furthermore, a customer initiated investment related arbitration claim regarding Freimark’s activities was settled for $164,250.00 in damages based upon accusations against Freimark of misrepresentation and suitability in reference to real estate security and equipment leasing transactions placed in the customer’s account. FINRA Arbitration No. 15-02026 (Jan. 5, 2016). Further, a customer initiated investment related arbitration claim concerning Freimark’s conduct was resolved for $108,000.00 in damages founded on allegations that Freimark poorly advised the customers, made misleading statements regarding investments, and caused the customers to suffer unwarranted losses on real estate security, oil & gas, equipment leasing products, direct investment products, and fixed annuity investments. FINRA Arbitration No. 16-00650 (November 4, 2016).
Freimark’s registration with ProEquities Inc. has been terminated as of August 10, 2015.
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