Stoltmann Law Offices is investigating Kenley Brisard, Philip Brisard and Leigh Garber of Ridgeway & Conger, a registered broker-dealer out of New Woodstock, New York. According to a complaint filed with the Financial Industry Regulatory Authority (FINRA), Brisard, Brisard and Garber sold an unregistered security that consisted of interest-only strips from loans issued by the United States Small Business Association to five individual retail investors at undisclosed markups of 14-33% using general solicitation emails that fraudulently misrepresented the product and their involvement with the product. The brokers allegedly sent more emails that were fraudulent and contained misrepresentations and omissions to 115 additional customers and prospects between June and August 2010. Ms. Garber gave her written approval for the sale of the unregistered securities to the five customers even though the sales were against securities rules and regulations. Ms. Garber was the designated supervisor for the sale of private placements. She is also currently the President and Chief Executive Officer of Ridgeway & Conger. Both Brisard’s are registered representatives at the firm.
It is against securities rules and regulations for a firm to fail to establish and maintain a proper supervisory system and procedures. It is also against securities rules and regulations for a firm to use fraudulent emails and to misrepresent and omit material facts in those emails or other marketing materials. It is because of these transgressions that the firm can be sued in the FINRA arbitration process. If you or someone you know lost money with Kenley or Philip Brisard, or Leigh Garber and/or Ridgeway & Conger, please call our securities law firm in Chicago for a free consultation with an attorney. The firm has a responsibility to oversee all of its employees actions and if it does not, can be held liable for investment losses. We take cases on a contingency fee basis only so we only make money if you recover yours.
Kenley Brisard and Philip Brisard were registered with HGI, Ash & Co., IAR Securities Corp, National Securities Corp, Raymond James and Gunnallen Financial. Both are currently registered with Ridgeway & Conger in New Woodstock, New York and have been since March 2009. Kenley Brisard has one customer dispute against her and Philip Brisard has four against him. He also has one criminal disposition.