October 2017-Minneapolis, MN
Jonathan Todd Pyne (aka Jon Pyne ) , a stockbroker who is currently registered with Berthel Fisher & Co. Financial Services discloses 2 pending customer disputes and 3 prior final customer disputes on his FINRA record.
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 of the currently pending disputes, received in 7/2017 , a customer of Berthel Fisher alleges damages in excess of $5,000 and claims that she was misled by Pyne into purchasing a real estate investment that she did not know was illiquid.
In another currently pending matter received in 9/2016, a Berthel Fisher customer is upset with the overall performance of the account which was invested in oil & gas, real estate securities and a business development company. Damages are not specified, but exceed $5,000.
In September 2016 Berthel Fisher settled a complaint brought by one of Pyne’s customers alleging that oil and gas and real estate securities purchased in 2008 and 2009 were unsuitable and misrepresented. That matter was settled for $48,175.
In FINRA arbitration 14-0952 a customer of Pyne’s alleged damages of $250,000 in connection with the sale of unsuitable investments sold to her in 2007 and 2008 in equipment leasing, oil and gas and real estate securities. That case was settled in 11/2015 for $110,000.
Pyne has been employed by Berthel Fisher & Co. since 2/2007. Pyne discloses a business affiliation with Evergreen Financial Group.
See this for our prior investigation of Jonathan T. Pyne over the sale of the following alternative investments:
- Gulf Coast Rig & Equipment
- Reef Income & Development
- Leaf Equipment Leasing Fund
- Inland American
- Cornerstone Properties (now Summit Health Care)
- Columbia Properties
If you have questions about an account handled by Jonathan T. Pyne , contact us to discuss your options.
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.
Florida-561 391 1900