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Investor Tips to Avoid Losing Money in Private Placements and Alternative Investments

Private Placements are considered alternative investments and are issued under Regulation D under the Securities Act of 1933.  Regulation D contains rules for issuing securities that provide exemptions from the more rigorous Securities and Exchange Commission (SEC) registration requirements and allows companies to issue securities without normal disclosures. Investors who…

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FINRA Panel Awards Customer in A Claim Over the Erickson Retirement Communities Private Placement

Wisconsin based B.C. Ziegler & Co. (Ziegler) was recently hit with a $311,000 judgment in a decision made by a FINRA arbitration panel.  The claimant alleged negligent misrepresentation, suitability, negligence, failure to supervise, and violation of Wisconsin Uniform Securities Act. The claim related to the recommendation to purchase private placement…

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Senators Probe Broker Background Check Expungement Practices

A InvestmentNews article recently highlighted the efforts of two U.S. senators that have asked the Financial Industry Regulatory Authority (FINRA) to provide new details on the process that allows brokers to clean their disciplinary records of customer complaints.  Sen. Jack Reed (D-R.I.) and Sen. Chuck Grassley (R-Iowa) also said Wall…

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Jeffrey Isaacs of Investors Capital Corporation Suspended Over Unsuitable Sale of Securities

Broker Jeffrey M. Isaacs (Issacs) of Investors Capital Corporation (ICC) was recently suspended and sanctioned by The Financial Industry Regulatory Authority (FINRA) over allegations that Isaacs made negligent material misrepresentations of fact in connection with the unsuitable sale of two private placements to ICC customers.  In addition, after the customers…

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Maurice Chelliah of World Group Securities Barred Over Allegations of Improper Investment Recommendations

Maurice Joseph Chelliah (Chelliah) was recently barred from the financial industry by The Financial Industry Regulatory Authority (FINRA) over allegations that Chelliah converted $90,000 from two World Group Securities, Inc. (WGS) clients and made unsuitable recommendations to five WGS customers.  FINRA alleged that Chelliah recommended that these customers refinance their…

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David Kauffman of First Allied Barred Over Allegations of Sale of Private Placements

Broker David Charles Kauffman (Kauffman) was recently barred by The Financial Industry Regulatory Authority (FINRA) over his failure to respond to FINRA’s investigation over allegations that he engaged in personal private securities transactions, used unapproved email addresses, and introduced clients to individuals associated with non-approved investment opportunities. Kauffman began his…

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FINRA Bars Gevorg Daldumyan of Transamerica Over Allegations Concerning Condominium Cooperative Investments

Gevorg Daldumyan was recently barred from the financial industry by The Financial Industry Regulatory Authority (FINRA) over allegations that he failed to appear for testimony concerning condominium cooperative investments. Daldumyan was registered with World Group Securities, Inc. (WGS) from 2002 through January 2012.  Thereafter, Daldumyan was associated with Transamerica Financial…

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How to Find An FINRA Securities Attorney to Assist in Your Investment/Broker Case

You’ve gone over your account statements and start to suspect that your broker hasn’t invested your assets appropriately.  What should you do?  The first step is to compile all of your documents and correspondence with your broker.  You should collect your monthly account statements, opening account documents, and any written…

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Source Capital Group Employees Sanctioned Over Blue Ridge and Argyle Oil and Gas Private Placements

The Financial Industry Regulatory Authority (FINRA) recently sanctioned Source Capital Group (Source Capital) registered representatives Kevin Cline (Cline), Robert Burr (Burr), Vincent Christopher (Christopher), and Thomas Gilleland (Gilleland).  FINRA’s findings concerned allegations that the brokers failed to adequately disclose material facts and made sales through misstatements in oil and gas…

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