Arete Wealth Management

Broker Jason Lamb in Arete Wealth Management, LLC Firm Has Customer Complaint

February 23, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jason Lamb (Lamb), currently associated with Arete Wealth Management, LLC, has at least 10 disclosable events. These events include 10 customer complaints, alleging that Lamb recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $100,000.00 on December 02, 2024.

Client alleges unsuitable investment recommendation.

There are Recent Customer Complaints with Broker Michael Romano in Firm Arete Wealth Management, LLC

February 23, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Romano (Romano), previously associated with Arete Wealth Management, LLC, has at least 16 disclosable events. These events include 16 customer complaints, alleging that Romano recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $100,000.00 on December 02, 2024.

Client alleges unsuitable investment recommendation.

Broker Unbo Chung in Arete Wealth Management, LLC Firm Has Customer Complaint

February 14, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Unbo Chung (Chung) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Chung was employed by Arete Wealth Management, LLC at the time of the activity. If you have been a victim of Chung’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a pending customer complaint on January 17, 2025.

The controversy pertains to releases the SEC feels are misleading. These releases were not created, approved or disseminated by me or the firm.

Broker Jeffrey Larson in Arete Wealth Management, LLC Firm Has Customer Complaint

February 14, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Jeffrey Larson (Larson) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Larson was employed by Arete Wealth Management, LLC at the time of the activity. If you have been a victim of Larson’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a pending customer complaint on January 17, 2025.

Jeff Larson violated Exchange Act Sections 15(a) and 10(b) [15 U.S.C, 78o(a) and 78j(b)] and Rule 10b-5 thereunder [17 C.F.R. 275.10b-5]; violated Section 17(a) of the Securities Act of 1933 (‘Securities Act’) [15 U.S.C. 77q(a)]; violated Advisers Act Sections 206(1) and 206(2) [15, U.S.C. 80b-6(1) and 80b-6(2)] or, in the alternative, aided and abetted, Arete Advisors’ violations of Advisers Act Sections 206(1) and 206(2) [15 U.S.C. 80b-6(1) and 80b-6(2)]; and aided and abetted Arete Wealth’s violations of Exchange Act Section 17(a) [15 U.S.C. 78q(a)] and Rule 17a-4, thereunder [17 C.F.R. 240.17a-4].

There are Recent Customer Complaints with Broker Unbo Chung in Firm Arete Wealth Management, LLC

February 4, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Unbo Chung (Chung), currently associated with Arete Wealth Management, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Chung recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint on November 18, 2024.

Clients allege sale of unsuitable investments.

Alvery Bartlett Subject to Multiple Customer Complaints Over Alternative Investments

June 16, 2018 | by Staff Attorney

Current Arete Wealth Management, LLC (Arete Wealth) broker Alvery Bartlett (Bartlett) has been subject to three customer complaints. According to a BrokerCheck report many of the complaints concern alternative investments, private placements, and direct participation products (DPPs) such as non-traded real estate investment trusts (REITs) and oil and gas programs. The attorneys at Gana Weinstein LLP have extensive experience handling investor losses caused by these types of products.

In March 2018 a customer filed a complaint alleging that the investments purchased between 2003 and 2011 were unsuitable and were misrepresented to him. The client also alleged that the firm failed to conduct adequate due diligence on the investments and failed to supervise the representative. The claim is currently pending and alleges damages of $6,637,918.

Our firm often handles cases involving direct participation products, Non-Traded REITs, oil and gas offerings, equipment leasing products, and other alternative investments. These products are almost always unsuitable for investors. In addition, the brokers who sell them are paid additional commission in order to hype inferior quality investments which provides a perverse incentives by brokers to create an artificial market for products that no honest advisor would sell.

Investment Investigation: Sales of Adageo Energy Private Placements

February 5, 2016 | by Staff Attorney

The securities lawyers of Gana Weinstein LLP are investigating potential unsuitable investments and recommendations in a number of oil and gas related ventures including Adageo Energy. According to the company’s website Adageo Energy specializes in high-growth, high-return opportunities in the energy sector. The company’s focus includes the identification, acquisition, drilling, development, and operation of oil and gas properties. Adageo Energy is a sponsor of several oil and gas private placements.

One such issuance is Adageo Energy Partners, LP which according to SEC filings sought to raise $50 million and raised at least $31 million of that amount through brokerage firms including Direct Capital Securities, Inc., Madison Avenue Securities, Inc., WFP Securities, Inc., Arete Wealth Management, LLC, Newbridge Securities Corporation, Charter Pacific Securities, LLC, ePLANNING Securities, Inc., Sunset Financial Services, Inc., Jesup & Lamont Securities Corp., and Capital Guardian, LLC.

As reported in Reuters for issuers other than Adageo Energy, many of these types of private placement deals fail and investors take outsized risks compared to the scant compensation they are likely to receive. The issue with oil and gas private placements is two fold. First the much of the investor’s funds are eaten up by fees and costs and are never used for investment purposes. For instance and analysis of Atlas Energy LP found that the issuer typically charged between 15 percent and 20 percent in upfront fees from investors and paid brokers an additional 10 percent of the total offering in sales commissions. According to Reuters, investors only get to see 65-70% of their capital actually put to work on oil and gas projects.