Wealth Enhancement & Preservation CEO Named in Two Pending Investor Claims
Triad Advisors stockbroker, Darrin Stuart Cohen, is currently the subject of two pending Financial Industry Regulatory Authority (FINRA) arbitration claims from customers collectively seeking $600K in damages. The allegations involve the unsuitability of investments, including alternative investments, that were sold to them.
Cohen is also the CEO of Wealth Enhancement & Preservation in Alpharetta, Georgia and a registered investment advisor for Red Triangle, LLC in Charleston, South Carolina.
Triad Advisors is one of the broker-dealers whose registered representatives sold GPB Capital Holdings private placements, which are alternative investments, to its customers. GPB Capital Holdings is now accused of operating an over $1.5B Ponzi scam, which earned brokerage firms millions of dollars while causing investors significant investment losses, sometimes in the six- or seven- figures.
Our GPB private placement lawyers have been looking into claims involving Triad Advisors brokers who sold these investments to customers. If you suffered losses after Triad Advisors registered representative Darrin Cohen or another broker sold you investments in one of the GPB funds or any other investments, contact our securities litigation law firm (SSEK Law Firm at investorlawyers.com) today.
What are the Two Pending Cases Against the Triad Advisors Broker?
Two pending customer disputes naming Darrin Cohen are currently in process. The claimants in these disputes are claiming the following:
- 3/2020: Claimants allege unsuitability. They are seeking $400K in damages.
- 3/2020: Customers allege unsuitable investments over a number of alternative investments sold to them. They are seeking $200K in damages.
Darrin Cohen has worked for 23 years in the industry. Other financial firms where he has been registered either as a broker or investment advisor include Kovak Securities, Resource Horizons Group, OneAmerica Securities, Mony Securities, Waddell & Reed, The Advisors Group, Prudential Securities Corp., and Edward D. Jones & Co.
What Are Alternative Investments?
An alternative investment is an investment that isn’t a stock or bond. They tend to be complex investments that aren’t regulated much and they can be risky, complex, volatile, and illiquid. They often charge substantial fees and costs, including commissions, and they are not suitable for every investor, including many retirees and other retail investors.
GPB Capital Holdings’ Investors Have Suffered Huge Losses
GPB Capital Holdings is an alternative asset firm that mainly invests in auto dealerships and waste management. Investors bought into their private placements in several GPB limited partnerships, including:
- GPB Holdings
- GPB Holdings II
- GPB Holdings III
- GPB Automotive Portfolio
- GPB Cold Storage
- GPB Waste Management, and other GPB funds
Now, these funds have plunged significantly in value. Not only that but GPB Capital Holdings is under investigation by FINRA, the Securities and Exchange Commission (SEC), the Federal Bureau of Investigation (FBI) and others for allegedly operating a complex Ponzi scheme.
Experienced GPB Private Placement Fraud Law Firm
Investors have since filed their FINRA arbitration claims against the financial advisors and their broker-dealers that sold them their GPB private placements, which are likely to have lost all value by now. SSEK Law Firm has been zealously pursuing GPB investment fraud cases for many of these investors against Triad Advisors, Kalos Capital, Ameriprise, Arkadios Capital, Pruco Securities and other firms.
For more than 30 years, SSEK Law Firm has represented thousands of investors, recovering many millions of dollars on our clients’ behalf. Contact us today at (800) 259-9010 or by using our contact form for your free, no-obligation case consultation.