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 a non-traded real estate investment trust when Barndollar was associated with Crown Capital Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-00838 (Apr. 14, 2021). According to the claim, there was inadequate due diligence undertaken by the stockbroker prior to the customer’s alternative investment purchase.
FINRA Public Disclosure shows that Barndollar has been referenced in eight more customer initiated investment related disputes concerning accusations of his harmful activities while associated with Crown Capital Securities, JP Turner Company LLC and Newport Coast Securities. Barndollar is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $100,100.00 in damages supported by allegations of improper due diligence on the customer’s alternative investments in April of 2018. FINRA Arbitration No. 20-00201 (Apr. 9, 2020). According to the claim, Barndollar effected unsuitable direct investment sales. The claim alleges breach of contract on the customer’s investments in DPPs and LPs.
Barndollar 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 of negligence and insufficient due diligence on a non-traded real estate investment trust that the stockbroker sold at Crown Capital Securities. FINRA Arbitration No. 20-02107 (July 23, 2020). The claim alleges that the alternative investment was misrepresented by the stockbroker and that important information had not been disclosed to the customer.
On August 11, 2020, another customer filed an investment related FINRA securities arbitration claim involving Barndollar’s conduct where the customer requested more than $5,000.00 in damages supported by accusations of omissions and misrepresentation by Barndollar as it pertained to the customer’s variable annuity and alternative investment purchases at Crown Capital Securities. FINRA Arbitration No. 20-02551. The claim alleges unsuitable investments in oil and gas securities and a non-traded REIT.
Barndollar is also referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer sought compensatory damages based upon allegations of unsuitable and negligent alternative investment sales by Barndollar which caused damages. FINRA Arbitration No. 20-02683 (Aug. 28, 2020). The claim alleges that Barndollar made misrepresentations and omissions in regard to the nontraditional investments.
On June 16, 2021, a different customer initiated investment related FINRA securities arbitration claim regarding Barndollar’s conduct was settled for $45,000.00 in damages based upon accusations that Barndollar breached a fiduciary duty in reference to the customer’s investments in DPPs and LPs during the time that Barndollar was associated with Crown Capital Securities. FINRA Arbitration No. 20-01711. The claim states that the stockbroker failed to perform due diligence and that he executed alternative investment sales that caused the customer to experience illiquidity.
Barndollar has been registered with Crown Capital Securities since March 19, 2013. He is also an investment adviser representative of Crown Capital Securities as of April 2, 2013 and an investment adviser representative of Purepath Wealth Management as of June 2, 2014.
