Thomas T. Riquier Accused of Real Estate Fraud Scheme

Thomas T. Riquier

United Planners Financial Services of America Charged with Failure to Supervise

Have you suffered losses investing with Thomas T. Riquier and United Planners Financial Services of America? If so, the securities attorneys at The White Law Group may be able to help you recover your losses through FINRA Arbitration.

According to reports, Financial Advisor Thomas T. Riquier has been accused of defrauding investors in a complex real estate fraud scheme. Riquier allegedly took more than $1 million from investors over a 26 year span, according to various reports.

President of The Retirement Financial Center, Riquier was charged on February 14 with violating the Massachusetts Uniform Securities Act by Secretary of the Commonwealth William F. Galvin. United Planners Financial Services of America, his registered employer, is reportedly charged with failure to supervise its agent.

Riquier allegedly solicited money from clients and others, a majority of whom are elderly, and used it to purchase property, which investors were told would then be sold for a profit, according to the complaint filed by the Massachusetts Securities Division.

According to the complaint, in reality, the investments were allegedly used to purchase property already owned by Riquier. The complaint further states that the property has not been sold, has not been improved, and has not provided any returns on the money invested.

Riquier purportedly solicited more than $800,000 in private loans from his clients, in violation of state and federal law, according to the Massachusetts Securities Division.

According to his FINRA BrokerCheck report, Riquier has been registered with United Planners since 1992. He has five customer disputes listed on his broker report since 2008. Allegations include churning and failure to place trades in a timely manner, among others.

The state is seeking an order requiring Riquier to pay restitution to compensate investors for their losses under the scheme. It also reportedly seeks a cease and desist order, censure, and administrative fine, and the revocation of Riquier’s registrations as an investment advisor agent and broker-dealer in Massachusetts.

Recovery of Investment Losses – Thomas T. Riquier

The White Law Group is investigating Potential claims involving Thomas T. Riquier and United Planners Financial Services of America.

When brokers break laws or violate FINRA Rules, the firm they work for can be held liable for failure to supervise and responsible for investment losses. Brokerage firms have a responsibility to monitor their brokers and ensure that investments recommendations are in the clients’ best interest.

If you are concerned about your investments with Thomas T. Riquier the securities attorneys at The White Law Group may be able to help you recover your losses. For a free evaluation with a securities attorney, please call the firm’s offices at 888-637-5510.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm. For more information about The White Law Group, visit www.WhiteSecuritesLaw.com.

 

 

 

 

Secondary Market Listing – Strategic Realty Trust -$4.60/Share

Strategic Realty Trust Investigating Potential Claims – Strategic Realty Trust

According to Central Trade and Transfer, a secondary market for private placements, shares of Strategic Realty Trust are currently listed for sale for just $4.60/share. Unfortunately for investors, this represents a significant loss on their capital investment of $10.00/share.

Strategic Realty Trust (formerly known as TNP Strategic Retail Trust) is a non-traded REIT which owns a portfolio of shopping centers. It is sponsored by Thompson National Properties, LLC and launched in 2008.

The White Law Group is investigating the liability that brokerage firms may have for improperly recommending Strategic Realty Trust (formerly TNP Strategic Retail Trust) to investors.

Investors looking to sell non-traded REITs such as Strategic Realty Trust, often have difficulty finding a buyer, and if they are able to find one can suffer significant losses on the sale.

Besides the liquidity issue, there is the problem of high commissions. Brokers often earn as much as 15% from the sale of non-trade REITs. Unfortunately, in many cases, the high sales commission may provide some brokers with enough incentive to make unsuitable investment recommendations.

Brokerage firms are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations made are suitable for their clients in light of the clients’ age, income, net worth, tax status, investment experience, and investment objectives.

To discuss your litigation options with a securities attorney, please call The White Law Group at 888-637-5510 for a free consultation.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group, visit http://www.whitesecuritieslaw.com.

 

 

Trading Halted – VelocityShares Daily Inverse VIX Short Term ETNs

VelocityShares Daily Inverse VIX Short Term ETNs

VelocityShares Daily Inverse VIX Short Term ETNs – Securities Investigation

The White Law Group is continues to investigate the liability that brokerage firms may have for recommending high risk ETNs like VelocityShares Daily Inverse VIX Short Term ETNs.

Trading in VelocityShares Daily Inverse VIX Short Term ETNs was halted on Tuesday, along with two other U.S. listed inverse VIX ETFs, after suffering severe losses on Monday.

According to NASDAQ, “Trading is halted pending the release of material news.” A short sell restriction was placed on them, according to Thomson Reuters data.

