Alternative Investment

Broker Michael Taglich in Taglich Brothers, Inc. Firm Has Customer Complaint

March 23, 2025 | by Staff Attorney

Currently financial advisor Michael Taglich (Taglich), currently employed by brokerage firm Taglich Brothers, Inc. has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $876,101.98 on September 06, 2024.

The arbitration was filed September 2024 almost 9 years after the last investment with Taglich Brothers, Inc. (TBI). The Claimant is alleging the Respondents are responsible for his current financial circumstances 9 years after the last investment made through TBI. The Claimant, himself, completed all the paperwork, wrote and signed detailed and precise instructions for investments in the private placement transactions made through TBI during the 11 years. There was no fraud and no malfeasance on behalf of the Respondents. Michael Taglich did not engage in sales practices with the Claimant nor did he have direct contact with the Claimant. The Claimant, a successful workmen’s compensation plaintiff’s attorney, made investments in several private placements through TBI simultaneously placing unsolicited orders for trading in equities listed on the stock market. The Claimant, a practicing attorney, breached his legal fiduciary obligations in handling his mother’s brokerage accounts, knowingly committed fraud representing in writing, including, but not limited to, his financial ability to invest in the private placements, his understanding of the risks of the investments, his knowledge of the securities markets, which he knew would be read and was relied upon by the Respondents and the companies he invested in.

There are Recent Customer Complaints with Broker Thomas Hamlin in Firm Somerset Securities, Inc.

March 22, 2025 | by Staff Attorney

Currently financial advisor Thomas Hamlin (Hamlin), currently employed by brokerage firm Somerset Securities, Inc. has been subject to at least 9 disclosable events. These events include 9 customer complaints. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $650,000.00 on September 09, 2024.

Alleged unsuitable recommendation to purchase iCap Equities private placement. iCap Equities filed for bankruptcy on 9/12/2023.

Broker Christopher Robinson in LPL Financial LLC Firm Has Customer Complaint

March 20, 2025 | by Staff Attorney

Currently financial advisor Christopher Robinson (Robinson), currently employed by brokerage firm LPL Financial LLC has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint on September 16, 2024.

Claimants allege that between 2018 and 2024, representative made unsuitable investments in REITs.

Broker Peter Barry in Raymond James & Associates, Inc. Firm Has Customer Complaint

March 19, 2025 | by Staff Attorney

Currently financial advisor Peter Barry (Barry), currently employed by brokerage firm Raymond James & Associates, Inc. has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,428,201.00 on September 17, 2024.

Claimants allege FA invested them in an unsuitable and high-risk portfolio that included alternative investments, micro-cap and small-cap securities, and REITs; improperly held bonds and other fixed-income securities for short periods; improperly concentrated them in certain investments; engaged in poor cash management; improperly recommended a securities-backed line of credit to them; and charged excessive fees and commissions.

There are Recent Customer Complaints with Broker Rickey Tiedemann in Firm Berthel, Fisher & Company Financial Services, Inc.

March 19, 2025 | by Staff Attorney

Currently financial advisor Rickey Tiedemann (Tiedemann), currently employed by brokerage firm Berthel, Fisher & Company Financial Services, Inc. has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $35,000.00 on September 16, 2024.

The client alleges the two investments he purchased in 2013 & 2014 were negligent and improper recommendations that left him exposed to unnecessary investment losses in illiquid investment products and non-traded securities.

There are Recent Customer Complaints with Broker Judith Dolle in Firm LPL Financial LLC

March 18, 2025 | by Staff Attorney

Previously financial advisor Judith Dolle (Dolle), previously employed by brokerage firm LPL Financial LLC has been subject to at least 2 disclosable events. These events include 2 customer complaints. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $750,000.00 on September 19, 2024.

Claimants allege representative made an unsuitable investment in a non-traded REIT. Time period is September 2015. (please do not provide an end date)

There are Recent Customer Complaints with Broker Evan Katz in Firm Stonehaven, LLC

March 16, 2025 | by Staff Attorney

Previously financial advisor Evan Katz (Katz), previously employed by brokerage firm Stonehaven, LLC has been subject to at least one disclosable event. These events include one tax lien. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a final customer complaint on September 27, 2024.

