Failure to Conduct Due Diligence

Archive | Failure to Conduct Due Diligence

Triad Advisors Sanctioned In LJM Preservation And Growth Fund Fiasco

January 20, 2022  |   Posted by :   |   Failure to Conduct Due Diligence, Failure To Supervise, Investment and Regulatory News   |   Comments Off on Triad Advisors Sanctioned In LJM Preservation And Growth Fund Fiasco

Triad Advisors LLC, a securities broker dealer headquartered in Atlanta, Georgia, has been censured and fined $195,000.00 by Financial Industry Regulatory Authority (FINRA) based in part on findings that Triad Advisors failed to supervise stockbrokers’ recommendations of alternative mutual funds, including the LJM Preservation and Growth Fund (LJM), which resulted in losses to Triad Advisors’ […]

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Goldman Sachs Discharges Stockbroker For Customer Complaints

January 20, 2022  |   Posted by :   |   Breach of Fiduciary Duty, Failure to Conduct Due Diligence, Investment and Regulatory News   |   Comments Off on Goldman Sachs Discharges Stockbroker For Customer Complaints

Robert Brian Wolfe, of Fort Lauderdale, Florida, a stockbroker formerly registered with Goldman Sachs Co. LLC, was discharged as a stockbroker on September 30, 2021, founded on accusations of Wolfe’s handling of customer complaints without notifying Goldman Sachs Financial Management. Wolfe was also accused of activities relating to customer communications centered around market valuations and […]

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Kalos Capital Accused By Investors Of Misrepresentation

Frederick Peter Baerenz (also known as Fred Baerenz) of Great Falls Virginia a stockbroker formerly registered with Kalos Capital Inc. is referenced in a customer initiated investment complaint which was settled for $14,000.00 in damages on August 20, 2020, based upon accusations that Baerenz provided unsuitable recommendations regarding alternative investment transactions during the time that […]

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Investors File Securities Arbitration Claim Against LPL Financial For Breach Of Fiduciary Duty

October 19, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Failure to Conduct Due Diligence, Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Unsuitable Investment Recommendations   |   Comments Off on Investors File Securities Arbitration Claim Against LPL Financial For Breach Of Fiduciary Duty

Jeffrey Guy LaBelle (also known as Jeff LaBelle) of Sarasota Florida a stockbroker formerly registered with LPL Financial LLC and First Allied Securities Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer requested $350,000.00 in damages based upon allegations that LaBelle breached a contract and breached a […]

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Kalos Capital Stockbroker Accused Of Breach Of Fiduciary Duty

October 19, 2021  |   Posted by :   |   Business Development Companies, Failure to Conduct Due Diligence, FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs   |   Comments Off on Kalos Capital Stockbroker Accused Of Breach Of Fiduciary Duty

David Michael Lademan of Okemos Michigan a stockbroker formerly registered with Kalos Capital Inc. is referenced in a customer initiated investment related written complaint on August 18, 2021, in which the customer requested compensatory damages founded on allegations of false statements and omissions relating to business development company (BDC), real estate security (REIT), equipment leasing, […]

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Investors File Securities Arbitration Claim Against First Allied Securities

October 08, 2021  |   Posted by :   |   Alternative Investments, Failure to Conduct Due Diligence, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File Securities Arbitration Claim Against First Allied Securities

Kimberly Ann Barentsen (also known as Kimberly Ann Berentsen, Kimberly Ann Bietema, and Kimberly Ann Bielema) of Walnut Creek California a stockbroker formerly registered with First Allied Securities Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought between $100,000.00 and $500,000.00 in damages based on allegations […]

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Kalos Capital Stockbroker Accused Of Breach Of Fiduciary Duty

October 08, 2021  |   Posted by :   |   Failure to Conduct Due Diligence, FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs   |   Comments Off on Kalos Capital Stockbroker Accused Of Breach Of Fiduciary Duty

Michael J. Haffling of Chicago Illinois a stockbroker currently registered with Kalos Capital Inc. and Kalos Management is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested more than $100,000.00 in damages founded on allegations of negligence and breach of fiduciary duty concerning real estate security transactions by Haffling […]

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Sagepoint Financial Stockbroker Accused Of Unsuitable Investment Recommendations

October 08, 2021  |   Posted by :   |   Alternative Investments, Failure to Conduct Due Diligence, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Sagepoint Financial Stockbroker Accused Of Unsuitable Investment Recommendations

Daniel G. Dillard of Austin Texas a stockbroker formerly registered with Sagepoint Financial Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $1,500,000.00 in damages founded on allegations that Dillard provided unsuitable investment recommendations regarding direct participation program interests or limited partnership interests during the period that […]

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Investors File FINRA Arbitration Claim Against Berthel Fisher For Unsuitable Investment Advice

September 16, 2021  |   Posted by :   |   Failure to Conduct Due Diligence, Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Unsuitable Investment Recommendations   |   Comments Off on Investors File FINRA Arbitration Claim Against Berthel Fisher For Unsuitable Investment Advice

