Articles Tagged with LLC

Vanguard Natural Resources, LLC acquires and develops oil and natural gas properties in the United States.  It owns properties, and oil and natural gas reserves primarily located in 10 operating basins.  This fund was heavily sold to investors in the U.S. and has sustained an almost complete loss and now trades less than $1 a share.  Many of the purchasers of VNR may have actionable claims against their brokjers for fraud, unsuitable investment recomneations and other related actions.  Please call us to ehar all of your options.

Stoltmann Law Offices continues to investigate Randall Gladden, a former broker with Securities Equity Group in Aliso Viejo, California. The Financial Industry Regulatory Authority (FINRA) alleged that Gladden sold $2.1 million worth of notes or units in the Church Development Fund, LLC, and the Church Fund, LLC, both of which Randall managed and operated. The Church Development Fund was purported to make loans to churches, including for real estate, but Gladden did not have permission from his brokerage firm to sell the notes. This month, Gladden agreed to pay FINRA a $15,000 fine and to a one-year suspension from the industry for his transgressions. Firms such as Securities Equity Group have a responsibility to reasonably supervise their brokers so they do not recommend and/or sell unsuitable securities. If they do, the firm can be responsible for investor losses. Please call our securities law firm today if you believe you have lost money with Gladden. We may be able to bring a claim on your behalf against Securities Equity Group in the FINRA arbitration forum on a contingency fee basis. The call is free so please call today.

Gladden was registered with Securities America in Lavista, Nebraska from August 1995 until May 1997, Securities Service Network in Knoxville, Tennessee from May 1997 until February 2002 and Securities Equity Group in El Cajon, California from April 2002 until March 2016. He has two customer disputes against him, neither of which are currently pending. This is according to his online, public FINRA BrokerCheck report.

According to a recent Financial Industry Regulatory Authority (FINRA) Disciplinary Proceeding, J. Randall Gladden was accused of soliciting at least seven investors to invest more than $2.1 million in funds through purchases of securities. Gladden helped create Church Development Fund, LLC and Church Fund LLC, to make loans to churches, primarily for refinancing their existing real estate loans. He also participated in the management of the funds and acted as Governing Member of the Funds’ respective Managers, CDF Managing Partners LLC. Gladden did not inform his firm, SEG, that he was involved in the activities, and falsely told the firm that he had not “engaged in any capital raising activities for any company, corporation or business entity,” and this is against securities rules and regulations. He was fined $15,000 and suspended for 12 months from association with all FINRA member firms in all capacities.

Gladden was registered with Securities America in Lavista, Nebraska from August 1995 until May 1997, Securities Service Network in Knoxville, Tennessee from May 1997 until February 2002 and Securities Equity Group in Cajon, California from April 2002 until March 2016. He has two customer disputes against him. If you invested money with Gladden, we may be able to help you sue his former firm, SEG, in the FINRA arbitration forum for losses. The call to us is free with no obligation. We sue firms such as SEG to recover financial losses for investors. Firms such as SEG have a duty to reasonably supervise their brokers while they are employed there.

Stoltmann Law Offices is investigating Pamela Posey, a stockbroker formerly with Securities America. According to the Financial Industry Regulatory Authority (FINRA), Posey disclosed the filing of a chapter 13 petition in the U.S. Bankruptcy Court for the Southern District of Florida in October 2013. This is a pending matter. She also disclosed three outstanding judgments/liens to Chateaux Fall Creek, LLC. According to her FINRA online BrokerCheck report, Posey was registered with American General Distributors Inc. in Houston, Texas from June 2004 until June 2006, Valic Financial Advisors in West Palm Beach, Florida from December 2010 until September 2012, AXA Advisors in Boca Raton, Florida from September 2012 until June 2013, Pruco Securities in West Palm Beach, Florida from June 2013 until July 2014 and Securities America in Boynton Beach, Florida from August 2014 until May 2016. She has three judgments/liens against her. She is not licensed within the industry. 312-332-4200 to speak to an attorney. The call is free. Please call today.

Stoltmann Law Offices is investigating Bridgeport Oaks Fund LLC. The Financial Industry Regulatory Authority (FINRA) is investigating William Candler, former President and Chief Compliance Officer of ARI, who allegedly failed to establish an adequate supervisory system to ensure the sales of a number of private placements. One of the private placements he sold was Bridgeport Oaks Fund LLC. Candler failed to conduct adequate due diligence on Bridgeport Oaks Fund LLC, which turned out to be a ponzi scheme, and seven ARI customers lost at least $560,000. Bridgeport Oaks was a purported tenant-in-common (TIC) investment issued by Michael Franks, LLC, doing business as Lanis Securities. In May 2011, the U.S. Attorney’s Office for the Northern District of Illinois charged Michael Morawski and Frank Constant with running a $16 million fraud. If you invested with William Candler, ARI or Bridgeport Oaks Fund, you may be able to recover your losses by calling Stoltmann Law Offices today and speaking to one of our attorneys for free. We can discuss your options with you.

Stoltmann Law Offices is interested in speaking to investors of the Minerva-Rockdale E&P IV, LLC, a private placement offering in March 2013. The private placement authorized the issuer Euro Pacific Capital to raise $17,365,000 for a pooled investment fund to invest in existing oil production in Texas. This investment is a private placement offering and therefore cannot be sold on any conventional market. Recently, a related fund, Minerva-Rockdale E&P III sent out a letter advising investors that they are still not receiving any revenue from the property. They were also advised that “a few new developments also do not bode well for the longevity and financial health of our company.” If you have losses with Minerva-Rockdale E&P III or IV, you may be able to recover your losses through FINRA arbitration. Please call our law offices to speak to an attorney about your options. 312-332-4200.

