Noble Royalties sponsored a variety of funds, named the Noble Royalty Access Funds. The units of the Funds were not registered with the Securities and Exchange Commission, and they did not trade on a public exchange. Thus shares of the interests in the noble Royalty Access Funds were generally illiquid. Investors who were sold Noble Royalty Funds may have suffered significant losses and may not even be aware of the true extent of their losses. The shares of Noble Royalties Funds were only supposed to be allowed to be Accredited Investors (generally high new worth investors).
Investors who were sold the Watermark Lodging Trust REIT have suffered dramatic losses. Shares were originally sold to investors at $10 a share. In November 2020 the company declared its net asset value to be $5.51 per share for Class A shares.
The FS Energy & Power Fund was a speculative and high risk investment which was structured as a Business Development Company. Typically Business Development Companies (BDCs) are not registered with the SEC, and they are not publicly traded or listed on public exchanges.
The United States Supreme Court (SCOTUS) has rejected Johnson & Johnson’s (J&J) challenge of a $2.1 billion judgment awarded to 20 women who brought product liability claims against the company for its talc-based powders.
GPB Capital has been accused of running a Ponzi-like scheme that defrauded thousands of investors across the country. As many as 17,000 investors have been affected according to the SEC. The alleged fraud could have caused well over $500 million in losses. Many individual investors, including retirees, may have suffered significant losses as a result.
Florida resident Mary Milana first started using the chronic weight-management drug Belviq in 2013 and continued its use through early 2020. In April 2021, she and her husband, Victor Milana, filed a complaint against Eisai, Inc. and Arena Pharmaceuticals, the makers of Belviq, after Mary was diagnosed with breast cancer.
Investors in ATEL 15, ATEL 16, and ATEL 17 may have suffered losses of 50% or more of their investment principal based on secondary market trading data. ATEL 15, ATEL 16, and ATEL 17 were risky equipment leasing funds offered and sold to many investors. While some brokers or financial advisors may have sold these Atel products as a low risk, stable, or conservative investment options, the reality is that ATEL 15, 16, and 17 were all emerging growth companies and investments in these Atel funds involved a risk of substantial loss.
Multiple Investor Clients of Ameriprise Financial Services Broker Mark Allen Barrand Complain of Investment Losses
FINRA has barred Richard Michael Wesselt in all capacities in 2020 following 19 customer disputes and 2 regulatory final disclosures according to FINRA’s BrokerCheck website. W.S. Griffith & Co. Inc. separated Mr. Wesselt after placing a client’s name on a document.
Michael Calvin is a registered FINRA-regulated broker with 19 years of experience between seven firms. Mr. Calvin has previously been registered with:
Dain Farrell Stokes is a previously registered broker and investment advisor who worked for four different firms before being barred by both FINRA and the SEC. According to FINRA’S BrokerCheck, Stokes is named in three regulatory finals and one employment separation after allegations. Client allegations against Stokes include suitability issues, recommending unsuitable variable annuities, and defrauding customers.
Mr. Stokes was associated with the following firms:
Levin Papantonio Rafferty Legal Team Helps Win $7.1 Million for Plaintiffs in 3M Military Earplugs Lawsuit
Michael Fasciglione, Broker for Aegis Capital Corp and National Securities Corporation is the Center of Multiple Customer Disputes and Regulatory Actions
On April 29, 2021, New York Attorney (AG) General Letitia James announced she has requested information from multiple baby food companies regarding high levels of inorganic arsenic discovered in infant rice cereal products.
Marcus E. Boggs is a previously registered broker and investment advisor who worked for Merrill Lynch for 12 years before being discharged after allegations in 2018. Mr. Boggs has 13 different disputes on his BrokerCheck profile.
In November 2018, a client alleged that there were unauthorized transfers made to an American Express account from the customer’s investment account. This settled for $1,005,169.59 in damages. Boggs was separated from Merrill Lynch after this dispute.
Investment Loss Claims Regarding James Michael Amour of Ausdal Financial Partners and the Bakken Drilling Funds
James Michael Amour is a FINRA regulated broker and an investment advisor with 41 years of experience spanning eight firms. Mr. Amour has three disclosures against him according to his BrokerCheck profile.
Clifford Paul Huffman and Peter Huffman are FINRA registered brokers with over 50 years of experience between them. Both Clifford and Peter are currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated.
Peter Huffman has 12 years of experience, all with Merrill Lynch, meanwhile Clifford has 47 years of experience working at different branches of Merrill Lynch. Clifford also is a registered investment advisor with the company.
Brokers Thomas Joseph Logue, Bradley Carl Mascho, Clifford Ronald Reid, and John Joseph Koorey are the subject of numerous client complaints involving their mishandling of customer portfolios.
Below are the details for each broker.
Broker Jeremy Seth Rosen Accused of Unsuitable Investments for Customers While at Berthel, Fisher & Company Financial Services
Former customers of Jeremy Seth Rosen have accused the previously registered broker and investment adviser of making unsuitable investments, according to Financial Industry Regulatory Authority’s (FINRA) BrokerCheck. Rosen’s record contains disclosures of three pending and seven final customer disputes related to his time as a broker with Berthel, Fisher & Company (BFC) Planning, Inc.