Ameriprise Broker Mark Joseph Sachse Discharged and Barred Following Allegations of Fraud and Misconduct
Mark Joseph Sachse is a previously registered broker and investment adviser who has been barred by FINRA following allegations of violating company policies and recommending unsuitable investments to his clients.
On March 5, a class action complaint alleging securities fraud and breach of fiduciary duty was filed against Sachse. It was alleged that Mr. Sachse recommended unsuitable investments including trading on margin and engaged in unauthorized trading. The client alleges that Mr. Sachse made false and fraudulent statements and failed to disclose material information. This allegation is pending for $450,000 in requested damages.
Mr. Sachse was discharged from Ameriprise Financial Services, Inc. on March 22, 2018 following policy violations related to code of conduct, including impersonation of home office personnel and providing misleading information to a client. The following July, Mr. Sachse was barred in all capacities by FINRA following failure to request termination of his suspension within three months of the date of notice of suspension.
Individual investors who suffered losses working with Mark Joseph Sachse should consult with a securities attorney to evaluate their rights to determine the best course of action to recover their losses. Investors who file their own individual claim frequently obtain significantly higher recoveries than investors who simply participate as passive participants in class actions.
What Our Clients Say
Below are some of the emails and letters that our clients have sent us.
At a time in our life when we were most vulnerable we lost control of our finances. We fell victim to a broker that took huge commissions and did not disclose that we were not able to access our money. Peter Mougey and his wonderful staff worked with us to make us whole again and got our money released. I cannot say enough about their work ethic, professionalism, and kindness during this stressful time for us. We had a 100% positive conclusion to our case and we strongly recommend Peter and the firm. We can now sleep at night! Fred & Pat H.
My husband and I were very pleased with the work that Peter and his team provided. He was very knowledgeable of the circumstances of our case and kept us informed throughout the process. He is extremely qualified and worked diligently on our behalf. We are positive that this case would not have been resolved in our favor had it not been for Peter's expertise and his passion. He definitely cares about his clients and we sincerely appreciate his efforts. Rachel C.
FRS is a governmental body. FRS retained the services of Peter Mougey of the LP law firm in a multimillion dollar lawsuit involving extremely complex issues. Mr. Mougey quickly mastered the issues and gave advice that was vital in bringing about a successful resolution. Two of the most important features of Mr. Mougey’s representation was his understanding of government and his ability to communicate complicated legal concepts to a 10-member board of trustees in language that was easily understood by all. I did not know Mr. Mougey before FRS retained him and, fortunately, have not experienced circumstances where the system would need his services again. However, if needed, I would have no hesitation in retaining his services again. Please let me know if you need any additional information or assistance. Steven S.
Edison's famous adage can't ever be ignored of course: 1 part inspiration and 99 parts perspiration. However the two attitudes must be present indissolubly--both are essential--if results are to be obtained. Peter Mougey’s group is aware of such a requirement, they work very hard at the latter, and the former comes easily to them, a rare combination anywhere to be found indeed. Raphael B.
I would like to express my sincere gratitude to Peter Mougey and your entire team on behalf of my family for the amazing job done during your representation. From day one I received kindness, rapid responses to all of my questions, with polite and patient encounters with all of your staff assistants. You are the best- and I will be eternally grateful to you and your entire team. Michelle E.