Broker Ray Reese Facing Negligence Claims

Unsuitability, Misrepresentations and Omissions Are Among the Other Allegations

Ray Gene Reese, a Money Concepts Capital stockbroker and investment advisor based in Farmington, Missouri, is currently named in two pending Financial Industry Regulatory Authority (FINRA) arbitration claims seeking $600K in damages. Reese has been in the securities industry for 32 years.

At Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com), we represent investors with FINRA arbitration claims against the broker-dealers and registered representatives responsible for the financial harm they have suffered.

Contact us today at (800) 259-9010 if you lost money while working with Money Concepts Capital broker Ray Reese so that one of our experienced brokerage firm negligence attorneys can help you determine whether you have grounds for a case.

Money Concepts Capital Broker Named in Multiple Customer Disputes

According to BrokerCheck, here are the customer disputes involving Ray Reese:

11/2020: The claimant is seeking $400K in damages. Allegations include unsuitability, negligence, breach of contract, misrepresentations and omissions, breach of fiduciary duty, common law fraud, and violation of Missouri’s Securities Act.

6/2020: The customer, who inherited her father’s IRA, contends that its improper setup led to a tax liability. She claims she will lose the investment property at an 8% rate, resulting in about $100K in losses that could have been earned otherwise. The claimant is seeking $200K in damages.

5/2018: This customer claim seeking $75K in damages and alleging misrepresentations involving a non-public, illiquid transaction was denied.

2/2015: The claimant and his daughter alleged unsuitability involving investments in the Aztec Comanche Oil & Gas Drilling Program and ARC’s BDCA. The investor case was resolved for $95K.

6/2002: This customer claim alleges misrepresentations involving a variable life policy while Reese was a Pruco Securities broker. The dispute was closed due to a lack of action.
3/2009: A variable annuity claim alleging misrepresentations, again while Reese was as a Pruco Securities broker, was concluded with a $7,688.27 settlement.

Ray Reese previously worked at other brokerage firms, including The Prudential Insurance Company of America, Pruco Securities Corp., Hibbard Brown & Co., and Sherwood Capital.

Experienced Stockbroker Fraud Lawyers

Broker-dealers can be held financially accountable for the misconduct or negligence of their registered representatives when their customers lose money. SSEK Law Firm has represented thousands of investors over the years. Over 90% of our clients have obtained total or partial recovery with our help. Contact us today for legal advice and representation.