Investment Loss Attorneys

Senior Retirees Seek Up to $1M in Broker Fraud Lawsuit Against Arkadios Capital 

Georgia Broker David Curry Was Their Longtime Financial Advisor 

Shepherd Smith Edwards and Kantas Investment Loss Attorneys (investorlawyers.com) are representing two investors who are suing Arkadios Capital and their longtime financial advisor David Griswold Curry over losses they sustained in alternative investments. The claimants are an older couple who suffered over $500K in losses, not to mention investment fees, lost opportunity, and other costs.

In their Financial Industry Regulatory Authority (FINRA) arbitration claim, our clients are also pursuing up to $1M in damages. Curry, an Arkadios broker since 2017, is also an EPG Wealth Management investment adviser. Previous to that he was registered with ACG Wealth.

These retirees’ broker fraud claim revolves around alleged self-dealing and conflicted actions by Curry and Arkadios. The claimants contend that their investment losses demonstrate what can happen when a broker and their firm prioritize earning substantial commissions over making appropriate investment recommendations.

Not only do the respondents appear to have mismanaged our clients’ accounts, including allegedly concentrating their assets in a handful of speculative, illiquid alternative investments, but also there was purported unsuitability, misrepresentations and omissions, breach of judiciary, negligence, breach of contract, and other broker misconduct.

Alternative Investments That Arkadios Sold To These Georgia Retirees Include:

• American Capital Healthcare Trust II (ARC Healthcare)—a now failed investment.
• CNL Healthcare Properties—this non-traded real estate investment trust (non-traded REIT) has since lost much of its value.
• GPB Holdings II—this private placement fund, run by business development company (BDC) GPB Capital Holdings, was part of a mass Ponzi scam.

Non-traded REITs and BDCs are, at their core, incredibly high-risk, and they should only be recommended to experienced investors who understand what they involve. Such alternative investments are developed almost exclusively to be sold by independent brokerage firms like Arkadios, which pay up to 90% of commissions to brokers.

Because of such margins, these broker-dealers have to sell higher commission products in order to stay in business. Not only that but there may be an additional due diligence fee on top of the commission.  It doesn’t help that many non-traded REITs and BDCs are essentially Ponzi scams. Investors think they are earning “distributions,” when, in fact, that is other investors’ money.

Skilled Alternative Investment Loss Attorneys

Unfortunately, there are many retirees whose financial advisors sell them unsuitable, too-risky alternative investments because they pay them more in commissions. When this happens, it is the older investors and their loved ones who end up suffering. You want to work with savvy alternative investment fraud attorneys who know how to determine whether broker misconduct or negligence played a part in your investment losses.

Shepherd Smith Edwards and Kantas Investment Loss Attorneys represent investors against Wall Street firms, independent brokerage firms, regional broker-dealers, and local firms. We also work with investors to recoup their losses from registered investment advisers.

Over the decades, more than 90% of our clients have received full or partial financial recovery. Call our Investment Loss Attorneys at (800) 259-9010 or fill out this form.