David Bruce McMillen of Boulder, Colorado, a stockbroker registered with Crown Capital Securities LP, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $125,000.00 in damages based upon allegations that McMillen breached his fiduciary duties, made unsuitable investment recommendations, and was negligent in connection with the sale of non-traded Real Estate Investment Trusts (REITs) and Business Development Companies (BDCs) and other direct investments during the time that McMillen was associated with Crown Capital Securities LP. FINRA Arbitration No. 23-00698 (April 3, 2023).
FINRA Public Disclosure shows that McMillen has been involved in three other customer initiated investment related disputes concerning his conduct. McMillen faced a customer complaint in which the customer alleged damages of $20,000.00 based on McMillen’s failure to follow instructions in a timely manner related to variable annuities. The complaint was denied by the firm on August 16, 2005.
On February 23, 2018, a customer initiated an investment related complaint involving McMillen’s conduct was settled for $1,500,000.00 in damages based upon allegations that McMillen caused the customer to be unable to liquidate their investments, and consequently, be unable to know their financial value. This occurred in connection with the sale of direct investments and oil and gas investments when McMillen was associated with Crown Capital Securities LP
McMillen is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $250,000.00 in damages based upon allegations that McMillen made unsuitable recommendations in direct investments and equipment leasing products. FINRA Arbitration No. 18-00929 (March 22, 2019).
McMillen has been associated with Crown Capital Securities LP in Boulder, Colorado since January 2, 2003.
