LJM Preservation & Growth Fund – LJM Partners – Investigation

Investigating Potential Claims – LJM Preservation and Growth Fund

The White Law Group continues to investigate potential claims involving broker dealers who may have unsuitably recommended LJM Preservation and Growth Fund to investors.

The LJM Preservation and Growth Fund is a liquid alternative mutual fund. Liquid alternatives are alternative investment strategies that are available through alternative investment vehicles such as mutual funds, ETFs, and closed-end funds that provide daily liquidity.

According to reports, LJM Capital Preservation & Growth Fund lost $600 million dollars in two days.

In New York federal court last month, Wells Fargo Securities LLC filed suit against LJM Investment Fund LP, seeking to recover more than $16 million the bank says it spent to cover the commodity pool’s losses in February’s stock market dive.

Numerous investor lawsuits have reportedly been filed alleging the following: LJM Preservation and Growth Fund Classes I, A and C failed to adequately focus on the preservation of capital, particularly in down markets as stated in the Registration Statements and Prospectuses; investors were exposed to unacceptably high risks of significant losses; as a result, the Funds’ financial statements were materially false and misleading at all relevant times.

Brokers are required to perform adequate due diligence on any investment they recommend.
They must ensure that all recommendations are suitable for the investor and are in line with the client’s risk tolerance, age, net worth, and investment experience.

If a brokerage firm makes unsuitable investment recommendations or fails to adequately disclose the risks associated with an investment they may be liable for investment losses through FINRA arbitration.

You may be able to recover 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 are concerned about investment losses with LJM Partners or LJM Preservation and Growth Fund, the securities attorneys at The White Law Group may be able to help you recover your losses. For a free consultation with a securities attorney, call The White Law Group at 1-888-637-5510.

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 firm, visit www.WhiteSecuritiesLaw.com.

 

 

 

 

Payson Petroleum – Recovery of Investment Losses

Investigating Potential Claims – Payson Petroleum

Did you suffer losses investing in a Payson Petroleum private placement offering at the recommendation of your financial advisor?  If so, The White Law Group may be able to help you to recover your losses. It is possible to file a FINRA Arbitration claim against the brokerage firm that sold you the investment.

Payson Petroleum is based in North Texas and “leads the way in providing oil investment opportunities to the independent investor,” according to its website.

In June 2016, Payson and Payson Operating filed for Chapter 7 bankruptcy which later was converted to Chapter 11 bankruptcy. According to the bankruptcy trustee, after administrative expenses, neither company will have money left to pay its unsecured creditors.

Then in November 2016, the SEC filed fraud charges against Payson Petroleum owners and brothers Matthew Griffin and William Griffin with offering interests in two Texas partnerships.

The SEC alleges, between November 2013 – July 2014, the Griffins purportedly conducted a fraudulent two-phase offering of interests in two Texas partnerships, raising $23 million from approximately 150 investors for the purpose of developing three oil and gas wells through their company, Payson Petroluem.

Additionally, the SEC alleges that the Griffins misled investors about Payson’s promised participation in the program and about Payson’s compensation as the program’s sponsor and operator.

The Trouble with oil and gas LPs

The trouble with oil & gas LPs, like those offered by Payson Petroleum, is that they involve a high degree of risk and are typically sold as unregistered securities which lack the same regulatory oversight as more traditional investment products like stocks and bonds.

An additional risk associated with Payson Petroleum offerings is also the general risk that comes with the energy market – a market that has seen enormous losses over the last few years.

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 a broker or brokerage firm makes an unsuitable investment recommendation or fails to adequately disclose the risks associated with an investment they may be liable for investment losses.

The White Law Group is specifically investigating the following Payson Petroleum offerings, among others:

  • Payson Drilling Fund 2015 I
  • Payson Drilling Fund 2015 II LP
  • Payson Group LP
  • Payson North Texas Multi Well I LP
  • Payson Petroleum Jenny #1 LP
  • Payson Developmental Drilling Fund 2014 II LP
  • Payson Petroleum 3 Well LP

If you have suffered investment losses in a Payson Petroleum private placement investment, please contact The White Law Group at 1-888-637-5510 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 firm, visit www.WhiteSecuritiesLaw.com.

