Securities Lawyers Blog
Advisor David Bibo (Bibo), currently employed by brokerage firm Western International Securities, Inc. (Western International) has been subject to at least four customer complaints, one termination for cause, and two criminal matters during the course of his career. According to a BrokerCheck report several of the customer complaints concern 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 September 2020 a customer complained that Bibo violated the securities laws by alleging that Bibo made misleading recommendations and unsuitable recommendations in alternative investments. The claim alleges $300,000 damages, and is currently pending.
In December 2019 a customer complained that Bibo violated the securities laws by alleging that Bibo made unsuitable recommendations in alternative investments. The claim alleges $1,500,000 damages, and is currently pending.
In May 2019 a customer complained that Bibo violated the securities laws by alleging that Bibo made an unreasonable investment. The claim alleges $50,000 damages and was denied by the firm.