Risky, Illiquid Business Development Company Was Not Suitable for Many Investors If you are someone who invested in the Sierra Income Corporation, you may have lost money. This business development company (BDC) is a non-traded investment. Earlier this year, Sierra Income suffered losses after its announced merger with Medley Capital…
High Net Worth Individual Investor Alleges That UBS Group AG Persuaded Him To Buy On Margin Guo Wengui, a rich Chinese businessman exiled in New York, has filed a lawsuit against UBS Financial Group after losing $500M. Wengui contends that the bank pressured him into borrowing funds to invest in…
Ex-Concorde Investment Services Broker Allegedly Made Negligent Recommendations Robert Scott Smith, the President of Peregrine Private Capital in Newberg, Oregon, and a former Concorde Investment Services, is named in multiple Financial Industry Regulatory Authority (FINRA) arbitration claims by former customers that invested in GPB private placement funds at his recommendation. …
Investment Advisor Allegedly Defrauded Senior Investors to Fund Lavish Lifestyle The US Securities and Exchange Commission (SEC) has filed charges against Mark Joseph Boucher, a California-based investment adviser, and his firm, Strategic Wealth Advisor Group Services. Boucher and Strategic Wealth Advisor Group are accused of stealing $2.2M from older customers,…
Pending Customer Complaints Seek $250K and $1M, Respectively If you or someone you love lost money while working with stockbroker Walter Roland Valenzuela, our investor attorneys want to speak with you. Valenzuela, who became a Kestra Investment Services broker this year, has been the subject of 10 customer complaints during…
FINRA Bars Ex-Registered Rep, Who Wouldn’t Cooperate In Investigation Christopher Duke Bennett, an ex-Hilliard Lyons broker, is barred by the Financial Industry Regulatory Authority (FINRA). Bennett has been the subject of 15 numerous securities fraud customer disputes over the years. The bar comes after he refused to cooperate in the…
Former National Securities Stockbroker Named in Over 12 Customer Disputes Thomas Edison Kelly, Jr., an Aegis Capital broker, has been the subject of a number of customer complaints between 2013 and 2020, three of which are still pending. Prior to working for Aegis Capital in 2018, Kelly was a National…
K-1 Tax Documents Delayed Past Tax Deadline In the latest GPB Capital news, the firm has notified investors of its GP Holdings II, LP fund that they won’t be getting their 2019 Schedule K-1 tax documents ahead of or by July 15, 2020, which is when US tax filings are…
Diamond and Other Kalos Capital Brokers Are Accused of Broker Fraud Arni Diamond, who is now a registered representative with Dempsey Lord Smith, is currently the subject of a pending $200K broker fraud claim accusing him of making unsuitable alternative investment recommendations reportedly while he was a Kalos Capital broker. …
National Securities Broker Investigated Over Unsuitable Investment Recommendations Our broker fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law firm) are looking into claims by investors who suspect that National Securities stockbroker Michael Burkoff recommended investments that were unsuitable for them. Burkoff is a registered representative with National Securities.…