Tracy Rae Turner — Private Securities Transactions

Tracy Rae Turner Allegedly Sold $4.1 million in Interests in Saltwater Disposal Wells Used in Oil and Gas Production to 12 Investors without Proper Prior Written Notice to Colorado Financial; Turner Allegedly Disseminated False and Misleading Communications to the Public about the Investments

Tracy Rae Turner allegedly participated in private securities transactions without giving his firm, Colorado Financial, prior written notice and also purportedly disseminated false and misleading communications to the public regarding the investments, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in issues related to Tracy Rae Turner’s alleged participation in private securities transactions.

Investors who believe they may have lost money in activity related to Tracy Rae Turner’s alleged participation in private securities transactions are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

Turner allegedly sold $4.1 million in interests in saltwater disposal wells that are implemented in oil and gas production to 12 investors without giving his employer firm prior written notice, according to the aforementioned Complaint.

Turner, from September 2013 to April 2014, allegedly offered and sold interests in saltwater disposal well facilities (SWD’s), the Complaint states.

Tracy Rae Turner Barred and Fined $272,000 by FINRA

Turner, by allegedly disseminating false and misleading communications to the public about the investments and failing to get prior approval for the communications, allegedly violated NASD and FINRA Rules and therefore has been barred by FINRA, according to the aforementioned Complaint currently under review by attorneys Alan Rosca and James Booker.

Turner has also been fined $272,879.04, or an amount equal to the commissions he earned from the sales, and also has been suspended for one year from associating with any FINRA member firm in any capacity and fined $20,000 for violating FINRA’s advertising rules, the Complaint notes.

Turner was registered as a general securities representative, general securities principal, and operations professional with Colorado Financial Service Corporation from January 2011 to December 1, 2014, when the firm allegedly filed a Uniform Termination Notice to terminate his registrations, the Complaint reports.

Turner has also purportedly remained unregistered and has not re-associated with another FINRA member firm, the Complaint states.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged investment fraud and are currently investigating Tracy Rae Turner’s alleged participation in private securities transactions. 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 Tracy Rae Turner’s alleged participation in private securities transactions may 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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FS Energy and Power Fund Sales Practices by Investment Professionals Investigated by Securities Lawyers

The investors’ rights attorneys at Peiffer Rosca Wolf are investigating Franklin Square Capital Partners’ FS Energy and Power Fund (“FSEP”) sale practices of certain investment professionals who recommended and sold FSEP to their customers.

FSEP is a non-traded business development company that invests in the debt of private U.S. energy and power companies, and according to Franklin Square is designed to provide investors with access to alternative asset classes that are typically only available to the very biggest institutional investors.

As with other alternative investments, FSEP presents inherent risks associated with the reduced oversight of unregistered securities, as well as the frequently high sales commissions and due diligence fees, which can provide brokers with an incentive to sell them without looking too closely at their finances, to investors who may not understand the inherent risk of the product.

Peiffer Rosca Wolf Lawyers Investigating Broker Sales of FSEP Products to Investors

On occasion, the Peiffer Rosca Wolf lawyers believe some brokers may have misrepresented the investment to sell more of it, or improperly recommend excessive or otherwise unsuitable FSEP investment products to their customers.

Investment professionals have a duty to only recommend suitable investments to their customers. To determine whether a product is suitable, the broker must first conduct adequate due diligence as to that investment and have a reasonable basis to recommend it. Additionally, a broker’s investment recommendations must take into account the investor’s risk profile and expectations and investment experience.  Brokers may not recommend risky investments to investors unwilling or unable to accept high risks.  Lastly, investment professionals may not typically recommend excessive quantities of one single investment product, which could result in an improperly high risk concentration in an investor’s portfolio.

FSEP closed to new investors on November 17, 2016. On December 30, 2016 FSEP increased its share issue price under the distribution reinvestment plan in order to ensure that shares were not issued at a price below the net asset value.

FSEP Investors May Contact Peiffer Rosca Wolf Securities Lawyers

Securities litigation attorneys Alan Rosca and James Booker of the Peifer Rosca Wolf law firm are currently investigating FSEP. Investors who believe they may have lost money investing in FSEP or other business development companies may contact the investors’ rights attorneys at Peiffer Rosca Wolf for a free evaluation of your potential claim.

