fbpx

Fort Myers Ameriprise Broker Sanctioned for Sale of REITs

Fort Myers Ameriprise Broker Sanctioned for Sale of REITs 150 150 Rex Securities Law

 

 Michael Anthony Hainsworth , formerly a broker with Ameriprise Financial (6/2009-5/2012) in North Fort Myers, Florida submitted a Letter of Acceptance, Waiver and Consent in which he was assessed a deferred fine of $10,000 and suspended from association with any FINRA member in any capacity for 30 business days. Without admitting or denying the findings, Hainsworth consented to the sanctions and to the entry of findings that he sent emails regarding a non-exchange-traded real estate investment trust (REIT) to potential investors that were misleading, not fair and balanced, and failed to provide a sound basis for evaluating the facts presented. The findings stated that based upon communications with Hainsworth, the investors invested funds totaling $322,167 in the REIT.

The suspension is in effect  from April 7, 2014, through May 19, 2014. (FINRA Case #2011027170902 )

Hainsworth previously was registered with Securities America 7/2009-9/2011. As of May 2014, FINRA records indicate that Hainsworth is not currently registered. 

If you have losses on non exchange traded REITs (real estate investment trusts) and believe that you were misled in connection with the purchase of the investments , call to find out how to recover losses 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

%d bloggers like this: