Eric Peter Weschke, of Setauket, New York, a stockbroker currently registered with Kalos Capital Inc., is identified in a customer initiated investment related FINRA securities arbitration claim in which the customer sought $138,000.00 in damages founded on accusations of negligence and unsuitable alternative investment transactions by Weschke during the time that he was associated with Kalos Capital. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-00542 (March 1, 2021). According to the claim, there was a breach of contract and breach of fiduciary duty by Weschke regarding the customer’s investments in direct participation programs and limited partnerships.
FINRA Public Disclosure shows that Weschke has been identified in seventeen additional customer initiated investment related disputes concerning allegations of his activities while he was employed by Tasin Company Inc., Kalos Capital, and Self Trading Securities Inc. On April 24, 2020, a customer initiated investment related FINRA securities arbitration claim concerning Weschke’s conduct was settled for $45,000.00 in damages based upon accusations of breach of fiduciary duty and unsuitable recommendations by Weschke when he was registered with Kalos Capital Inc. FINRA Arbitration No. 19-00537. According to the claim, Kalos Capital failed to supervise Weschke between October of 2015 and 2017, resulting in unsuitable investment recommendations to the customer on BDCs and real estate securities.
Weschke is also the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $70,000.00 in damages supported by allegations of Weschke placing the customer in unsuitable private equity products. FINRA Arbitration No. 19-02708 (September 21, 2020). The claim also contains accusations of breach of fiduciary duty and breach of contract relating to investments in GPB.
On December 16, 2020, a different customer initiated investment related FINRA securities arbitration claim involving Weschke’s activities was settled for $33,951.24 in damages founded on allegations of the failure to conduct due diligence on alternative investments sold to the customer while Weschke was employed by Kalos Capital. FINRA Arbitration No. 20-00268. According to the claim, Weschke provided unsuitable investment recommendations on DPPs, LPs, and real estate securities. The claim also alleges that the securities broker dealer failed to supervise Weschke’s activities.
Weschke is referenced in another customer initiated investment related FINRA securities arbitration claim which was resolved for $9,852.00 in damages based upon accusations of breach of fiduciary duty and breach of contract by the stockbroker as it pertained to BDCs, oil and gas securities, and direct investments, including DPPs and LPs. FINRA Arbitration No. 20-00992 (January 18, 2021). According to the claim, Weschke was negligent and gave bad advice to the customer regarding these alternative investments.
On January 18, 2021, an additional customer initiated investment related FINRA securities arbitration claim regarding Weschke’s activities was resolved for $152,923.00 in damages supported by allegations of an overconcentration of the customer’s account in alternative investments by Weschke and Kalos Capital Inc. FINRA Arbitration No. 20-03204. According to the claim, the customer’s investments in DPPs and LPs were unsuitable. Weschke allegedly breached a fiduciary duty, and Kalos Capital did not properly supervise him, resulting in damages.
Weschke is also identified in a customer initiated investment related FINRA securities arbitration claim in which the customer sought $150,000.01 in damages founded on accusations of limited partnership interests being misrepresented by Weschke. FINRA Arbitration No. 21-00447 (February 18, 2021). The claim alleges that Weschke also failed to disclose risks and placed the customer in unsuitable investments when he was associated with Kalos Capital.
Since May 16, 2011, Weschke has been registered with Kalos Capital as a stockbroker and Kalos Management as an investment adviser representative.