 

Hard Rock Partners 2009 L.P. – Investment Losses

Hard Rock Exploration – Hard Rock Partners 2009 L.P.

Have you suffered investment losses in Hard Rock Partners 2009 L.P.? If so, The White Law Group may be able to help you recover your losses by filing a FINRA Dispute Resolution claim against the brokerage firm that sold you the investment.

Hard Rock Exploration, Inc. is an independent oil and gas development company that sponsors drilling programs such as Hard Rock Partners 2009 L.P. to raise money from investors. On September 5, 2017, Hard Rock Exploration, Inc. along with its affiliates filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of West Virginia.

The trouble with alternative investment products, like Hard Rock Partners 2009 LP, is that they involve a high degree of risk. They are typically sold as unregistered securities which lack the same regulatory oversight as more traditional investment products like stocks or bonds.

An additional risk inherent to Hard Rock Exploration offerings is the general risk that comes with the energy market. The energy market has seen enormous losses over the last few years due to the declining cost of oil and other energy commodities. These investments may seem wise at first, until the dramatic drop in distributions.

With oil still hovering at half the value of several years ago, many oil and gas LPs are struggling to make distribution payments and some may end up defunct.

Recovery of Investment Losses

The White Law Group is investigating the liability that brokerage firms may have for improperly selling oil and gas private placements like Hard Rock Partners 2009 LP.

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

However, another problem with Reg D private placements is that the high sales commissions and due diligence fees. These high commissions and fees can provide brokers with an enormous incentive to push the product to unsuspecting investors who do not fully understand the risks.  They may misrepresent the basic features of the products – usually focusing on the income potential and tax benefits while downplaying the risks.

Fortunately, there is a possibility of recovering some of your losses through the Financial Industry Regulatory Authority (FINRA).

FINRA provides an arbitration forum for investors to resolve such disputes. If a broker or brokerage firm makes an unsuitable investment recommendation or fails to adequately disclose the risks associated with an investment they may be found liable for investment losses in a FINRA arbitration claim.

Free Consultation with a Securities Attorney

To determine whether you may be able to recover investment losses incurred as a result of your purchase of Hard Rock Partners 2009 LP or another Hard Rock Exploration private placement investment, please contact The White Law Group at 1-888-637-5510 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 throughout the country in claims against their brokerage firm.

For more information on the firm and its representation of investors, visit www.WhiteSecuritiesLaw.com.

 

 

Sanders Spangler & LPL Financial – Securities Investigation

Sanders SpanglerSanders Spangler Barred from Securities Industry

The White Law Group is investigating potential claims involving Sanders Spangler and LPL Financial in San Antonio, TX.

According to the Financial Industry Regulatory Authority (FINRA), the regulator has barred Sanders Spangler from the securities industry in connection with an investigation into potential unauthorized trading in five customers’ accounts.

Spangler was asked by FINRA to give on-the-record testimony relating to the investigation, but has refused, according to FINRA’s Letter of Acceptance, Waiver and Consent. In doing so, he is in violation of FINRA rules and has been barred from the securities industry.

Sanders Spangler was registered with LPL Financial in San Antonio, Texas from October 2005 until he was reprotedly fired last month for ”Exercising discretionary power in customer account(s), in violation of Firm policy,” according to his FINRA BrokerCheck report.

There are 6 disclosures listed on Spangler’s broker report, including 5 customer complaints. Allegations include unsuitable investments, overconcentration in energy stocks, and unauthorized trades, among others.

For FINRA’s full findings see FINRA Case # 2017053526401.

Failure to Supervise

The White Law Group is investigating the liability LPL Financial may have for failure to properly supervise its employee, Sanders Spangler.

Brokerage firms have a responsibility to monitor their brokers and ensure that investments recommendations are in the clients’ best interest. 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.

If you suffered losses investing with Sanders Spangler and LPL Financial, the securitiea attorneys at The White Law Group may be able to help you recover your losses by filing a FINRA arbitration claim. For a free consultation with a securities attorney please call 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 www.whitesecuritieslaw.com.

 

 

 

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.