February 17, 2016
A FINRA (FInancial Industry Regulatory Authority) arbitration panel recently ordered VSR Financial Services to pay a Louisiana couple over $300,000 in damages for losses on non-traded real estate investment trusts (REITs), promissory note programs, limited partnerships and private oil drilling programs. FINRA Case # 15-00834.
Some of the specific investments at issue in this case were:
- MPF Senior Note Program
- Atlas America Series #25-2004B
- AmREIT Monthly Income & Growth II
- Cole Credit Property Trust
- ArciTerra Note Fund II
The claimants alleged that VSR Financial and broker Michael Shaw, committed fraud, breached their fiduciary duty, were negligent, misrepresented the investments and other claims.
In May 2013, VSR Financial was sanctioned by FINRA in connection with the sale of alternative investments. See this for more details on that regulatory matter.
If you have losses in your account at VSR Financial Services, contact us for more information.
For more information on VSR Financial and its brokers in the Plano, Texas area and elsewhere, see this.
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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