The Peiffer Rosca Wolf lawyers typically take investor cases on a contingency fee basis, advance case expenses, and only get paid for their fees and expenses if and when they recover money for their customers.  For a free, no obligation evaluation of their legal options, FSEP investors may contact attorneys Alan Rosca and James Booker, toll free at 1.888.998.0520 or via email at arosca@prwlegal.com.

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Traffic Monsoon Investor alert: Traffic Monsoon’s Alleged Fraud is the Subject of a Civil Action Filed by Peiffer Rosca Wolf Lawyers on Behalf of Certain Traffic Monsoon Investors

Traffic Monsoon and Charles Scoville were sued by the Securities and Exchange Commission in July 2016.  Traffic Monsoon and Scoville are alleged to have operated a fraudulent scheme that raised over $200 million from over 160,000 members/investors worldwide.  A receiver has been appointed in that action.

Traffic Monsoon Members Represented by Peiffer Rosca Wolf Lawyers File a New Action to Seek Compensation for Their Losses

Peiffer Rosca Wolf lawyers recently filed a lawsuit in federal court in California on behalf of certain Traffic Monsoon investors against PayPal, Inc. and PayPal Holdings, Inc. This new action seeks to supplement amounts that the Receiver may be able to recover from Traffic Monsoon and Scoville in the Securities and Exchange Commission action.

The Peiffer Rosca Wolf lawyers are not affiliated with the Receiver and their lawsuit is unrelated to the receivership.

Peiffer Rosca Wolf Lawyers Seek to Recover Damages for Traffic Monsoon Investors

Peiffer Rosca Wolf lawyers often represent investors who lose money as a result of alleged fraudulent investment schemes and have been investigating the alleged fraudulent scheme conducted by Traffic Monsoon and Charles Scoville.  The law firm takes most cases of this type on a contingency fee basis and advances the case costs.  The firm only gets paid for fees and costs out of money the firm recovers for clients.

Investors who believe they lost money as a result of Traffic Monsoon’s alleged investment fraud scheme are encouraged to contact Alan Rosca, James Booker or Lydia Floyd in the Cleveland office of Peiffer Rosca Wolf, for a free no-obligation evaluation of their recovery options, at 888-998-0520 or jbooker@prwlegal.com.

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Thomas Edward Andrews— Fraudulent Theft of Investment Funds

Thomas Edward Andrews, Purportedly with the Known Assistance of Scott Walter Christensen, Allegedly Convinced 23 Investors to Put $8.38 million of Savings and Retirement Funds into Two Investments; Andrews Allegedly Solicited Investors, Mostly from a Small Utah Community, into Two Investments,  “the Jackson Trust” and “the Lincoln”

Thomas Edward Andrews, with the knowing assistance of Scott Walter Christensen and from 2010 through the autumn of 2015, allegedly lured 23 investors to put savings and retirement funds into two investments, “the Jackson Trust” and “the Lincoln”, according to an SEC Complaint currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in issues related to Thomas Edward Andrews’ alleged investment fraud.

Investors who believe they may have lost money in activity related to Thomas Edward Andrews’ alleged investment fraud are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

Thomas Edward Andrews allegedly went after investors who were financially unsophisticated and residents of a small rural Utah community, according to the aforementioned SEC Complaint.

Thomas Edward Andrews, a former LPL Financial representative who was employed as an independent contractor by Gary A. York & Associates of Salt Lake City, an office of supervisory jurisdiction of LPL Financial, allegedly made statements to his investors that they were making financial investments, the Complaint reports.

Andrews, however, was allegedly misappropriating investor funds for his own use and the purported aforementioned scheme brought in approximately $8.38 million, the Complaint notes.

A high percentage of Andrews’ alleged victims were people he had previously known while growing up in Nephi, Utah, and many of the individuals had first been clients of a tax, accounting and bookkeeping business run by Andrews’ father, the SEC Complaint notes.

Thomas Edward Andrews and Scott Walter Christensen, directly and indirectly, singly and in concert, have also allegedly made use of the means of interstate commerce and the mails in connection with the transactions, acts and courses of business alleged herein, most of which have occurred within Utah, the Complaint reports.

The Peiffer Rosca Wolf securities lawyers are currently investigating Thomas Edward Andrews’ alleged fraudulent theft of investment funds.

