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.

 

 

Investigating Potential Claims – UDF Income Fund V

United Development Funding Income Fund V – UDF Income Fund V

The White Law Group is investigating potential claims involving broker dealers who may have unsuitably recommended UDF Income Fund V to investors.

United Development Funding Income Fund V (a/k/a UDF Income Fund V) is a non-traded REIT sponsored by United Development Funding in Grapevine, Texas. UDF Income Fund V is a real estate investment that invests in secured loans and residential real estate, according to its website.

In February 2016, the FBI raided United Development Funding’s offices in Grapevine, Texas investigating allegations of a possible Ponzi scheme.

On May 15, 2018, United Development Funding Income Fund V announced that they will be unable to file their next 10-Q by the deadline required by the SEC. The company has not filed a quarterly report since 2015.

The White Law Group has received numerous calls from investors who have suffered losses investing in UDF funds. The firm continues to investigate potential claims in all of the UDF offerings such as UDF Income Fund V.

Unfortunately for investors, some brokers will represent Real Estate Investment Trusts REITs and limited partnerships  as “safe” investments.

In general, limited partnerships and REITs lack liquidity and are inherently risky. These types of products are sophisticated complex investments that are better suited for institutional investors or investors who can afford total loss of their capital investment.

If a broker-dealer 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.

Free Consultation

If you have suffered losses investing in UDF Income Fund V or another UDF offering, please contact 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 firm, visit www.WhiteSecuritiesLaw.com.