ARI and William Brian Candler Allegedly Failed to Conduct Reasonable Due Diligence Regarding a Private Placement that the Firm Sold Directly to Retail Investors
ARI and William Brian Candler allegedly failed to conduct reasonable due diligence regarding a private placement that the firm sold directly to retail investors, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Alan Rosca and James Booker.
The aforementioned offering promoted by ARI and William Brian Candler was allegedly later discovered to be a Ponzi scheme and customers who purchased interests in it purportedly lost their collective investment principal of approximately $560,000, the aforementioned Complaint reports.
The Peiffer Rosca Wolf securities lawyers are currently investigating ARI and William Brian Candler’s alleged failure to conduct reasonable due diligence.
ARI Allegedly Recommended and Sold Interests in a Real Estate-based Private Placement Bridgeport Oaks Fund LLC, Which Was an Alleged Ponzi Scheme; ARI Censured and Fined $7,500 and William Brian Candler Censured, Suspended and Fined $2,500 by FINRA
William Brian Candler allegedly provided medallion signature guarantees for multiple pre-signed securities assignment forms without first having the forms signed in his presence or otherwise verifying their authenticity, according to the aforementioned Complaint being examined by attorneys Alan Rosca and James Booker.
ARI allegedly recommended and sold interests in a real estate-based private placement called the Bridgeport Oaks Fund LLC, the Complaint alleges. Bridgeport Oaks purportedly turned out to be a Ponzi scheme, and was directly to at least seven ARI customers which lost up to $560,000, the Complaint notes.
As a result of the aforementioned behavior, ARI and William Brian Candler allegedly violated NASD and FINRA Rules, and hence, and ARI has been censured and fined $7,500 and William Brian Candler has been suspended and fined $2,500 by FINRA, the Complaint reports.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged Ponzi schemes and are currently investigating ARI and William Brian Candler alleged failure to conduct reasonable due diligence regarding a private placement. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of ARI and William Brian Candler alleged failure to conduct reasonable due diligence regarding a private placement are encouraged to contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520.
from Investment Fraud Lawyers | Investor Loss Recovery http://ift.tt/29BdrUE
via Securitieslitigatos.com
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