Articles Posted in Alternative Investment

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Currently financial advisor Derek Stamos (Stamos), currently employed by brokerage firm Somerset Securities, 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 $70,000.00 on December 13, 2023.

Alleged unsuitable recommendation to purchase iCap Equity private placement. ICap Equities filed for bankruptcy on 9/29/2023.

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Currently financial advisor Andrew Murdoch (Murdoch), currently employed by brokerage firm Somerset Securities, INC. 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 settled customer complaint with a damage request of $168,000.00 on December 14, 2023.

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

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Previously financial advisor Peter Reinecke (Reinecke), previously employed by brokerage firm Saxony Securities, 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 $13,000,000.00 on January 04, 2024.

Risky and speculative private placement investments, fraud and negligence

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Previously financial advisor Richard Hand (Hand), previously employed by brokerage firm Commonwealth Financial Network 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 January 12, 2024.

Customer alleges representative recommended unsuitable investments in REITs during the time period 2014-2016

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Currently financial advisor Michael Risko (Risko), currently employed by brokerage firm Osaic Institutions, INC. 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 settled customer complaint with a damage request of $45,420.00 on January 13, 2024.

A paperwork and processing error negated the redemption of a non-traded REIT due to death for Q4-2022. Share redemptions were suspended for Q1-2023 in advance of going public

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Currently financial advisor Patrick Mendenhall (Mendenhall), currently employed by brokerage firm Usca Securities 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 $5,000,000.00 on January 12, 2024.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $3,000,000.00 on October 05, 2023.

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Previously financial advisor Brian Dunn (Dunn), previously employed by brokerage firm Mercury Investment Services 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 with a damage request of $2,000,000.00 on January 24, 2024.

Registered Representatives registered with Growth Capital Services, Inc. alleged to have sold fraudulent private placements to their customers. Customers filed suit and named me as a co-respondent.

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Previously financial advisor Edward Muster (Muster), previously employed by brokerage firm Herbert J. Sims & Co, INC. 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 $5,000,000.00 on January 26, 2024.

Alleged firm sold inappropriate private placements

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Currently financial advisor Diana Palmieri (Palmieri), currently employed by brokerage firm Vanderbilt Securities, 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 settled customer complaint with a damage request of $99,999.00 on February 08, 2024.

Clients claim investments into the non-traded REITS & BDCs between 2014-2019 were unsuitable and illiquid investments

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Currently financial advisor Arnold Mcdonald (Mcdonald), currently employed by brokerage firm Mcdonald Partners 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 with a damage request of $425,900.00 on February 21, 2024.

Alleged failure to conduct due diligence on a private placement and unsuitability.

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