Benjamin Bourgeois Jr. Broker Investigation

Benjamin Bourgeois Jr. Broker Investigation, Featured by Top Attorneys, The White Law Group

FINRA Bars Benjamin Bourgeois Jr. – Commonwealth Financial Network

Have you suffered losses investing with former financial advisor Benjamin Bourgeois Jr.? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

According to the Financial Industry Regulatory Authority (FINRA), the regulator reportedly barred Bourgeois from association with any FINRA member in any capacity after he purportedly failed to provide information in an investigation into his conduct.

FINRA was apparently investigating Bourgeois after he was reportedly discharged from his member firm, Commonwealth Financial Network on April 1, because he allegedly borrowed money from a client which is against FINRA rules. On April 5, Commonwealth filed an amended form U5 that reportedly disclosed a civil litigation in which a customer alleged that Mr. Bourgeois defrauded her and took her money.

Bourgeois, 52, was arrested last month after authorities say he allegedly stole more than $359,000 from a 78-year old. Charges reportedly include three counts of theft valued over $25,000, three counts of theft valued between $5,000 and $24,999, and six counts of bank fraud and exploitation of the infirm, according to the Jefferson Parish Sheriff’s Office in Metairie, LA.

According to his FINRA BrokerCheck report, Bourgeois was registered with Commonwealth Financial Network in Metairie, LA from May 2015 through April 2019. He reportedly has 3 customer complaints listed on his broker record since 2001.

Broker Fraud Investigation

The White Law Group is investigating the liability that Commonwealth may have for Bourgeois’ alleged actions.

If a registered broker breaks FINRA rules, the brokerage firm may still be liable for negligent supervision of their broker representative and may be responsible for investment losses in a FINRA dispute resolution claim.

If you have invested with Benjamin Bourgeois Jr. and are concerned about your investments, the securities attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call our 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 with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group, please visit our website at https://www.wlgattorneys.com.

 

 

U5 Expungement – FINRA Expungement Attorney

U-5 Expungement, FINRA Expungement Attorney, Featured by The White Law Group

Are you a financial advisor with a harmful U-5 entry on your FINRA CRD record? If so, it may be possible for you to expunge information from your CRD record such as a customer dispute or employment termination information.

The FINRA CRD system contains information from the Uniform Registration Forms that are submitted by broker-dealers and regulatory authorities.  Form U4, the Uniform Application for Securities Industry Registration or Transfer, and Form U5, the Uniform Termination Notice for Securities Industry Registration, are submitted by broker-dealers and are designed to report pertinent information about registered representatives.

Unfortunately, sometimes these statements are not completely accurate and may lead to legally viable claims for defamation, wrongful termination, retaliation, or discrimination.

The securities attorneys at The White Law Group may be able to help you clean up your employment record through the Financial Industry Regulatory Authority (FINRA) expungement process.

The White Law Group represents financial advisors in various disputes with their former employers, including representing advisors in claims related to wrongful termination, retaliation, discrimination, and outstanding promissory notes.

The firm has represented many financial advisors whose former employers improperly placed derogatory or inaccurate statements on their broker record.

To speak with a securities employment attorney regarding your legal rights and the expungement process, please call the firm at 888-637-5510.

For more detailed information on the FINRA expungement process, please seeFINRA CRD Expungement Explained.

The White Law Group, LLC is a national securities arbitration and securities regulation/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group, please visit our website at https://www.wlgattorneys.com.

 

George Merhoff, Jr., Cetera | Lawsuits

George Merhoff & Cetera Advisor Lawsuits, Featured by Top Securities Fraud Attorneys, The White Law Group

Clients of George Merhoff & Cetera Advisors may have Recovery Options

Are you concerned about investment losses with George Merhoff, Jr. and Cetera Advisors? If so, The White Law Group may be able to help you recover your losses by filing a FINRA Dispute Resolution claim.

The White Law Group continues to investigate potential securities fraud claims regarding the liability that Cetera may have for losses sustained by Merhoff’s clients.

In August 2017, Oregon’s Division of Financial Regulation (DFR) alleged violation of “unfair” conduct and failure to supervise against Cetera Advisors, LLC and Merhoff.

According to Merhoff’s broker report, “DFR assessed a $70,000 civil penalty; $35,000 was collected near the time the Final Order became effective. The remainder will not be collected upon provided the voluntary heightened supervision is maintained. The Penalty was joint and several between Cetera Advisors LLC and George Merhoff.”

Cetera Advisors has reportedly had numerous lawsuits filed against them for more than $5 million in damages accusing Merhoff of over-concentrating their portfolios in unsuitable, high risk alternative energy investments, such as Linn Energy.

