Joseph Patrick Roop (also known as Joepat Roop), of Belmont, North Carolina, a stockbroker formerly registered with Kalos Capital Inc., is the subject of a customer initiated investment related written complaint on August 5, 2021, where the customer sought compensatory damages supported by allegations of unsuitable investment recommendations of real estate security products by Roop while he was registered with Kalos Capital.
Roop has been identified in eleven more customer initiated investment related disputes containing accusations of his wrongdoing during the time that he was employed by securities broker dealers, including Kalos Capital and Banc of America Investment Services Inc. FINRA Public Disclosure shows that a customer initiated investment related complaint concerning Roop’s activities was settled for $25,000.00 in damages based upon allegations of Roop’s excessive trading of options and closed-end funds when he was associated with Banc of America Investment Services. The complaint alleges that omissions and misrepresentations were made by Roop concerning the securities transactions.
Roop is referenced in a different customer initiated investment related FINRA securities arbitration claim which was resolved for $90,000.00 in damages founded on accusations of negligence by Roop relating to the customer’s purchases of alternative investments, including direct participation program interests and limited partnership interests, while Roop was employed by Kalos Capital. FINRA Arbitration No. 18-03317 (February 4, 2019).
Roop is also the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $175,000.00 in damages supported by allegations of unsuitable alternative investments, including oil and gas securities, between November of 2012 and May of 2017. FINRA Arbitration No. 19-01140 (May 5, 2020). On September 21, 2020, another customer filed an investment related complaint regarding Roop’s conduct. The customer requested $10,000.00 in damages based on accusations of them not being told by Roop about the illiquidity of a direct investment.
Roop is referenced in a different customer initiated investment related FINRA securities arbitration claim which was resolved for $25,000.00 in damages founded on allegations of the customer receiving unsuitable recommendations from Roop as it pertained to common and preferred stock, DPPs, LPs, and real estate securities. FINRA Arbitration No. 20-04001 (January 18, 2021). The claim alleges that the customer’s account was overconcentrated in alternative investments.
On April 27, 2021, another customer initiated investment related complaint involving Roop’s activities was settled for $14,999.00 in damages supported by accusations of a breach of fiduciary duty and breach of contract by Roop during the period that he was registered with Kalos Capital Inc. According to the complaint, Roop placed the customer in unsuitable investments, including business development corporations, real estate securities, and oil and gas investments.
Roop was associated with Kalos Capital Inc. between April 1, 2009, and July 22, 2019. He was employed by Dempsey Lord Smith LLC between July 22, 2019, and September 21, 2021.