Jonathan Todd Pyne of Plymouth Minnesota a stockbroker currently registered with Berthel Fisher Company Financial Services Inc. has been referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $116,000.00 in damages based upon accusations of misrepresentation relating to their investments in real estate securities while Pyne was associated […]

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Investors File Arbitration Claim Against BCG For Sale Of Unsuitable Investments

September 03, 2021  |   Posted by :   |   Alternative Investments, Direct Participation Programs, Failure to Conduct Due Diligence, Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on Investors File Arbitration Claim Against BCG For Sale Of Unsuitable Investments

Mark Charles Cohen of New York New York a stockbroker formerly registered with BCG Securities Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought compensatory damages based upon accusations of Cohen selling unsuitable direct participation program interests and limited partnership interests during the period that he […]

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Investors File Securities Arbitration Claim Against Coastal Equities

July 12, 2021  |   Posted by :   |   Alternative Investments, Failure to Conduct Due Diligence, FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs   |   Comments Off on Investors File Securities Arbitration Claim Against Coastal Equities

Luke Michael Johnson of Scottsdale Arizona a stockbroker formerly registered with Coastal Equities Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $76,500.00 in damages founded on allegations that Johnson provided unsuitable recommendations concerning real estate security transactions at Coastal Equities. Financial Industry Regulatory Authority (FINRA) Arbitration […]

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Investors File FINRA Arbitration Claim Against Crown Capital Securities

July 07, 2021  |   Posted by :   |   Alternative Investments, Failure to Conduct Due Diligence, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on Investors File FINRA Arbitration Claim Against Crown Capital Securities

Hugh Ordway Barndollar III (also known as Hobby Barndollar) a stockbroker currently registered with Crown Capital Securities is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought more than $5,000.00 in damages founded on allegations that they had been sold an unsuitable non-traded business development company and […]

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Investors Accuse Kalos Capital Of Unsuitable Trading

May 15, 2021  |   Posted by :   |   Alternative Investments, Failure to Conduct Due Diligence, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on Investors Accuse Kalos Capital Of Unsuitable Trading

Arni Jat Diamond (also known as Arni Jay Diamond) of Jacksonville Florida a stockbroker formerly registered with Kalos Capital Inc. is the subject of a customer initiated investment related written complaint which was resolved on January 18, 2021 for $17,749.00 in damages based upon allegations that Diamond’s alternative investment advice or handling of the customer’s […]

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David Lerner Stockbroker Sanctioned For Sale of Unuitable Investments

March 08, 2021  |   Posted by :   |   Alternative Investments, Failure to Conduct Due Diligence, Investment and Regulatory News, Overconcentration   |   Comments Off on David Lerner Stockbroker Sanctioned For Sale of Unuitable Investments

Charles Abad Santos Bonilla of Boca Raton Florida a stockbroker formerly registered with David Lerner Associates Inc. has been fined $5,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Bonilla made unsuitable recommendations to customers concerning alternative investments. Letter of Acceptance […]

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Investors File Securities Arbitration Claim Against Accelerated Capital

March 08, 2021  |   Posted by :   |   Alternative Investments, Direct Participation Programs, Failure to Conduct Due Diligence, Investment and Regulatory News   |   Comments Off on Investors File Securities Arbitration Claim Against Accelerated Capital

Aaron Paul Brodt of Scottsdale Arizona a stockbroker formerly registered with Accelerated Capital Group is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $430,000.00 in damages based upon allegations of Brodt’s failure to undertake due diligence prior to recommending that the customer purchase direct investments including direct […]

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Kalos Capital Sued For Breach Of Fiduciary Duty

February 01, 2021  |   Posted by :   |   Alternative Investments, Breach of Fiduciary Duty, Failure to Conduct Due Diligence, Investment and Regulatory News   |   Comments Off on Kalos Capital Sued For Breach Of Fiduciary Duty

Eric Peter Weschke of Setauket New York a stockbroker currently registered with Kalos Capital Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $718,000.00 in damages supported by allegations of Weschke overconcentrating the customer’s investments in limited partnership interests and alternative investments during the period […]

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Investors Bring Arbitration Claim Against Berthel Fisher For Unsuitable Alternative Investments

December 22, 2020  |   Posted by :   |   Alternative Investments, Failure to Conduct Due Diligence, Investment and Regulatory News   |   Comments Off on Investors Bring Arbitration Claim Against Berthel Fisher For Unsuitable Alternative Investments

Jonathan Todd Pyne of Minneapolis Minnesota a stockbroker formerly registered with Berthel Fisher Company Financial Services is referenced in a customer initiated investment related arbitration claim in which the customer requested $250,000.00 in damages founded on allegations that Pyne cause pain or damages as the result of misrepresentations made to the customer regarding certain alternative […]

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Kalos Capital Accused Of Unsuitable Alternative Investments

December 07, 2020  |   Posted by :   |   Failure to Conduct Due Diligence, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on Kalos Capital Accused Of Unsuitable Alternative Investments

