October 29, 2014-San Antonio, TX– The San Antonio Express-News reports that Brian K. Alfaro, a local businessman, has been sued by Benito Hernandez who seeks over $1 million from Alfaro and his companies Primera Energy, LLC, Alfaro Oil and Gas LLC and Alfaro Energy LLC.
The suit, which is filed in Bexar County District Court, alleges that the defendants provided exaggerated production estimates and unrealistic projected investment returns.
In April 2011, FINRA (the Financial Industry Regulatory Authority) suspended Pinnacle Partners Financial Corporation and Alfaro, who was its then President, for failure to comply with a FINRA Temporary Cease and Desist Order prohibiting their fraudulent misrepresentations. A complaint filed by FINRA alleged that Alfaro and Pinnacle operated a boiler room operation where brokers placed thousands of cold calls weekly soliciting investments in oil and gas ventures.
FINRA is the largest independent regulator for all securities firms doing business in the United States.
Rex Securities Law provides nationwide representation to investors 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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