Mark Andrew Trewitt of Plano Texas a stockbroker formerly registered with VFG Securities Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $150,000.00 in damages based upon allegations that the customer had been placed into bad alternative investments and that misrepresentations had been made to the customer concerning those securities during the time that Trewitt was associated with VFG Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-03424 (Nov. 18, 2019). According to the claim, real estate securities, oil and gas products, direct participation program interests and limited partnership interests were not suitable for the customer.
FINRA Public Disclosure confirms that Trewitt has been identified in seventeen additional customer initiated investment related disputes concerning accusations of his misconduct while employed by VFG Securities and Madison Avenue Securities. On April 13, 2018, a customer initiated investment related arbitration claim concerning Trewitt’s activities was resolved for $139,645.00 in damages founded on accusations that investment recommendations made to the customer were unsuitable and had caused the customer to sustain losses on non-traded real estate investment trusts. FINRA Arbitration No. 17-01669. The claim alleges that misrepresentations were made to the customer concerning the alternative investments and that the customer’s investment purchases had not been supervised by VFG Securities.
Trewitt has been referenced in a customer initiated investment related arbitration claim which was settled for $101,576.00 in damages supported by allegations of the customer’s account having been overconcentrated in bad alternative investments including equipment leasing securities and asset backed debt products. FINRA Arbitration No. 17-00669 (Apr. 13, 2018). On July 10, 2018, another customer filed an investment related arbitration claim pertaining to Trewitt’s conduct in which the customer requested $100,000.00 in damages supported by allegations of bad investment recommendations and overconcentration of the customer’s assets in illiquid and inappropriate alternative investments during the period in which Trewitt was employed by VFG Securities. FINRA Arbitration No. 18-02324 (July 10, 2018).
Trewitt is also the subject of a customer initiated investment related arbitration claim where the customer sought $1,954.304.00 in damages based upon accusations of suitability relating to direct investments, annuities and promissory notes transactions effected during the period in which Trewitt was registered with VFG Securities and Madison Avenue Securities. FINRA Arbitration No. 18-03208 (Oct. 6, 2018).
On June 15, 2019, another customer initiated investment related arbitration claim involving Trewitt’s conduct was settled for $25,000.00 in damages based upon allegations that DPP and LP interests as well as annuities sold by Trewitt had failed to be appropriate for the VFG Securities customer and had caused losses because of an overconcentration of the customer’s account in those speculative investments. FINRA Arbitration No. 18-02181. The stockbroker is also the subject of a customer initiated investment related arbitration claim which was settled for $25,000.00 in damages based upon allegations of the customer’s account being saturated in investments which were inappropriate for the customer. FINRA Arbitration No. 18-02181 (June 15, 2019). The claim alleges that the customer was sold investments in oil and gas and real estate among other volatile sectors.
Trewitt has also been sanctioned by Texas State Securities Board according to an Order based on findings of customer complaints alleging that illiquid and risky securities were recommended by Trewitt without him possessing an adequate foundation to believe that his advice was appropriate. Case No. REG-SUS-04 (June 6, 2019). Texas State Securities Board found that this constituted an equitable practice in the sale of securities.
Trewitt’s employment with VFG Securities was terminated on November 13, 2017.
