May 2017- Lafayette, Louisiana
Garrett A. Ahrens (aka Drew Ahrens) , entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that between January 2011 and June 2013, Ahrens prepared about 65 consolidated reports for at least four customers. The consolidated reports reflected the current value of investments including private placements and non-traded real estate investment trusts (REITs).
According to the AWC, the values of some of the investments were inaccurate and overstated the actual value of the accounts.
AWC No. 2013036001201
Ahrens was fined $5,000 and suspended for one month.
According to FINRA records, Ahrens was registered with LPL Financial from 6/1998 until 9/2015. He is not currently registered.
Ahrens discloses two prior customer disputes involving REITs that were settled.
In FINRA case 13-0316 a customer of LPL Financial alleged that limited partnerships and REIT investments were not suitable and that risks were not explained. That case was settled for $97,500.
In FINRA case 10-3678 a customer of LPL Financial alleged unsuitable investments in REITs (real estate investment trusts) , breach of contract, breach of fiduciary duty and other claims. That case was settled for $875,000.
If you have losses in an account handled by Ahrens, call for a no charge consultation to discuss your options with an experienced securities lawyer.
Alternative investments include non publicly traded real estate investment trusts (REITS) , equipment leasing, oil and gas, hedge funds, real estate, commodities and derivatives contracts and, managed futures. These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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