The spike in the VIX gauge of U.S. stocks volatility (.VIX) sent the VelocityShares Daily Inverse VIX Short-Term ETN down 84 percent in after-hours trading, according to various reports.

Credit Suisse AG is the issuer of VelocityShares Daily Inverse VIX Short Term ETNs.

 

Risks of Exchange-Traded Notes

An exchange-traded note (ETN) is a senior, unsecured, unsubordinated debt security issued by an underwriting bank. Similar to other debt securities, ETNs have a maturity date and are backed only by the credit of the issuer. ETNs are designed to provide investors access to the returns of various market benchmarks.

VelocityShares Daily Inverse VIX Short Term ETNs offers leveraged exposure to VIX contracts; Each ETN is linked to either the S&P 500 VIX Short-Term Futures Index or the S&P 500 Mid-Term Futures Index.

These ETNs may not be suitable for investors who plan to hold them for a period other than one day. They are riskier than securities that have intermediate- or long-term investment objectives, according to their website.

Have you suffered losses investing in VelocityShares Daily Inverse VIX Short Term ETNs? If so, the securities attorneys of The White Law Group may be able to help you recover your losses.  For a free consultation, please call the firm at 888-637-5510.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group, visit http://www.whitesecuritieslaw.com.

 

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iCap Pacific Northwest Opportunity & Income Fund – Investigating Potential Claims

iCap Pacific Northwest Opportunity & Income Fund

29160248 – stock market discussion

iCap Pacific Northwest Opportunity & Income Fund – Securities Investigation

The White Law Group is investigating potential claims involving broker dealers who may have unsuitably recommended iCap Pacific Northwest Opportunity & Income Fund to investors.

 

iCap Pacific Northwest Opportunity & Income Fund, LLC was organized in 2013 and is based in Bellevue, Washington, according to a Form D filed with the SEC.

Are Alternative Investments Suitable for you?

Interests in limited liability companies are often sold as unregistered securities and lack the same regulatory oversight as more traditional investment products. iCap Pacific Northwest Opportunity & Income Fund, and other limited liability companies, are generally considered high risk investments, compared to traditional investments, such as stocks, bonds or mutual funds.

The high sales commission brokers earn for selling interests in limited liability companies may have provided some brokers with enough incentive to push the product to unsuspecting investors. Some brokers may actually downplay the risks associated with alternative investments and mislead investors into thinking that they are “safe” investment products.

Broker dealers are required to perform adequate due diligence on all investment recommendations. They must ensure that each investment is suitable for the investor in light of the investor’s age, risk tolerance, net worth, financial needs, and investment experience.

If your financial advisor makes an unsuitable investment recommendation or fails to adequately disclose the risks associated with an investment they may be liable for investment losses through FINRA arbitration.

FINRA operates the largest securities dispute resolution forum in the United States, and has extensive experience in providing a fair, efficient and effective venue to handle a securities-related dispute.

Free Consultation

If you have concerns regarding your investment in iCap Pacific Northwest Opportunity & Income Fund, The White Law Group may be able to help you. To speak with a securities attorney about your options, please call The White Law Group at 888-637-5510 for a free consultation.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit http://www.whitesecuritieslaw.com.

 

 

 

United Development Funding III – Securities Investigation

United Development Funding IIIRecover your losses  – United Development Funding III

The White Law Group continues to investigate the liability that brokerage firms may have for recommending United Development Funding III to clients. The firm has handled a number of claims involving UDF Funds over the years.

United Development Funding III, according to SEC filings, was formed primarily to generate current interest income by investing in mortgage loans. The fund was registered with the SEC in 2005.

Unfortunately, some investors who purchased United Development Funding III may not have been aware of the risk and lack of liquidity of the fund. The prospectus warns that no public market exists to sell limited partnership units and that investors should purchase units only if they can offer complete loss of their investment.

Secondary Market Listing

United Development Funding III is a limited partnership.  These types of investments are intended for sophisticated and institutional investors.  The level of risk is generally too high for conservative and moderate risk investors. They also lack liquidity because they are not sold on any public exchange, such as the NYSE or NASDAQ.

According to Central Trade and Transfer, a secondary market for private placements, shares of United Development Funding III are currently listed for just $2.50 per share. This appears to be a significant loss for investors, as the shares were valued at $20.00/share in 2014.

Did you lose money investing in United Development Funding III? If so the securities attorneys at The White Law Group may be able to help you. To discuss your litigation options, please call (888) 637-5510 for a free consultation.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

The firm represents investors in FINRA arbitration claims throughout the country. For more information please visit the website at www.whitesecuritieslaw.com.