Securities Lawyers Blog
Previously financial advisor William Gammon (Gammon), previously employed by brokerage firm Centaurus Financial, Inc. has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or 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.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $450,000.00 on August 08, 2023.
Claimants allege that their former advisor recommended large, concentrated positions in high-risk, high-commission, and complex illiquid investment products and non-traded securities including various REITs, UITs and Closed-End Funds.
