Category Archives: PlanMember Securities Corp.

Plan member Securities Broker Gregory Langsett Barred From Securities Industry

October 24, 2014-Ft. Lauderdale, FLorida

Gregory S. Langsett entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he failed to provide information and documents in connection with a FINRA investigation that he participated in a private securities transaction in December 2013 by soliciting an elderly customer to invest in a purported hedge fund without permission from his member firm, Planmember Securities Corporation.   Case # 2013039263101.

Langsett was permanently barred from the securities industry. FINRA records indicate Langsett was registered with Planmember Securities Corp from 10/2013-6/2014.  Prior to that he was registered with Austin, Texas-based, Veritrust Financial from 4/2002-10/2013.

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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Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

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Investors May Be Able to Recover Losses on Diversified Lending Group Notes

Diversified Lending Group (DLG) was a California corporation purported to be in the business of acquiring and operating income producing properties. In 2009, the Securities & Exchange Commission filed suit alleging that DLG was a $216 million dollar securities fraud and froze the assets of the company and appointed a receiver.

DLG offered promissory notes in the form of one or five year Secured Investment Notes that guaranteed rates of return of 9% or 12%. Applied Equities, Inc. a subsidiary of DLG functioned as DLG’s investment servicing division and contracted with other entities including stockbrokers and broker-dealers who sold the notes nationwide.

Bruce Fred Friedman died in French custody in March 2012 while awaiting extradition to Los Angeles on charges related to the scam.

In February 2013, an Order Accepting Offer of Settlement was entered in the FINRA Department of Enforcement complaint against Forrest Nolan Jackson, who at the time in question was a broker with PlanMember Securities Corporation, and who, according to the complaint, had sold $60 million of the notes. Jackson sold the notes through an entity called Your Platinum Distributors and without the approval of his employer PlanMember Securities. Jackson was barred from associating with any FINRA member in any capacity. FINRA records reveal that Jackson worked for the following firms during the time he was registered:

  • Grant Williams L.P.                         8/2009-1/2011
  • Longview Financial Group              5/2009-7/2009
  • Ascher/Decision Services                10/2008-3/2009
  • PlanMember Securities                     2/2007-7/2008
  • Quest Capital Stratigies                    9/2005-8/2006
  • Jackson National Life Distributors   7/2000-10/2003

If you purchased any of the Diversified Lending Group notes from a registered broker dealer, you may be able to recover all or a part of your losses through FINRA arbitration. Call for a no charge consultation with an experienced securities fraud attorney.

Rex Securities Law , located in Boca Raton, FL, 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

561 391 1900