According to Merhoff’s FINRA broker report, he has 25 customer complaints against him, with 5 still pending. Allegations include charges of unsuitability, negligence, breach of fiduciary duty, and breach of contract, among others.

Last month Merhoff was reportedly fired for “violating firm’ s policies and procedures by making undisclosed payments to a customer of the firm.”

Brokerage firms are required to supervise their advisors to ensure that they are complying with FINRA rules.  If it can be determined that Merhoff violated FINRA rules and his employers failed to adequately supervise him, the firm can be held responsible for any resulting losses in a FINRA arbitration claim.

Free Consultation

For a free consultation with a securities attorney, please call The White Law Group 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 and its representation of investors in FINRA arbitration claims, visit https://www.whitesecuritieslaw.com.

 

 

 

 

GPB Capital Holdings Private Placements Investigation

GPB Capital Holdings Private Placements Investigation, Featured by The White Law Group

GPB Capital Holdings Delays Filing with the SEC again

Have you suffered losses investing in GPB Capital Holdings private placements? If so, the securities attorneys at the White Law group may be able to help you by filing a FINRA Dispute Resolution claim against the brokerage firm that sold you the investment.

According to an article in Investment News on Thursday, GPB Capital Holdings, a leading seller of high-risk, high-commission private placements, has shown no signs of filing financials a year after stating its intention to take a break in raising money while it straightens out the accounting and financial statements of two of its existing funds.

The company reportedly suspended redemptions of funds until the audited financial statements have been released and public filings are completed.

GPB who has reportedly raised close to $1.8 billion in investor money since 2013, has missed several deadlines to file financial statements with the SEC for two of its largest funds, GPB Holdings II and GPB Automotive Portfolio, which combined have close to $1.3 billion in investor capital.

GPB Automotive Portfolio and GPB Holdings II, have reportedly paid brokers $100.1 million in commissions at a rate of 7.9% since inception.

Dealing with proper accounting standards was allegedly the reason for the delay last year. What’s the hold up now? According to Investment News, “The company won’t say, but keep in mind that GPB’s CEO and lead partner, David Gentile, is a CPA. That means even the accountant isn’t doing the accounting at GPB.”

This begs the question, what is the real value of these GPB investments? Investors are apparently not the only ones with questions. According to news reports, the FBI came to visit the GPB offices in February and collected documents with a search warrant.

Recovery of Investment Losses in GPB Capital HOldings

Private Placement investments such as GPB offerings are highly complex, high risk investments. They are only suitable for sophisticated, accredited investors and institutions.

If you have suffered losses in a GPB Capital Holdings private placement offering please call the securities attorneys at The White Law Group for a free consultation.

This information is all publicly available and provided to you by The White Law Group. Please call The White Law Group for a free consultation with a securities attorney 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 firm and its representation of investors, please visit https://www.whitesecuritieslaw.com.

 

 

1 Global Capital (1st Global) & 1 West Capital file for Chapter 11 during SEC Investigation

1st global

Have you suffered losses investing in 1 Global Capital (1st Global) or 1 West Capital? If so, the securities attorneys at The White Law Group may be able to help you to recover your losses through FINRA Arbitration.

1 Global Capital LLC (1st Global) and 1 West Capital LLC claimed to offer investors low-risk, high-return investments that 1st Global would use to fund merchant cash advance deals, according to sources.

According to reports, 1 Global Capital LLC, (“1st Global Capital”), the cash advance company, is a separate, unrelated company from 1st Global Capital Corp., the independent broker-dealer based in Dallas.

1 Global Capital and its affiliate, 1 West Capital reportedly filed for Chapter 11 Bankruptcy protection on July 28 “in order to address a sudden and acute liquidity crisis and to preserve their assets and business operations for the benefit of the individual lenders and all other constituencies,” according to the joint motions.

This “liquidity crisis” reportedly stemmed from the SEC’s investigation of 1 Global Capital LLC (“1st Global”), and its owner, for alleged securities law violations which include the alleged offer and sale of unregistered securities, the alleged sale of securities by unregistered brokers, and the alleged commission of fraud in connection with the offer, purchase, and sale of securities.

The White Law Group is investigating potential claims involving 1 Global Capital and 1 West Capital and the liability that sales agents may have for improperly recommending these investments.

For more information on the firm’s investigation involving 1st Global Capital, visit 1 Global Capital LLC – Securities Fraud Investigation.

If you are concerned about investment losses in 1 Global Capital (1st Global) and/or 1 West Capital, the securities attorneys at The White Law Group may be able to help you. For a free consultation with a Contingency Fee Attorney, please call our offices 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, please visit www.WhiteSecuritiesLaw.com.