alternative investment fraud attorney Tag Archives

Advisor Bryan Benson Has Customer Complaint Over Alternative Investments

June 29, 2020 | by Staff Attorney

Advisor Bryan Benson (Benson), formerly employed by Wells Fargo Clearing Services, LLC (Wells Fargo) has been subject to at least one customer complaint and one regulatory action during the course of his career. According to a BrokerCheck report the customer complaint concerns alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

In April 2020 FINRA barred Benson after he consented to sanctions and findings that he refused to provide information and documents that were requested by FINRA in connection with an investigation into an investment-related customer complaint. It is unclear the nature of the FINRA complaint that led to Benson’s bar from the industry

In April 2017 a customer complained that Benson violated the securities laws by alleging that Benson engaged in sales practice violations related to unsuitable investments concerning DPPs and limited partnership interests. The claim settled for $415,000.

Advisor Robert Burns Has Complaints Over Altnerative Investment Sales

December 17, 2019 | by Staff Attorney

Advisor Robert Burns (Burns), currently employed by Cetera Advisor Networks LLC (Cetera Advisor) has been subject to at least two customer complaints during the course of his career. According to a BrokerCheck report the customer complaints concerns alternative investments such as direct participation products (DPPs) like non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and equipment leasing programs. The attorneys at Gana Weinstein LLP have represented dozens of investors who suffered losses caused by these types of high risk, low reward products.

Burns’ customers complain that they lost money investing in products such as Penneco 10, Carter Validus, GMI, Cypress, KBS REIT, Resource Real Estate, and UDF IV. UDF has been accused of being an investment fraud scheme.

In August 2019 a customer complained that Burns violated the securities laws by alleging that Burns recommended an overconcentration and unsuitable investments in alternative products and alleged the firm failed to do due diligence of the alternative investments. The claim alleges $500,000 in damages and is currently pending.

In August 2018 a customer complained that Burns violated the securities laws by alleging that Burns recommended unsuitable investments in alternative products. The claim settled for $150,000.

Cetera Advisor Donna Hines Subject to Complaints Over REITs and Alternative Investments

December 29, 2018 | by Staff Attorney

Advisor Donna Hines (Hines), currently employed by Cetera Advisors LLC (Cetera) has been subject to at least four customer complaints. According to a BrokerCheck report the customer complaints concern alternative investments and direct participation products (DPPs) such as non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and equipment leasing programs. The attorneys at Gana Weinstein LLP have extensive experience handling investor losses caused by these types of products.

In June 2018 a customer filed a complaint alleging that Hines violated the securities laws by alleging unsuitable investments from 2005 through 2018 and negligence, breach of fiduciary duty, misrepresentations, and common law fraud concerning alternative investments. The claim alleged $142,026 in damages and the claim is currently pending.

In December 2015 a customer filed a complaint alleging that Hines violated the securities laws by alleging negligence, misrepresentations, concerning alternative investments. The claim alleged $340,000 in damages and settled for $100,000.