1-800-856-3352

Report – 7/21/17

1 – Gary Kenneth Rasmussen is registered with J.W. Cole Financial, and previously registered with Financial Advisors of America.  Rasmussen is believed to have been the subject of one or more customer complaints related to alleged recommendations of unsuitable investment products.  See: FINRA brokercheck.  If you are an investor who has suffered losses with Rasmussen, J.W. Cole Financial, or with Financial Advisors of America, relating to unsuitable investment products or any other investment transaction, please contact the Investment Loss Recovery Team at the Ciklin Lubitz & O’Connell Law Firm at 1-800-856-3352 for a no-cost consultation and review.  

2 – EnerVest Ltd. was reportedly a $2 billion private equity fund based in Houston, Texas.  After raising $1.3 billion from investors in 2013 and borrowing funds to invest in oil and gas wells before energy prices plummeted, the value of this fund appears to have collapsed.  If you are an investor who has suffered losses with EnerVest Ltd. or oil and gas related investments including stocks, bonds, mutual funds, or partnership interests, please contact the Investment Loss Recovery Team at the Ciklin Lubitz & O’Connell Law Firm at 1-800-856-3352 for a no-cost consultation and review.  

3 – Sean Mcelduff is registered with Hennion & Walsh.  Mcelduff is believed to have been the subject of a customer complaint related to alleged recommendations of unsuitable investment products including Puerto Rico municipal bonds.  See: FINRA brokercheck.  If you are an investor who has suffered losses with Mcelduff or Hennion & Walsh relating to unsuitable investment products or any other investment transactions involving Puerto Rico municipal bonds, please contact the Investment Loss Recovery Team at the Ciklin Lubitz & O’Connell Law Firm at 1-800-856-3352 for a no-cost consultation and review.  

4 – Terry Brodt of Red Bank, New Jersey was registered with Garden State Securities, Inc.  Brodt is believed to have been the subject of one or more customer complaints which may have alleged exercising discretion without written authorization or written approval, churning, and/or unauthorized trading.  See: FINRA brokercheck.  If you are an investor who has suffered losses with Brodt at Garden State Securities involving churning, unauthorized trading, or any other issues, please contact the Investment Loss Recovery Team at the Ciklin Lubitz & O’Connell Law Firm at 1-800-856-3352 for a no-cost consultation and review.  

5 – Scott Goldman is registered with Cambridge Investment Research, and previously registered with H. Beck, Inc.  Goldman is believed to have been the subject of one or more customer complaints related to alleged recommendations of unsuitable investments which may have involved concentration, leverage, and/or risky precious metal investments for elderly customers.  See: FINRA brokercheck.  If you are an investor who has suffered losses with Goldman, Cambridge Investment Research, or with H. Beck, Inc., relating to unsuitable investments, concentrated positions, leveraged investments, precious metal investments, questionable investments for elderly or retired investors, or any other investment investment transaction, please contact the Investment Loss Recovery Team at the Ciklin Lubitz & O’Connell Law Firm at 1-800-856-3352 for a no-cost consultation and review.  

6 – Elaine Marie Zito of Scottsdale, Arizona is registered with Newbridge Securities Corporation, and previously registered with Questar Capital Corporation and Woodbury Financial Services.  Zito is believed to have been the subject of one or more customer complaints related to allegations that may have involved recommendations of variable annuity, and/or mutual fund transactions, and possibly the alleged unauthorized use of discretion in a client account.  See: FINRA brokercheck.  If you are an investor who has suffered losses with Zito, Newbridge Securities, Questar Capital or Woodbury Financial relating to variable annuity, mutual fund investment products or any other investment transaction, please contact the Investment Loss Recovery Team at the Ciklin Lubitz & O’Connell Law Firm at 1-800-856-3352 for a no-cost consultation and review.  

7 – John Nelson Crook is registered with Prospera Financial Services, and previously registered with Raymond James & Associates.  Crook is believed to have been discharged from Raymond James in or about July 2015, and he is also believed to be the subject of at least one customer complaint related to allegations involving churning, unauthorized trading, unsuitable recommendations, and a breach of fiduciary duty.  See: FINRA brokercheck.  If you are an investor who has suffered losses with Crook, Prospera Financial, or with Raymond James, relating to unsuitable investments, churning, unauthorized trading, breach of fiduciary duty or any other investment transaction, please contact the Investment Loss Recovery Team at the Ciklin Lubitz & O’Connell Law Firm at 1-800-856-3352 for a no-cost consultation and review.

8 – On 7/19/17, The Orlando Sentinel reported that Justin Troy Spearman, a businessman accused of running a Ponzi scheme that took in more than $3.6 million from investors in central Florida was arrested.  Spearman was reportedly arrested on numerous fraud-related charges.  It is believed that he used fake documents to convince investors they were investing in gas and oil businesses in Texas.  It was reported that Spearman instead was using new investor funds to pay off old investors while spending lavishly on luxury cars, private planes and extravagant gifts.  According to the Orlando sentinel and related court and other public records, Spearman has been sued by at least one investor and was sentenced to 27 months in prison in July 2016 for another Ponzi scheme in Texas.  If you are an investor who has suffered losses based on a fraud or Ponzi scheme or you suspect that the advice of a stockbroker, financial consultant, or investment advisor, may be improper or fraudulent for any reason, please contact the Investment Loss Recovery Team at the Ciklin Lubitz & O’Connell Law Firm at 1-800-856-3352 for a no-cost consultation and review.

9 – On 7/19/17, the Wall Street Journal reported that the “fiduciary” rule has accelerated account shifts across the brokerage industry, noting that fee-based assets have increased along with an increase in client self-directed investment accounts.  If you are an investor who has suffered losses based on the suspected action or inaction on the part of a fiduciary, including a stockbroker, financial consultant, or investment advisor providing you with what you suspect may have been faulty or improper investment advice, please contact the Investment Loss Recovery Team at the Ciklin Lubitz & O’Connell Law Firm at 1-800-856-3352 for a no-cost consultation and review.

10 – On 7/21/17, AdvisorHub reported that the Pennsylvania Department of Banking and Securities fined Newbridge Securities of Boca Raton, Florida $499,000 for failing to maintain a reasonable system for applying and enforcing written procedures for sales of derivative securities by a Newbridge Securities agent from 2012-2016.  It is believed the Newbridge Securities agent may have been Austin Dutton, who was part of the Bridge Valley Financial Services office, an arm of Newbridge Securities.  The activities at issue are believed to involve the sales of real estate backed securities including real estate investment trusts (REITs) issued by firms controlled by Nicholas Schorsch including American Realty Capital Partners and/or Retail Centers of America.  Some of the investments sold by Newbridge Securities are hard for investors to liquidate or re-sell, or they cannot do so at or near the prices that were originally paid for those securities.  If you are an investor who has suffered losses in your account with Newbridge Securities relating to American Realty Capital Partners, Retail Centers of America, other REIT or real-estate oriented investments, or any other advice or investment product recommended by a stockbroker, financial consultant, or investment advisor associated with Newbridge Securities, please contact the Investment Loss Recovery Team at the Ciklin Lubitz & O’Connell Law Firm at 1-800-856-3352 for a no-cost consultation and review.