Thomas Edward Andrews Allegedly Began Making Suggestions to his Clients that They Sell off Other Investments and Put Money in “the Jackson Trust”; In reality, the “Jackson Trust” Never Existed and Andrews Allegedly Was Misappropriating Clients’ funds for Personal Use

Thomas Edward Andrews allegedly began urging his clients that they liquidate their other investments and invest in “the Jackson Trust”, according to the aforementioned SEC Complaint currently under review by attorneys Alan Rosca and James Booker.

In reality, the “Jackson Trust” allegedly did not exist and Andrews was simply misappropriating his clients’ funds for personal use, the Complaint reports.

Andrews allegedly organized a bank account called the “Jackson Trust” at a local credit union, and he himself was the trustee and sole signatory, the Complaint reports.

Thomas Edward Andrews, according to the SEC Complaint, allegedly simply deposited the investors’ checks into the aforementioned accounts and over a period of time and purportedly transferred the funds to his own account at the same credit union without the knowledge of his investors.

Thomas Edward Andrews also allegedly never made transfers of his investors’ funds to any legitimate investment, the Complaint notes.

Andrews also allegedly hid his activity related to the Jackson Trust from his supervisor at York & Associates and from LPL and also allegedly made statements to his investors that the Jackson Trust provided 6 to 8.5% annual returns, the Complaint states.

What is more, Thomas Edward Andrews also allegedly promised investors that the investment was of a “guaranteed” nature and also told a few investors specifically that the investment was guaranteed by LPL, the Complaint reports.

Andrews, for example, allegedly told another investor that he also had special access to this particular opportunity because of his contacts with certain so-called “capital companies”, the SEC Complaint notes.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment fraud and are currently investigating Thomas Edward Andrews’ alleged fraudulent theft of investment funds. 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 Thomas Edward Andrews’ alleged fraudulent theft of investment funds may 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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Capitol Equity FX LLC, Robert Leland Johnson IV, Marisa Elena Johnson– Misrepresentations and Material Omissions

Capitol Equity FX LLC,  a purported California hedge fund, and its principals and agents, Robert Leland Johnson IV and Marisa Elena Johnson, Allegedly Made Material Misrepresentations and Omissions Knowingly Regarding their Trading Abilities, Strategies, and Profits in Order to Bring in and Transfer Funds to Pool Participants

Capitol Equity FX LLC and its principals and agents, Robert Leland Johnson IV and Marisa Elena Johnson, allegedly knowingly made material misrepresentations and omissions concerning their trading abilities, strategies, and profits for the purpose of enticing pool participants to transfer funds, according to Documents from the U.S. Commodity Futures Trading Commission (CFTC) currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in issues related to Capitol Equity FX LLC’s alleged investment fraud.

Investors who believe they may have lost money in activity related to Capitol Equity FX LLC’s alleged commodity’s fraud are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

Capitol Equity FX LLC, a purported hedge fund operating in California, also allegedly committed commodity futures fraud, off-exchange, leveraged or margined retail foreign currency (FOREX) fraud, commodity pool fraud, and also allegedly failed to register with the CFTC, according to the aforementioned CFTC Documents.

The Peiffer Rosca Wolf securities lawyers are currently investigating Capitol Equity FX LLC’s alleged investment fraud.

Capitol Equity FX LLC, and its principals and agents, Robert Leland Johnson IV and Marisa Elena Johnson, Allegedly Made Fraudulent Solicitations of at least $1,735,750 from Public Members to Participate in a Pooled Fund that Traded Commodity Futures and FOREX Contracts; Capitol Equity FX LLC  Allegedly Made Ponzi-like Payments

Capitol Equity FX LLC and its principals and agents, Robert Leland Johnson IV and Marisa Elena Johnson, from at least May 2012 through May 2015, allegedly made fraudulent solicitations of at least $1,735,750 from people in a so-called pool fund that traded commodity futures and FOREX contracts, according to a CFTC Complaint currently under review by attorneys Alan Rosca and James Booker.

What is more, the aforementioned defendants also allegedly created the aforementioned pool participants with fabricated performance statements and account documents designed to mislead pool participants, said Complaint notes.

