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 $84,000.00 in damages supported by allegations of misrepresentations and unsuitable investment recommendations having been made to the customer between December 5, 2012 and June 9, 2015 in regard to direct investment products. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02163 (Aug. 23, 2017).
FINRA Public Disclosure reveals that Trewitt is the subject of twelve additional customer initiated investment related disputes pertaining to allegations of his wrongdoing during the time that he was associated with VFG Securities, Inc. and Madison Avenue Securities, ten of which have been brought since February 3, 2017. In particular, on February 3, 2017, a customer filed an investment related written complaint regarding Trewitt’s activities, where the customer sought $50,000.00 in damages based upon accusations that Trewitt made unsuitable investment recommendations to the customer concerning private placements, real estate securities, oil & gas, and direct investment products.
Subsequently, a customer filed an investment related arbitration claim involving Trewitt’s conduct, in which the customer requested $350,000.00 in damages founded upon allegations that Trewitt promoted investments in a misleading fashion; made investment recommendations that were not suitable; over-concentrated the customer’s assets in speculative investments; and breached his fiduciary obligations to the customer in reference to the customer’s real estate security, oil & gas, direct participation program and certificate of deposit investments. FINRA Arbitration No. 17-00217 (Jan. 25, 2017).
Another customer filed an investment related arbitration claim regarding Trewitt’s activities, where the customer sought $300,000.00 in damages based upon allegations of suitability in regard to alternative investments, including asset-backed debt products, equipment leasing products and promissory note investments purchased by the customer from 2010 to 2015. FINRA Arbitration No. 17-00669 (Mar. 24, 2017). Further, a customer filed an investment related arbitration claim involving Trewitt’s conduct, in which the customer requested $800,000.00 in damages supported by accusations of breach of fiduciary duty and negligence pertaining to private placement securities. FINRA Arbitration No. 17-01412 (June 5, 2017). The customer additionally alleged that VFG Securities, Inc. failed to supervise Trewitt’s activities.
Trewitt is also the subject of an arbitration claim, where the customer sought $499,000.00 in damages based upon allegations of negligent supervision, breach of contract, and breach of fiduciary duty regarding private placements. FINRA Arbitration No. 17-01115 (May 1, 2017). Thereafter, a customer filed an investment related arbitration claim regarding Trewitt’s activities, in which the customer requested $400,000.00 in damages founded on accusations that between March 6, 2015 to April 9, 2015, Trewitt made unsuitable investment recommendations and misrepresentations with respect to the risk of non-traded real estate investment trusts. FINRA Arbitration No. 17-01669 (July 11, 2017). VFG was accused by the customer of failing to supervise Trewitt’s sales practices.
Between July 18, 2017 and August 1, 2017, three customer arbitration claims concerning Trewitt’s sales practices were filed, wherein customers collectively sought $750,000.00 in damages supported by allegations of negligence and breach of fiduciary duty involving investments in illiquid real estate investment trusts. FINRA Arbitration Nos. 17-01824 (July 18, 2017); 17-01883 (July 19, 2017); 17-02010 (Aug. 1, 2017). Moreover, a customer filed an investment related arbitration claim involving Trewitt’s conduct, where the customer requested $60,000.00 in damages based upon accusations of breach of contract and fiduciary duties, and negligence in the handling of the customer’s alternative investments. FINRA Arbitration No. 17-01922 (Aug. 14, 2017).
Trewitt’s registration with VFG Securities, Inc. was terminated on November 13, 2017.
Guiliano Law Group
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