Scott Vincent Kaup of Stuart Nebraska a stockbroker formerly employed by VSR Financial Services Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $42,500.00 in damages based upon accusations that (1) unfounded statements and omissions had been made to the customer concerning real estate securities and direct investments (2) investment recommendations made by the stockbroker were not suitable and (3) VSR Financial Services failed to supervise due diligence on investments sold to the customer which led the customer to experience losses. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-00309 (Aug. 12, 2019).
FINRA Public Disclosure confirms that Kaup is referenced in two more customer initiated investment related disputes which pertain to allegations of his violative conduct when he was employed by VSR Financial Services. Specifically, Kaup is the subject of a customer initiated investment related arbitration claim which was settled for $173,000.00 in damages founded on accusations that the customer’s account had been handled by Kaup with poor care; the customer had been defrauded; and fiduciary duties had been violated in reference to the customer’s investments in oil and gas products, real estate securities and direct participation programs or limited partnership interests. FINRA Arbitration No. 16-01088 (Nov. 17, 2017).
Also, a customer filed an investment related arbitration claim regarding Kaup’s activities in which the customer sought $998,000.00 in damages supported by allegations of the stockbroker’s failure to undertake due diligence on real estate security and direct investments prior to selling them; bad investment advice in regards to those products; and misrepresentations being made which induced the customer’s purchases. FINRA Arbitration No. 18-01244 (June 27, 2019).
Kaup’s registration with VSR Financial Services was terminated on September 1, 2016. Between September 1, 2016 and September 20, 2019, he was associated with Summit Brokerage Services Inc. Kaup has been associated with Cetera Advisor Networks since September 20, 2019.
