Craig Sutherland, of Columbus, Ohio, a stockbroker with Money Concepts Capital Corp, is subject to a pending customer dispute from January 29, 2016. Particularly, the customer requested $300,000.00 in damages in connection with allegations against Sutherland of negligence, making misrepresentations to the customer, breach of fiduciary duty, breach of contract, and effecting transactions that were unsuitable and which resulted in the overconcentration of the customer’s assets.
FINRA BrokerCheck reveals that Sutherland has also been subject to five other customer disputes. On October 9, 2014, a customer requested $23,000.00 in damages after alleging that Sutherland made misrepresentations regarding guarantees associated a customer’s annuity purchase at ING. The customer also alleged that investments purchased were unsuitable and resulted in the customer’s assets being placed into a fixed account which led the customer to bear $20,000.00 in investment losses.
On June 24, 2014, Sutherland settled a customer dispute for $135,000.00 after customers alleged that several investments were unsuitable, including a variable annuity issued by John Hancock, a real estate investment trust in American Realty Capital Healthcare, and investment in Tanzanian Royalty Exploration Company. The customers additionally alleged that Sutherland made omissions and misrepresentations regarding the investments.
On July 5, 2012, a customer lodged a dispute against Sutherland, in which $8,434.79 in damages was requested in connection with allegations against Sutherland of making misrepresentations and effecting an unsuitable sale of a variable annuity. Sutherland was alleged by the customer to have not disclosed surrender penalties and other terms and conditions of the annuity.
On March 5, 2012, Sutherland settled a customer dispute for $10,472.00 after customers alleged that investments in Tazanian Royalty Exploration Corporation were unsuitable and not authorized. The customers additionally claimed that Sutherland failed to disclose certain aspects regarding front-end loads and breakpoint discounts, which led customers to pay excessive commissions.
Sutherland also settled a customer dispute for $63,000.00 on December 13, 2010, in which customers alleged that Sutherland committed negligence, traded in the customer’s account without requisite authorization, breached his fiduciary duty to the customer, and effected unsuitable investment purchases in the customer’s account.
Guiliano Law Group
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