The Securities and Exchange Commission (‘Commission’) deems it appropriate and in the public interest that cease-and-desist proceedings be, and hereby are, instituted against Evan H. Katz (‘Respondent’). In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement which the Commission has determined to accept. The commission finds that This matter arises out of misrepresentations in the private placement memorandum (‘PPM’) and marketing materials for the Crawford Ventures Absolute Return Fund, LP (the ‘Fund’), a currency trading fund that raised more than $16 million from investors. The Fund’s PPM and marketing materials claimed that the Fund’s currency trading strategy would mirror a successful strategy previously used by two of the Fund manager’s principals-brothers Akshay and Dev Kamboj (the ‘Kamboj brothers’)-in Separately Managed Accounts (‘SMA’). As proof of the SMA results, prospective investors were provided with an ‘Audit Report’ and a ‘Performance Audit’ purportedly issued by an audit and consulting firm (‘the Auditor’) based in Australia. In reality, the Auditor had not audited the SMAs and the Audit Report and the Performance Audit had been forged by the Kamboj brothers. Katz, a co-founder of the Fund, provided to certain prospective investors the forged materials that the Kamboj brothers furnished. While the Kamboj brothers hid their conduct from Katz, he failed to take reasonable steps to confirm the legitimacy of the Audit Report and the Performance Audit in violation of Sections 17(a)(2) and (3) of the Securities Act.

There are Recent Customer Complaints with Broker Jay Geaslen in Firm Avantax Investment Services, Inc.

March 16, 2025 | by Staff Attorney

Currently financial advisor Jay Geaslen (Geaslen), currently employed by brokerage firm Avantax Investment Services, Inc. has been subject to at least 3 disclosable events. These events include 2 customer complaints, one tax lien. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $500,000.00 on September 30, 2024.

Claimants allege that they were recommended unsuitable investments, including leveraged structed notes and a non-traded REIT, and sustained losses as a result.

There are Recent Customer Complaints with Broker Gustavo Dolfino in Firm Silver Leaf Partners, LLC

March 11, 2025 | by Staff Attorney

Previously financial advisor Gustavo Dolfino (Dolfino), previously employed by brokerage firm Silver Leaf Partners, LLC has been subject to at least one disclosable event. These events include one tax lien. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a final customer complaint on October 15, 2024.

The Securities and Exchange Commission deems it appropriate and in the public interest that public administrative and cease-and-desist proceedings be, and hereby are, instituted against Gustavo Dolfino (‘Respondent’ or ‘Dolfino’). In anticipation of the institution of these proceedings, Dolfino has submitted an Offer of Settlement which the Commission has determined to accept. The Commission finds that These proceedings concern material misrepresentations Dolfino made to actual and prospective investors in Student Global, LLC (‘Student Global’), an education-tech start-up. Dolfino was the founder and Chief Executive Officer (‘CEO’) of Student Global. Between 2016 and 2022 (the ‘Relevant Period’), Dolfino raised approximately $20.6 million dollars from investors by selling them membership interests in Student Global. To make the investment opportunity appear more attractive, Dolfino made material misrepresentations to investors concerning his prior entrepreneurial success, his own investment in Student Global, and his net worth. Specifically, Dolfino told investors that he had sold an internet-based pharmaceutical company, founded and sold a hedge fund, personally invested millions of dollars in Student Global, and that he was worth hundreds of millions of dollars. None of this was true. Dolfino dissolved Student Global in November 2023 after it ran out of money to finance its operations. Student Global’s investors never received any distribution or other return on their investment, and Student Global’s membership interests are now worthless. As a result of his conduct, Dolfino willfully violated Section 17(a) of the Securities Act, and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.

There are Recent Customer Complaints with Broker Gary Arnold in Firm Investment Network, Inc.

March 11, 2025 | by Staff Attorney

Currently financial advisor Gary Arnold (Arnold), currently employed by brokerage firm Investment Network, Inc. has been subject to at least one disclosable event. These events include one tax lien. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a final customer complaint on October 16, 2024.

Without admitting or denying the findings, the firm and Arnold consented to the sanctions and to the entry of findings that the firm and Arnold failed to establish, maintain, and enforce a supervisory system, including WSPs, reasonably designed to achieve compliance with Reg BI and FINRA rules relating to the sale of private placements and identifying and addressing potentially excessive trading. The findings stated that Arnold failed to update the firm WSPs to include any written policies and procedures regarding private placements and as a result, did not designate a supervisor with responsibility for supervising private placement offerings. The firm’s WSPs do not provide guidance about how to identify accounts that are excessively traded. Further, the firm has no reports or alerts designed to identify factors that would indicate excessive trading, instead relying primarily on a daily, manual trade-blotter review. As a result, the firm willfully violated Reg BI by failing to comply with Reg BI’s Compliance Obligation, set forth at Exchange Act Rule 15l- 1(a)(2)(iv). The findings also stated that the firm and Arnold failed to establish written policies and procedures reasonably designed to achieve compliance with Reg BI. Despite awareness of Reg BI’s June 30, 2020, implementation date, Arnold never updated the firm’s WSPs to include policies or procedures regarding compliance with Reg BI’s requirements. Therefore, the firm willfully violated Reg BI by failing to comply with its compliance obligation.