Stoltmann Law Offices is investigating Bradley Friedmark, a former broker with ProEquities Inc. Mr. Freidmark allegedly held several lunch seminars where investors were sold real estate investment trusts (REITs) in Behringer Harvard and private placements such as Leaf Equipment. A REIT is a type of security that invests in real estate through mortgages or property and trades similar to a stock. REITs tend to be very risky and illiquid investments that are not suitable for all investors. Private placements are securities offerings exempt from registration with the SEC. Private placements are also risky investments. A client should only be sold a REIT or a private placement once a full background check of his age, net worth, investment sophistication and investment objectives are clearly stated and understood. If a broker sells a risky and unsuitable investment to a client, and that client loses money because of it, the broker’s investment firm may be responsible for investment losses because that firm was not reasonably supervising the broker.
Freidmark was registered with Mony Securities Corp in New York, New York from January 1998 until February 1999, The Lincoln National Life Insurance Company in Fort Wayne, Indiana from February 1999 until March 2000, and ProEquities Inc. in Otsego, Minnesota from March 2000 until August 2015. Please call our Chicago-based securities law firm today for a free consultation with one of our attorneys if you feel you may have a claim to bring against Freidmark and ProEquities. We may be able to take your case on a contingency fee basis to recover your investment losses.