Paul Thomas Pavelski, of Antioch, Illinois, a stockbroker registered with Landolt Securities Inc., was the subject of a customer initiated investment related complaint filed on June 6, 2024. The customer requested $100,000.00 in damages, alleging misrepresentations and omissions of material fact, unsuitable investment recommendations, failure to conduct due diligence, and violations of securities industry rules related to a July 2020 purchase of GWG Holdings Class L Bonds. GWG entered bankruptcy in April 2022. On August 9, 2024, the matter was resolved through a settlement in which Landolt Securities paid $18,500.00 to the customer.
FINRA Public Disclosure shows that Pavelski has been identified in three additional customer initiated investment related disputes containing allegations of his conduct while associated with securities broker dealers. On November 25, 2008, a customer initiated investment related complaint was filed about Pavelski, alleging that on October 3, 2007, Landolt Securities and Pavelski were informed that a new person was appointed for the customer’s account. The customer also alleged that Landolt Securities was not entitled to receive 12(B)-1 fees from mutual fund distributors. The customer requested $104,887.52 in damages. On September 30, 2009, the matter was resolved through a settlement in which Landolt Securities paid $75,000.00 to the customer. Civil Action No. 1:08-CV-06566.
Additionally, on May 28, 2002, a customer initiated investment related securities arbitration claim was filed about Pavelski, alleging unsuitable recommendations in mutual funds that primarily held low-grade bonds. The customer requested $8,503.34 in damages. On February 5, 2003, the matter was resolved through a $5,325.00 payment to the customer. NASD Arbitration No. 02-02644.
On May 18, 2022, a customer filed an investment related complaint alleging that an investment had more risk than she agreed to. The customer requested $50,000.00 in damages. On September 13, 2022, Landolt Securities denied the complaint.
Pavelski was associated with Landolt Securities Inc. from September 30, 2005, to March 14, 2024, as both a stockbroker and investment advisor representative. He has been associated with Morgan Stanley since February 13, 2024, as both a stockbroker and investment advisor representative.
