Paul Cragg Larsen, of Naples, Florida, a stockbroker formerly registered with VSR Financial Services, Inc., is the subject of a customer initiated investment related arbitration claim on June 3, 2016, in which the customer requested $4,000,000.00 in damages based upon allegations that Larsen converted the customer’s monies that were intended for investments in real estate ventures. The customer further claimed that accounting documents were fabricated in furtherance of the scheme, where the customer was led to believe assets were invested in accordance with the customer’s instructions.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Larsen has been identified in sixteen more customer initiated investment related disputes pertaining to allegations of his wrongdoing while he was employed with VSR Financial Services, Inc. Particularly, on June 23, 2016, a customer initiated investment related written complaint involving Larsen’s conduct was settled for $19,000.00 in damages based upon allegations that he negligently handled the customer’s investment account, made misrepresentations to the customer, breached his fiduciary duties and committed fraud in regard to real estate securities and direct investment products that were effected in the customer’s investment account.
Moreover, on September 16, 2016, a customer filed an investment related written complaint involving Larsen’s conduct, where the customer requested $133,000.00 in damages based upon allegations that he negligently handled the customer’s investment account, breached his fiduciary duties, made misrepresentations to the customer, violated the Florida Securities Act, and committed fraud.
FINRA Public Disclosure further reveals that Larsen was barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into allegations of his unauthorized private securities transactions and outside business activities. Letter of Acceptance, Waiver and Consent, No. 2010024179001 (Dec. 7, 2011).
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com
To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com