The aforementioned defendants also allegedly diverted a percentage of pool participants’ funds to earlier customers in a so-called Ponzi-like manner, the Complaint notes.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment fraud and are currently investigating Capitol Equity FX LLC’s alleged investment fraud. 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 Capitol Equity FX LLC’s alleged investment fraud may 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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Demitrios Hallas—Unsuitable Trading in Customer Accounts

Demitrios Hallas Allegedly Engaged in Reckless Trading of Investment Instruments in the Accounts of Five Customers; Hallas Also Allegedly Misappropriated over $170,000 from One Customer

Demitrios Hallas knowingly or recklessly allegedly made trades in unsuitable investment products in the accounts of five customers and also allegedly misappropriated over $170,000 from one customer, according to an SEC Complaint.

Demitrios Hallas allegedly regularly traded unsuitable investments in his customers’ accounts which ultimately exposed unsophisticated customers with limited or no investing experience and modest incomes, net worth levels, and assets to significant degrees of volatility and risk, the SEC Complaint notes.

Hallas, in under a year, allegedly traded 179 daily leveraged exchange traded funds (ETFs) and exchange traded notes (ETNs) in the customers’ accounts, which went on to  generate commissions and fees of approximately $128,000, the SEC Complaint reports.

Demitrios Hallas Allegedly Accrued Net Losses of $150,000 across179 Trading Positions

Demitrios Hallas allegedly generated commissions and fees of approximately $128,000 and the alleged net loss across all 179 positions was approximately $150,000, according to the aforementioned SEC Complaint.

The SEC’s complaint further alleges that Hallas allegedly misappropriated over $170,000 in funds from a single customer, the Complaint notes.

Hallas, instead of investing the funds on the customer’s behalf, allegedly made deposits of funds into his own personal bank accounts and used them on personal expenses, including large bar and restaurant bills, credit card and student loan payments, and rent, the SEC notes.

It should also be noted that the SEC alleges that ETFs and ETNs are inherently risky, complex and volatile, and only appropriate for sophisticated investors.

The Peiffer Rosca Wolf Securities Lawyers Often Assist Investors

The Peiffer Rosca Wolf securities lawyers assist investors who lose money as a result of unsuitable trading. 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 have lost money as a result of unsuitable trading schemes 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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Thomas Edward Andrews—Investment Fraud

Thomas Edward Andrews, a Former LPL Financial Representative, Allegedly Convinced 23 Investors to Put Savings and Retirement Funds into Two Investments, “the Jackson Trust” and “the Lincoln”; Most Investors Were from a Small Utah Community

Thomas Edward Andrews, from 2010 through the autumn of 2015, allegedly convinced 23 investors to Put Savings and Retirement Funds into Two Investments, “the Jackson Trust” and “the Lincoln”, according to an SEC complaint currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in issues related to Thomas Edward Andrews’ alleged investment fraud.

Investors who believe they may have lost money in activity related to Thomas Edward Andrews’ alleged investment fraud are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

Thomas Edward Andrews, a former LPL Financial representative who was employed as an independent contractor by Gary A. York & Associates of Salt Lake City, an office of supervisory jurisdiction of LPL Financial, allegedly targeted financially unsophisticated residents of a small rural Utah community, according to the aforementioned SEC Complaint.

The majority of Andrews’ alleged victims were individuals he had previously known while growing up in Nephi, Utah, and many people had first been clients of a tax, accounting and bookkeeping business run by Andrews’ father, the SEC notes.

The Peiffer Rosca Wolf securities lawyers are currently investigating Thomas Edward Andrews’ alleged investment fraud.

Thomas Edward Andrews Allegedly Guaranteed Investors that the “Jackson Trust” would bring an Annual Return of 6 to 8.5 Percent and that the “Lincoln” investments would Purportedly Bring in 5 Percent or the Quarterly S&P Index, Whichever was Higher

Thomas Edward Andrews allegedly told investors that the “Jackson Trust” was good for guaranteed annual returns of 6 to 8.5 percent and that the “Lincoln” investments would generate a return equal to 5 percent, or the quarterly S&P index return, whichever number was higher, according to the aforementioned SEC Complaint currently under review by attorneys Alan Rosca and James Booker.

Andrews allegedly set up bank accounts for the fictitious entities at a local credit union, with himself as trustee and sole signatory, the Complaint reports.

Andrews allegedly deposited investors’ checks into said accounts and eventually transferred the funds to his own account at the same credit union, all purportedly without the knowledge of his investors, the Complaint states.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment fraud and are currently investigating Thomas Edward Andrews’ alleged investment fraud. 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 Thomas Edward Andrews’ alleged investment fraud may 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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