All posts by rexsecuritieslaw

Losses on Cole Capital REITs ?

Brokerage firms nationwide sold a number real estate investment trusts (REITs) sponsored by Cole Capital, including:

  • Cole Office and Industrial
  • Cole Advisor Corporate Income
  • Cole Advisor Retail Income REIT
  • Cole Credit Property Trust
  • Cole Corporate Income Trust
  • Cole Real Estate Income Strategy

If you have suffered losses on an investment in a Cole Capital REIT that was recommended to you by your financial advisor, contact us to learn how you may be able to recover damages from the brokerage firm that sold you the investment.

Brokers often fail to disclose the risks associated with purchasing complex and inherently risky non-traded REIT investments.

Call for a no obligation consultation to learn about your option to recover damages through FINRA arbitration.

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.

Nationwide

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Losses on Cole Office and Industrial REIT ?

If you have suffered losses on your investment in Cole Office & Industrial REIT, contact us to learn how you may be able to recover damages from the brokerage firm that sold you the investment.

Brokers often fail to disclose the risks associated with purchasing complex and inherently risky non-traded REIT investments.

Call for a no obligation consultation to learn about your options.

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.

Nationwide

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Investigation of Capital Financial Services Brokers-Mark & Herminia Sitter-The Woodlands, TX

August 2017- The Woodlands, Texas

We are investigating  Capital Financial Services stockbroker Mark Raymond Sitter of the Woodlands, TXand  his wife Herminia C. Sitter, who until June 2017, was also a  broker with Capital Financial Services TX.

Our investigation is on behalf of an elderly Texas retiree who alleges that they recommended she invest most of her retirement funds into unsuitable real estate investments, including American Realty Hospitality Trust and Cole Office and Industrial REIT.

The FINRA records of Mark Sitter disclose an outstanding lien to the Internal Revenue Service of $83,527. Mark Sitter has been registered with Capital Financial Services since 1/2006. Mark Sitter discloses a business affiliation with Chasewood Wealth Management of the Woodlands, TX.

The FINRA records of Herminia Sitter disclose an outstanding lien to the Internal Revenue Service of $83,527. Herminia Sitter was registered with Capital Financial Services from 9/2005-6/2017.

Capital Financial Services has been a FINRA member since 1981 and is headquartered in Minot, North Dakota.

If you have information you believe may be helpful to this investigation please contact our office.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Newbridge Securities Fined $499,000 by Securities Regulator Over Structured Products-Boca Raton, FL

August 2017- Boca Raton, FL

Boca Raton, FL based brokerage firm Newbridge Securities Corp. was fined $499,000 by Pennsylvania Department of Banking and Securities for failure to supervise a broker in connection with the sale of structured products to Pennsylvania residents.

According to the Consent Agreement and Order, from January 2012-December 2016, Newbridge did not maintain a reasonable system for applying and enforcing written procedures pertaining to their sales of structured products by one agent in Pennsylvania.

This is not the first time Newbridge Securities has encountered regulatory problems. Their FINRA record discloses 28 prior regulatory events .

Newbridge Securities has over 80 locations nationwide. Recent SEC filings report total revenue in 2016 of $26 million with a net loss of $487,738.

If you have questions about losses in an account at Newbridge Securities, call to learn how you may be able to recover damages.

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.

Nationwide

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Cesar Rodriguez-Former Avenir Financial Group Broker- Discloses Customer Disputes & Termination- Wheaton, IL

August 2017, Wheaton, IL

According to publicly available records  Cesar Omar Rodriguez (CRD#4451732) , a former stockbroker who was previously registered with Avenir Financial Group, disclose a regulatory event , three prior customer disputes , two terminations from employment and an outstanding judgment lien.

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 April of 2015  Rodriquez  was permanently barred from the securities industry by FINRA to resolve allegations that “he defrauded investors by knowingly misrepresenting the true use of investors’ proceeds and improperly misusing investors’ funds for personal expenses unrelated to the operation of his member firm’s branch office…..”

In October of 2015, an  Avenir Financial Group  customer filed a complaint alleging unauthorized trading, breach of fiduciary duty, churning, manipulation, misrepresentation, suitability, negligence, indemnification, recovery of commissions, theft, swindling, and forgery.  Claimant alleged that Rodriguez purchased shares in his account and traded on his margin without permission.  Claimant further alleged that Rodriguez falsified account documents.   In FINRA case 15-02744 the Claimant was awarded the sum of $133,989.04 in compensatory damages, plus interest.   He was also awarded the sum of $22,500 in punitive damages, plus interest.

In April of 2015,  Rodriguez was discharged from Avenir Financial Group .

In November of 2008, Rodriguez was discharged from Charles Morgan Securities, Inc. who alleged that he violated the rules of the industry standards of conduct.

 Rodriguez was with Avenir Financial Group from July of 2013 until he was barred by FINRA in April of  2015.  His prior employment includes American Trust Investment Services, National Securities Corp. and Chicago Investment Group.   Rodriguez also discloses an affiliation with Bull Run Capital Holdings LLC.

If you have questions about an account handled by Cesar O. Rodriguez, contact us to discuss your options.

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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Texas Securities Board Appoints New Commissioner-Austin, TX

August 2017-Austin, Texas

Travis J. Lies was appointed Securities Commissioner of the Texas State Securities Board (TSSB) effective September 1, 2017. Lies has worked for the TSSB for 16 years and has been serving as Deputy Commissioner for the past year. He will succeed current Commissioner John Morgan who will retire August 31 after 33 years with TSSB.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Wedbush Securities Ordered to Pay Customer $1.8M For Elder Abuse-Los Angeles, CA

Los Angeles, CA-July 2017

A Financial Industry Regulatory Authority (FINRA) arbitration panel comprised of three public arbitrators ordered Wedbush Securities to pay two former customers (husband and wife) compensatory damages of $250,000. In addition the arbitration panel, who found that Wedbush subjected the couple to elder abuse,  awarded punitive damages of over $1 million and attorney fees of $277,000 pursuant to the California Elder Abuse and Adult Civil Protective Act, interest and costs.

The former customers alleged a number of causes of action, including unsuitable recommendations, failure to supervise the broker, misrepresentation and elder abuse in connection with investments in long term municipal bonds and structured certificates of deposit. Dancy, et al vs. Wedbush Securities, FINRA Case #16-0847.

FINRA ARBITRATION

Arbitration is similar to going to court, however it is generally less costly and a shorter process than court litigation. Most cases are resolved in about 12-14 months. If you have losses in your brokerage account which you believe are the result of negligent or fraudulent advice given to you by the broker, or if you believe your broker has made trades in your account without your permission (unauthorized trading) call to learn how you may be able to recover damages through FINRA arbitration.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870