Stoltmann Law Offices is investigating Mark Thomas McCloskey, who has customer complaints against him. McCloskey was most recently registered with FSIC in Seattle, Washington. Before that, he was registered with Pacific West Securities in Renton, Washington from 2002 until 2012, Crosse International Securities in Seattle, Washington from 2001 until 2002, National Securities Corporation in Seattle from 1995 until 1999, G.R. Stuart & Co. in Maynard, Massachusetts from 1993 until 1995, Tucker Anthony Inc. in Boston from 1990 until 1993, Painewebber Inc. in Weehawken, New Jersey from 1988 until 1990 and other firms since 1972.
In 2014, the state of Washington sanctioned Mark Thomas McCloskey, alleging he failed to enforce an adequate supervisory system for the sale of tenant-in-common (TIC) investments. For this, he was fined $5,000. TIC investments can be risky and illiquid ones, and may not be suitable for all investors. Brokers have a duty to do their due diligence to ensure that the investments they recommend are suitable for investors. If they do not, they can be held liable for investment losses and can be sued in the Financial Industry Regulatory Authority (FINRA) forum to recover those losses.
Other complaints allege that he breached fiduciary duty, misrepresented and omitted material facts related to an investment, and engaged in negligence and fraud connected to the purchase of two TIC investments. Some of the complaints against him are still pending. If you lost money with Mark Thomas McCloskey, please call our securities law firm in Chicago, Illinois to speak with one of our securities attorneys. We may be able to help you recover investment losses by suing McCloskey’s former firm, Pacific West Securities, in the FINRA arbitration forum. The call is free with no obligation. Time is of the essence so please do not delay.