Michael J. Haffling of Orland Park Illinois a stockbroker formerly registered with Kalos Capital Inc. and an investment adviser representative of Kalos Management is the subject of a customer initiated investment related written complaint which was settled for $55,000.00 in damages on July 13, 2020 based upon allegations of Haffling and Kalos Capital having failed […]

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Investors Bring Arbitration Claims Against Madison Securities Over GPB Ponzi Scheme

October 08, 2020  |   Posted by :   |   Alternative Investments, Failure to Conduct Due Diligence, Securities Arbitration Claims   |   Comments Off on Investors Bring Arbitration Claims Against Madison Securities Over GPB Ponzi Scheme

Jeffrey Raymond Dixson of Vancouver Washington a stockbroker formerly registered with Madison Avenue Securities LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $225,000.00 in damages supported by allegations that the customer had been provided with unsuitable recommendations of alternative investments including GPB which led the customer to experience […]

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FINRA Bars WestPark Stockbroker In Fraudulent Promissory Note Scheme

September 30, 2020  |   Posted by :   |   Failure to Conduct Due Diligence, FINRA Securities Arbitration, Promissory Notes, Securities Arbitration Claims, Securities Fraud   |   Comments Off on FINRA Bars WestPark Stockbroker In Fraudulent Promissory Note Scheme

Harry Seth Datys of New York New York a stockbroker formerly employed by WestPark Capital Inc. has been fined $20,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he advised customers of WestPark to purchase promissory notes that were not suitable for them and […]

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Madison Avenue Sued For Fraudulent Alternative Investments

May 12, 2020  |   Posted by :   |   Alternative Investments, Failure to Conduct Due Diligence, Securities Arbitration Claims, Securities Fraud   |   Comments Off on Madison Avenue Sued For Fraudulent Alternative Investments

David Richard Geake of Northbrook Illinois a stockbroker formerly registered with Madison Avenue Securities LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $100,000.00 in damages based upon allegations that (1) misrepresentations and omissions had been made by Geake regarding alternative investments (2) due diligence was not […]

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Investors Accuse U.S. Bancorp Of Failure to Conduct Due Diligence

May 12, 2020  |   Posted by :   |   Failure to Conduct Due Diligence   |   Comments Off on Investors Accuse U.S. Bancorp Of Failure to Conduct Due Diligence

Jeff Anton Nizich a stockbroker associated with U.S. Bancorp Investments has been referenced in a customer initiated investment related complaint on September 12, 2019 in which the customer requested damages estimated to exceed $5,000.00 based upon allegations that due diligence was not adequately performed prior to mutual fund transactions being effected by the stockbroker during […]

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Coastal Equities Sued For Fraudulent Alternative Investments

Luke Michael Johnson of Scottsdale Arizona a stockbroker formerly employed by Coastal Equities Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $509,000.00 in damages based upon allegations that investment recommendations made by Johnson between June of 2017 and June of 2018 failed to be suitable for […]

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GPB Investors Sue For Failure to Conduct Due Diligence

Guiliano Law Group, P.C. (Philadelphia) announced that is has filed investor claims against securities broker-dealers in connection the recommendation and sale of GPB Capital, and its related entities including GPB Automotive. The Statement of Claim filed before the Financial Industry Regulatory Authority or FINRA alleges the violation of the federal securities laws, the Pennsylvania Securities […]

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VSR Financial Sued By Investors For Misrepresentation

Scott Vincent Kaup of Stuart Nebraska a stockbroker formerly employed by VSR Financial Services Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $42,500.00 in damages based upon accusations that (1) unfounded statements and omissions had been made to the customer concerning real estate securities and direct investments (2) […]

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Newbridge Sanctioned By FINRA For Failure To Supervise

Newbridge Securities Corporation a securities broker dealer headquartered in Boca Raton Florida, and Bruce H. Jordan (Director of Investment Banking), have been censured by Financial Industry Regulatory Authority (FINRA) based upon findings that (1) Newbridge failed to supervise structured products sold to customers of the firm (2) Newbridge failed to supervise non-traditional exchange traded fund […]

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Lowell Company Sued For Exchanged Traded Fund Trading Misconduct

Jody Bryant Bowers of Abilene Texas a stockbroker formerly employed by Lowell Company Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought between $100,000.00 and $500,000.00 in damages supported by accusations that (1) exchanged traded funds had been misrepresented and (2) the customer was provided with bad investment recommendations […]

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Money Concepts Capital Corp Sued For Negligence

Craig Alan Sutherland of Columbus Ohio a stockbroker registered with Money Concepts Capital Corp is the subject of a customer initiated investment related arbitration claim in which an Arbitration Panel ordered Money Concepts Capital Corp to pay the customer $698,979.00 in compensatory damages based on finding the firm liable on the customer’s claims including (1) […]

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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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Investors Sue National Planning Corp For Negligence

Timothy David Ballard (also known as Tim Ballard) of Danville California a stockbroker employed by National Planning Corporation is referenced in a customer initiated investment related arbitration claim where the customer sought more than $100,000.00 in damages supported by allegations that (1) the customer’s account was handled in a negligent manner (2) fiduciary obligations were […]

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