By Robert H. Rex, Esq.
Rex Securities Law is investigating VSR Financial Services broker Mickey Long II, of Plano , TX, and his company Personal Wealth Advisors, LLC, on behalf of several customers who were sold high concentrations of alternative investments that have resulted in significant losses. Our clients attended dinner meeting/sales seminars sponsored by VSR Financial Services, Inc. during which Mickey Long and former VSR Financial broker, John H. Towers, gave presentations on various alternative investments, including the following:
Alliance Petroleum Corp 2006-B
Alliance Petroleum Corp. 2007A
Altegris Winton Futures Fund LP Class A
Arciterra Note Fund III, LLC
Arciterra Strategic Retail Echelon
Arcitera Whitefish Opportunity Fund
Atlas America Public #17-2007A Ltd.
Behringer Harvard REIT, I, Inc.
Bradford Drilling Associates 27, LP
Cole Credit Property Trust II, Ltd.
Cypress Equipment Fund 13
Cypress Equipment Fund 15
Florida Capital Real Estate Partners 27
FS Investment Corporation
KBS REIT, Inc.
Mewbourne Energy Partners 9A, 10A, 11A, 12A
Odyssey Residential Realty II LLC 9% Note
Odyssey Properties III
Reef Income & Development Fund 3
Reef SWD 2007-A
Waveland Drilling Partners 2006-B, 2007-A, 2008-B
Waveland NeoMatrix, LLC
Waveland Resource Partners
Waveland Vanguard Partners
The Certified Financial Planning Board website lists Mickey Long and John H. Towers under the “suspension” category on its listing of disciplined individuals.
VSR Financial was recently sanctioned and assessed a fine of $550,000 in connection with the sale of alternative investments, non-conventional investments and private placements. (FINRA Case #2010022963602, July 2013.)
John H. Towers was discharged from VSR in December 2013 after he was fined $25,000 and suspended for three months connection with the sale of over $6 million in alternative investments to a couple who were seeking low risk investments. See this for more details.
Our clients anticipate filing one of more FINRA arbitrations in the immediate future seeking the recovery of damages. If you have information related to these matters we would appreciate hearing from you.
If you have questions about investments made through Mickey Long, John H. Towers or Dennis Van Patter or any other VSR Financial Services, Inc. broker, please call us at 561 391 1900 to discuss this matter with an experienced securities attorney. Contingent fee representation.
Rex Securities Law
561 391 1900