Securities Lawyers Blog
Advisor Timothy Touloukian (Touloukian), currently employed by Paulson Investment Company LLC (Paulson Investment), has been subject to at least four customer complaints, two employment terminations for cause, four regulatory actions, and two judgement or tax liens during the course of his career. According to a BrokerCheck report some of the customer complaints concern private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk products.
In 2011 Touloukian was terminated by Advanced Equities, Inc. – a firm that was itself expelled from the securities industry over its sales practices – for selling a private equity investment to a non-qualified investors.
In January 2020 a customer complained that Touloukian violated the securities laws by alleging that Touloukian engaged in sales practice violations related mading material misrepresentations concerning an investment in a private placement. The claim alleges $500,000 and is currently pending.
In January 2020 another customer complained that Touloukian violated the securities laws by alleging that Touloukian engaged in sales practice violations related mading material misrepresentations concerning an investment in a private placement. The claim alleges $200,000 and is currently pending.
Private placement offerings are among the most speculative and costly investment products offered to retail investors. While the size of the private placement market is unknown, according to 2008 estimates, companies issued approximately $609 billion of securities through Regulation D offerings. Private placements allow many small companies to efficiently raise capital. However, regulators continue to find significant problems in the due diligence and sales efforts of some brokerage firms when selling private placements to investors. These problems include fraud, misrepresentations and omissions in sales materials and offering documents, conflicts of interest, and suitability abuses.