Timothy Joseph Scanlon of Scottsdale, Arizona, a stockbroker associated with Arque Capital Ltd., was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $230,208.89 in damages based upon alleged breach of fiduciary duty, breach of contract, negligence, and violation of state and federal securities laws, in connection with the sale of alternative investments including GWG products when Scanlon was associated with Arque Capital Ltd. FINRA Arbitration No. 22-01967 (May 9, 2023).
FINRA Public Disclosure shows that Scanlon was referenced in six other customer initiated investment related disputes concerning his conduct while associated with securities broker dealers, including Arque Capital Ltd. On May 4, 2023, a customer initiated investment related FINRA securities arbitration claim involving Scanlon’s conduct was settled for $29,135.86 in damages based upon allegations that Scanlon failed to properly supervise, failed to conduct due diligence, and engaged in unsuitable trading in private placements when Scanlon was associated with Arque Capital Ltd. FINRA Arbitration No. 22-00217.
On May 24, 2023, a customer initiated investment related FINRA securities arbitration claim involving Scanlon’s conduct was settled for $7,610.69 in damages based upon allegations that Scanlon breached a contract, violated state securities statutes, and breached a fiduciary duty in connection with the sale of alternative investments. FINRA Arbitration No. 22-01601.
Scanlon was additionally referenced in a customer initiated investment related claim that was settled for $53,114.95 in damages. The claim alleges violations of federal securities laws, violations of Securities Act of Arizona, violations of California securities laws, violations of Arizona Consumer Fraud Act, breach of contract, fraud, breach of fiduciary duty, and negligence. These allegations were made in connection with the sale of alternative investments through Scanlon. FINRA Arbitration No. 22-01594 (May 4, 2023).
Scanlon was associated with Arque Capital Ltd. in Scottsdale, Arizona from October 26, 2011, to June 16, 2023. He has been associated with Independent Financial Group LLC in Scottsdale, Arizona, since June 26, 2023, as a stockbroker, and since June 23, 2023, as an investment adviser representative.
