Articles Tagged with Pacific West Securities

AdobeStock_33766885-1-300x200Are you concerned about losses you may have sustained because of George Merhoff, and Cetera Financial Group? If so, the securities attorneys at Stoltmann Law Offices may be able to help you recover those investment losses by bringing legal action against Cetera. We sue brokerage firms like Cetera in the Financial Industry Regulatory Authority (FINRA) arbitration forum on a contingency fee basis. The firm may be responsible for losses because it has a duty to supervise its representatives, such as Merhoff, and, if it does not, can be held liable for money losses. The call to us is free with no obligation, so please call 312-332-4200 for a consultation with an attorney.

George Merhoff allegedly over-concentrated client portfolios in unsuitable, high-risk, alternative energy investments, such as Linn Energy. Investments like Linn Energy in the oil and gas and energy sector tend to be extremely illiquid investments. Merhoff also was alleged to have recommended unsuitable investments, been negligent, breached fiduciary duty and breached contract since December 2015. All of these are against industry rules.

Merhoff was registered with AAG Securities in Cincinnati, Ohio from September 1997 until March 1998 and Pacific West Securities in Klamath Falls, Oregon from June 1998 until February 2012. He is currently registered with Cetera Advisors in Klamath Falls and has been since February 2012. He has 10 customer disputes against him, all of them pending and two criminal final dispositions.

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.

Stoltmann Law Offices is investigating Leslie Anne Cannon, a former broker with Centaurus Financial in Issaquah, Washington. She is accused of breaching fiduciary duty, violating state rules, violating Financial Industry Regulatory Authority (FINRA) rules, and acting negligently. Cannon was registered with Pacific West Securities from January 2007 until January 2012 and Centaurus Financial since January 2012. She is currently registered with Centaurus. She has two customer disputes against her, one of which is currently pending. If you invested money with Leslie Anne Cannon, you may be able to recover your investment losses by calling us at 312-332-4200. Centaurus and Pacific West may be liable for failure to supervise her while she was employed with them. The call is free with no obligation. We take cases on a contingency fee basis.

Stoltmann Law Offices is investigating Craig Douglas Johnsen, who was under investigation by the Financial Industry Regulatory Authority (FINRA). Johnsen allegedly incorrectly placed customer funds in speculative and unsuitable investments, and sold fraudulent investments in private placements and limited partnership interests, equipment leasing and real estate security. These actions are violations of securities laws. Johnsen was registered with First Washington Corp in Seattle, Washington from March 1991 until May 1992, IFG Network Securities in Atlanta, Georgia from May 1994 until April 1995, SunAmerica Securities in Phoenix, Arizona from May 1996 until June 1997, Forth Financial Securities in Richmond, Virginia from June 1997 until September 1997, Key Investments in Cleveland, Ohio from September 1997 until July 1998 and Pacific West Securities in Renton, Washington from May 2000 August 2005. He is currently registered with RP Capital LLC in Gig Harbor, Washington since November 2005. He has four customer disputes against him. If you invested money with Johnsen, you may be able to sue RP Capital for investment losses, as they had a duty to reasonably supervise him while he was employed there. We are based in Chicago, Illinois. 312-332-4200. The call is free.

Stoltmann Law Offices is investigating Philip Pizelo, a former broker with Pacific West. Pizelo is not currently licensed to act as a broker. Pizelo served as Chief Executive Officer of Pacific West and is accused of approving and supervising the sale of a private placement without adequately evaluating its risks. For this, the Financial Industry Regulatory Authority (FINRA) fined him $20,000 and suspended him from acting as principal. Private placements are securities that are sold that are not registered securities with a brokerage firm. Oftentimes, they are unsuitable for clients, and selling private placements is against securities rules and regulations. Pizelo was also accused of breaching fiduciary duty, misrepresenting material facts, committing common law fraud, and violating state and federal securities laws, among other allegations.

Pizelo was registered with Dain Bosworth Inc., Quest Capital Strategies, Inc., Metropolitan Investment Securities, Great Northern Financial Securities and Pacific West Securities in Renton, Washington from June 2002 until June 2012. He is not currently licensed or registered with any FINRA member firm. He has eight customer disputes against him, all of which are pending. If you invested money with Philip Pizelo, his former firm, Pacific West, may be liable for investment losses. Please call us at 312-332-4200 to speak with an attorney about your options. The call is free with no obligation. We take cases on a contingency fee basis.

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