Shares of Energy Tranfer Equity plunged after the company disclosed that it was making a change to the Chief Financial Officer of its general partner. Meanwhile, master limited partnerships (MLPs) and other peers were downgraded by research firm Robert W. Baird. MLPs are publicly traded partnerships that receive tax benefits and often own oil assets. The downgrade comes because of the bankruptcy of exploration and productions companies, fund outflows and macroeconomic conditions. Other companies that were downgraded include EnLink Midstream (ENLC) ONEOK Partners (OKS), Plains All American (PAA) and Plains GP Holdings. Thomas Long will replace Jamie Welch as CFO of Energy Transfer Equity. Long is currently the CFO of Energy Transfer Partners, LLC which owns Energy Transfer Partners, LP, another MLP. Please call our law offices is you have experienced losses in MLPs.

Stoltmann Law Offices is investigating J. Randall Gladden, who recently entered into a Disciplinary Proceeding with the Financial Industry Regulatory Authority (FINRA). He is accused of selling away, which is when a broker offers and/or sells a security that is not offered by his member firm. In Gladden’s case, he was registered with Securities Equity Group as a broker and allegedly conceived of and participated in the sales of securities for the Church Development Fund, LLC. The fund was used to make loans to churches, primarily for refinancing their existing real estate loans. From May 2011 until September 2013, Gladden solicited seven investors to invest more than $2.1 million in the fund through their securities purchases. For the sale of these securities, Gladden received an “operator fee.” If you invested money with J. Randall Gladden, you may be able to recover your investment losses by calling our law offices in Chicago. His firm, Securities Equity Group, may be responsible for your losses because they had a duty to reasonably supervise Gladden while he was employed with them.

Gladden was registered with Securities America Inc. in Lavista, Nebraska from August 1995 until May 1997 and Securities Service Network in Knoxville, Tennessee from May 1997 until February 2002. He is currently registered with Securities Equity Group in El Cajon, California and has been since April 2002. He has two customer disputes against him, according to his online public FINRA BrokerCheck report.

Stoltmann Law Offices is investigating Robert Turpin, a former registered representative with Source Capital Group. Turpin is accused of engaging in outside business activities, also commonly referred to as “selling away.” This is when a broker solicits and/or sells an investment that is not held or offered by his member firm. It is used exclusively to garner large commissions for the broker. Turpin is accused of selling the following products: Tartesso West Multi Family LLC, Tartesso West Commercial Mixed Us, LLC, Tartesso West High Density Reidential II, Tampa Bay Investors LLC, Tampa Bay Investors II, LLC, Tampa Bay Investors III, LLC, Alliance Equity Investors, Alliance Equity Investors Colorado LLC, and New Alliance Opportunity Investors LLC.

Robert Turpin was registered with Stiteler Investments from September 1982 until August 1985, First Financial Equity Corp in Scottsdale, Arizona from August 1985 until October 1991, M.F. Diessner Securities Corp in Phoenix, Arizona from January 1992 until July 1992, FSC Securities Corp in Atlanta, Georgia from July 1992 until February 1997, Uinta Investments in Gilbert, Arizona from March 1997 until August 1997, Desert Star Capital in Phoenix from July 1997 until August 2001, and Source Capital Group in Scottsdale from February 2010 until September 2015. He is not licensed within the industry. If you invested money with Turpin or one of the aforementioned investments, please call our securities law offices in Chicago to speak to an attorney for free. You may be able to sue his firm, Source Capital Group, for failing to reasonably supervise him. They can be held liable for investment losses.

Stoltmann Law Offices is investigating Halcyon Cabot Partners, and its principals, Michael Trent Morris and Ronald Mark Heineman. They are accused of engaging in a scheme to defraud investors by causing Halcyon to serve as a bogus placement agent to conceal a kickback of a private placement fee, for the firm to serve as a false sales agent so an expelled broker could charge commissions to buyers and sellers in private sales of securities, to falsify records of securities trades for the now-expelled broker, and of engaging in unauthorized and excessive trading in customer accounts. Excessive trading is also referred to as “churning” and is a practice that largely generates commissions for the broker, and is against securities laws and regulations.

In May 2012, Morris Heineman and now-barred representative, Craig L. Josephberg, set up a scheme so that their member firm, Halcyon, would help conceal the discount provided to a venture capital firm, Socius Capital Group, LLC., when it purchased a private placement in Cell Therapeutics, Inc., a cancer drug development company. The firm would earn a 5% fee in the offering (almost $1 million), but the firm also entered into a separate, undisclosed agreement with an affiliate of Socius, through which Halcyon gave back nearly almost all of the 5% fee back to Socius. The representatives also improperly facilitated efforts by Felix Investments, to collect commissions for themselves from both buyers and sellers, in private securities transactions. Halcyon allowed a Felix broker to dually register with both firms so that Felix could charge buyer commissions and Halcyon could charge seller commissions.

Between June 2011 and March 2013, Halcyon, through Josephberg, engaged in churning and excessive trading in the accounts of two firm customers. During this period, Halcyon and Morris, failed to establish and implement an adequate and reasonable system designed to cause the detection and reporting of suspicious activity. At the time, Morris was designated to serve as the Compliance Officer for Halycon, even though he did not have the requisite knowledge or training to serve as such.

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