REIT investment fraud lawyer Tag Archives

Advisor Dustin Shafer (Shafer), currently employed by Newbridge Securities Corporation (Newbridge Securities), has been subject to at least seven customer complaints and two tax liens or judgement during the course of his career. According to a BrokerCheck report one 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 January 2020 a customer complained that Shafer violated the securities laws by alleging that Shafer engaged in sales practice violations related to recommending an investment that was not explained and that was guaranteed a montly dividend. The claim alleges $175,000 and is currently pending.

In January 2020 a customer complained that Shafer violated the securities laws by alleging that Shafer engaged in sales practice violations related to recommending alternatives investment beginning in 2013 that were misrepresented. The claim alleges violations of Illinois securities laws, breach of fiduciary duty, negligence, and violation of FINRA rules. The claim alleges $454,000 in damages and is currently pending.

The law offices of Gana Weinstein LLP are investigating broker Douglas Hyer (Hyer), currently associated with First Allied Securities, Inc. (First Allied) out of Great Neck, New York. According to a BrokerCheck report, Hyer has been subject to at least four customer disputes and one termination for cause during his career. According to records kept by The Financial Industry Regulatory Authority (FINRA), the customer complaints allege that Hyer engaged in unsuitable sales of 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 April 2019 a customer alleged that from 2009 through 2012, Hyer recommended illiquid, risky and non-traded products that were unsuitable to the customer’s investment needs. The claim alleged over $5,000 in damages and settled for $15,000.

In February 2013 Hyer was permitted to resign from Next Financial Group, Inc. (Next Financial) after the firm found that Hyer failed to follow company policies and misused the social media.

Articles Tagged with REIT investment fraud lawyer

Dustin Shafer Has Complaints Over Alternative Investment Sales Practices

Broker Douglas Hyer Subject to Multiple Investment Complaints