Securities Lawyers Blog
The investment fraud lawyers of Gana Weinstein LLP are investigating regulatory complaints of broker Thomas Edward Gackle (Gackle). According to the BrokerCheck records kept by Financial Industry Regulatory Authority (FINRA) broker Thomas Edward Gackle was permanently barred in July 2016 from the securities industry for failing to appear for on-the-record testimony requested by FINRA during the course of an investigation. In addition, the broker has been subject to at least one customer complaint and one employment separation for cause among other claims. The customer complaint against Gackle involve direct participation products (DPPs) such as non-traded real estate investment trusts (REITs).
In April 2015, a customer filed a complaint alleging that the amount of income ($100,000.00) stated on the suitability form was invalid and an investment purchased March 2015 caused $1,000,000.00 in damages. This complaint is currently pending.
This customer complaint resulted in Gackle to resign from his position at Lowell & Company in April 2015. This was based on allegations of failure to disclose material levents prior to association with Lowell & Company, which was an order issued by the Kansas Bar for the indefinite suspension from practicing law in the state of Kansas. Gackle’s resignation preceded FINRA’s sanctions, barring him from securities industry.