The Woodlands, Texas
Losses on investments purchased from VSR Financial Services? How to recover damages.
UPDATE December 2016–VSR Financial Services has ceased operations. Many of its brokers have transferred to Summit Brokerage Services, an affiliated company.
UPDATE SEPTEMBER 2016–FINRA records report that former VSR Financial Services broker Charles Geraci has not been registered with any broker dealer since July 2016.
In July 2016 FINRA case 16-2097 was filed by a customer of VSR Financial Services alleging damages of $500,000 for unsuitable investments in private placements and alternative investments including:
- Behringer Harvard REIT I
- Cole Credit Property Trust II
- United Development Funding III
- Cypress Income Fund VII
- FS Investment Corporation
- Odyssey Diversified Notes IX
- Grubb & Ellis Healthcare
- Canadian UIT
Original post June 2016
According to FINRA records, Charles Geraci , a stockbroker who is employed by VSR Financial Services , discloses one pending customer dispute and 6 prior customer disputes that have been resolved .
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In FINRA Case #16-1180, a customer of VSR Financial Services alleges damages of $930,216 for negligent misrepresentation, breach of contract and unsuitable investments in equipment leasing, real estate securities, limited partnerships and other direct investments.
VSR Financial Services Problems with Alternative Investments
In July 2013, FINRA fined VSR Financial $550,000 for over concentrating customer accounts with various alternative investments. See this for more information.
We have represented a number of people with claims against VSR Financial Services for losses suffered on investing in REITs, oil and gas partnerships, equipment leasing and other alternative investments during the past several years . Follow this link for more information on our investigation into the sales practices of VSR Financial Services.
Many of these investments were purchased years ago and persons suffering damages from these investments should be aware that there are statutes of limitations and regulatory rules that may make it impossible to collect damages if claims are not brought in a timely manner. Victims who wish to pursue their claims should act now without further delay or risk losing valuable legal rights.
If you have questions about an account handled by Charles Geraci or if you have losses in an account at VSR Financial Services, call for a no charge consultation.
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.
Rex Securities Law
Florida-561 391 1900