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Gerald Lee Repasz (also known as Jerry Repasz) of East Peoria Illinois a stockbroker formerly registered with Ausdal Financial Partners is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $100,000.00 in damages supported by accusations that they had been placed into unsuitable investments including real estate securities and direct investments during the time that Repasz was associated with Berthel Fisher Company Financial Services and Ausdal Financial Partners. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-01028 (Jan. 31, 2020).

According to the claim, the customer was invested in illiquid investments after their net worth had been falsified on applications and after misrepresentations had been made to them. The claim also alleges that the securities broker dealers failed to supervise Repasz’s activities.

Repasz has been identified in five additional customer initiated investment related disputes regarding allegations of his improper activities while he was employed by SII Investments and Berthel Fisher Company Financial Services. FINRA Public Disclosure confirms that a customer filed an investment related complaint regarding Repasz’s conduct in which the customer requested $186,000.00 in damages founded on accusations that the surrender fees of an annuity had been misrepresented.

Another customer filed an investment related complaint involving Repasz’s activities where the customer sought more than $5,000.00 in damages based upon allegations of Berthel Fisher’s failure to supervise Repasz’s conduct leading to inappropriate investments in real estate securities and promissory notes. According to the complaint, there were misrepresentations by the stockbroker.

Repasz is also referenced in a customer initiated investment related complaint in which the customer sought $2,028,000.00 in damages supported by accusations that inadequate due diligence had been undertaken on private placements that had been sold to them. The claim alleges unsuitability and misrepresentation concerning the private placements. On July 28, 2017, another customer initiated investment related FINRA securities arbitration claim concerning Repasz’s conduct was resolved for $20,000.00 in damages founded on allegations of the stockbroker’s misrepresentations pertaining to a real estate security that was sold to the customer trough Berthel Fisher. The claim also alleges that investments were not suitable and that Berthel Fisher failed to supervise Repasz’s activities.

On August 10, 2018, a different customer initiated investment related FINRA securities arbitration claim regarding Repasz’s conduct was settled for $26,500.00 in damages supported by accusations of unsuitable alternative investments being sold by Repasz while he was registered with Berthel Fisher and Ausdal Financial Partners. FINRA Arbitration No. 17-02791. According to the claim, the customer sustained damages by investing in UDF III, UDF IV and Behringer Harvard REIT.

Repasz’s registration with Ausdal Financial Partners has been terminated as of July 1, 2020.