Sonya Carmaco – LPL Financial – Securities Investigation

Sonya Camarco

Investigating Potential Securities Claims – Sonya Camarco

The White Law Group is investigating potential claims involving financial advisor Sonya Camarco and the liability that LPL Financial may have for failing to properly supervise her.

According to her FINRA broker report, Camarco was dismissed from LPL Financial in August 2017 for allegedly “depositing third party checks from client accounts into a bank account she controlled and accessing client funds for personal use.”

In August, the SEC charged Camarco with using her company Camarco Investments, Inc., to allegedly steal over $2.8 million in investor funds from her clients and customers.

According to various reports, Camarco allegedly used investor accounts to pay hundreds of thousands of dollars in credit card bills and took cash advances on investor accounts.

Camarco was registered with LPL Financial LLC in Colorado Springs, CO from February 2004 until August 2017, according to her FINRA BrokerCheck report. She has 9 customer complaints filed against her, 4 of which are pending, according to her broker report.

If you suffered losses investing with Sonya Camarco and LPL Financial, the securities attorneys at The White Law Group may be able to help you.  For a free consultation with a securities attorney, please call the 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, and its representation of investors, please visit our website at http://www.whitesecuritieslaw.com.

 

 

Austin Dutton & Newbridge – Investors may have claims

Austin DuttonSecurities Fraud Investigation – Austin Dutton – Newbridge

Have you suffered losses investing with Austin Dutton and Newbridge Securities in Doylestown, PA? The securities attorneys at The White Law Group may be able to help you to recover your losses by filing a FINRA Arbitration claims against the firm.

According to Austin Dutton’s FINRA BrokerCheck report, he was fined $200,000 in July 2017 for allegations of “dishonest or unethical practices in the securities business,” by the Pennsylvania Department of Banking and Securities.

Newbridge Securities, Dutton’s employer at the time, was also reportedly fined $499,000 by the Pennsylvania state regulator for allegedly failing to supervise a broker in connection with sales of structured products to his clients in the state.

Dutton was registered with Newbridge Securities Corp. in Doylestown, PA from 2007 through August 2017, according to his Broker Check report. He has 14 pending customer disputes listed on his broker report since November 2017 for allegations of unsuitability, negligence and misrepresentation, among others.

Investigating Potential Claims

The White Law Group continues its investigation regarding former financial advisor Austin Dutton and the liability that Newbridge Securities may have for failure to supervise him.

Brokerage firms are required to properly supervise their advisors. They must ensure that those advisors are complying with applicable FINRA rules and regulations. If it can be demonstrated that Austin Dutton’s former employers failed to properly supervise him, the firm may be held responsible for the losses in a FINRA arbitration claim.

If you have suffered losses investing with Austin Dutton and would like a free consultation to discuss your litigation options, please call the securities attorneys at 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 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.

 

 

 

 

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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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.