Category Archives: Mid Atlantic Capital Corporation

Michael J. Blake-Former Ameritas Investment Broker-Discloses Numerous Customer Complaints Involving Promissory Notes-Paradise Valley, AZ

April 2017-Paradise Valley, AZ

The FINRA records of  Michael J. Blake ,  a  stockbroker who is currently unregistered and who last was employed by  Mid Atlantic Capital Corp. disclose a prior regulatory matter, 5 currently pending customer disputes and 4 prior customer disputes.

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 a prior customer dispute, FINRA case #9-04700 a customer of Ameritas Investment Corp. alleged damages of $1.5 million in connection with a real estate security. That case was settled for $475,000.

The pending customer disputes include:

  • CV 2017-0061 pending in Superior Court of Arizona in which an Ameritas customer alleges damages of $875,000 in connection with a promissory note investment.
  • FINRA arbitration #16-01182 in which a customer of Ameritas Investment Corp. alleges damages of $425,000 in connection with a promissory note investment.
  • FINRA arbitration #15-3118 in which another customer of Ameritas Investment Corp. alleges damages of $425,000 in connection with a promissory note investment.
  • 2-13 CV-02461-MEA pending in US District Court-District of Arizona in which another Ameritas customer alleges damages of $450,000 in connection with a promissory note investment.

Blake was registered with Ameritas Investment Corp.  from 6/2005-3/2013..

If you have questions about an account handled by Michael J. Blake, call 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 Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

James B. Lunsford-Former Mid Atlantic Capital Broker-Discloses Customer Disputes Involving Private Placements-Sonoma, CA

April 2017- Sonoma, CA

According to publicly available records James B. Lunsford , (CRD# 2222307) ,  a  former stockbroker who last worked for Mid Atlantic Capital Corp.  discloses three pending customer disputes, one prior customer dispute and 4 outstanding judgement/liens. 

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 pending FINRA arbitration 17-0606 a customer of Mid Atlantic Capital Corp. alleges damages of $500,000 in connection with the purchase of a private placement in an IRA account which the customer alleges was speculative and unsuitable. 

In pending FINRA arbitration 16-03515 a customer of Mid Atlantic Capital Corp. alleges damages of $200,000 in connection with the purchase of a private placement.

In pending FINRA arbitration 15-01319 a customer of Mid Atlantic Capital Corp. alleges damages of $450,000, failure to supervise and other claims in connection with the purchase of a limited partnership interest.

Mid Atlantic Capital Corp.  has been a FINRA member since 1982 and is headquartered in Pittsburg, PA. They have about 210 associated persons and 70 branch offices. In FINRA Case 15-0333 they were ordered to pay nearly $1 million to customers in Denver for damages resulting from the purchase of illiquid real estate private placements. See this for details. 

Lunsford was employed by Mid Atlantic Capital Corp. from 5/2004-12/2015.

If you have questions about an account  handled by James B. Lunsford or have losses on alternative investments purchased from Mid Atlantic Capital Corp. , contact us to discuss your legal options.

Alternative investments include non publicly traded real estate investment trusts (REITS) , equipment leasing and oil and gas limited partnerships. 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Mid Atlantic Capital Ordered to Pay $922K to Customers-Denver, CO

December 2016-Denver, Colorado

Brokerage firm Mid Atlantic Capital was ordered to pay a married couple $922,000 by a FINRA arbitration panel for damages they suffered to their brokerage account as a result of the sales of illiquid real estate private placements that were sold to them prior to the 2008 credit crisis. Wellman, et al vs. Mid Atlantic Capital Corporation, FINRA Case#15-0333.

The claims were brought for losses on the following investments:

  • Sonoma Ridge Partners real estate investment trust
  • KBS real estate investment trust
  • Contango Oil and Gas, Inc.
  • iShares Silver 
  • Market Vectors Gold Miners

The claimants alleged breach of fiduciary duty, negligence, negligent misrepresentation, omissions, violation of Colorado Securities Act, common law fraud, negligent supervision and other claims. The claimants alleged that they did not have the required net worth to be considered accredited investors as required by industry rules for the purchase of private placements.

Mid Atlantic Capital, headquartered in Pittsburgh, PA,  has been a registered broker dealer since 1982. It employs about 175 registered representatives. Official FINRA records disclose that Mid Atlantic Capital has been involved in 5 prior regulator matters that are final.

FINRA arbitration offers investors a streamlined way to pursue the  recovery of damages for investment losses for the negligence and/or fraud of stockbrokers and brokerage firm. If you have questions about your account with Mid Atlantic Capital or any other brokerage firm, call to discuss your legal 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Thomas M. Hakim-G.A. Repple Broker-Discloses Numerous Outstanding Tax Liens-Macomb, MI

March 28, 2016-Macomb, Michigan

According to FINRA records, financial advisor Thomas M. Hakim , who has been registered with  G.A. Repple & Co. since March 2014, currently has 18 outstanding judgments and/or liens, including:

  • Internal Revenue Service                  $298,141
  • Internal Revenue Service                  $95,774
  • Internal Revenue Service                  $37,575
  • Internal Revenue Service                  $7,107
  • State of Michigan                                   $13,090
  •  State of Michigan                                  $83,559
  • State of Michigan                                   $11,641
  • State of Michigan                                   $15,873
  • State of Michigan                                   $80,255

Hakin was registered with Mid Atlantic Capital Corporation from 5/2004-8/2012.

If you have questions about an account with Thomas M. Hakim or G.A. Repple, call 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870