A National Securities Arbitration & Investment Fraud Law Firm
Silver Law Group founder Scott Silver has weighed in on the move by many CrowdStreet investors who lost money in a failed Nightingale properties purchase. While he is not involved in the bankruptcy or litigation, Scott has paid close attention to the case. He is also a co-chair of the nonprofit American Association for Justice’s Securities and Financial Fraud Litigation Group. Continue reading ›
Silver Law Group recently wrote that it was investigating L Bonds offered by GWG Holdings, following GWG’s temporary suspension of sales of L Bonds. In March 2021, GWG notified the Securities and Exchange Commission (SEC) that it could not timely file its Forms 10-K and 10-Q, which are annual and quarterly financial reports and company disclosures. GWG said it needed additional time to complete these financial statements and related disclosures. This prompted a deficiency letter from Nasdaq in April 2021. Continue reading ›
David Karandos (David Michael Karandos CRD# 1934119), a previously-registered broker and investment adviser who last worked for Dinosaur Financial Group, LLC in Indianapolis, Indiana, is the subject of multiple customer disputes. Before working for Dinosaur Financial Group, Karandos worked for Morgan Stanley Smith Barney and UBS Financial Services. Continue reading ›
Did you invest in the YieldStreet? Silver Law Group, a nationally-recognized class action and investment fraud law firm, is investigating claims on behalf of YieldStreet investors after an oil and gas deal and five marine loan investments that have not returned principal or paid interest by YieldStreet’s due dates.
YieldStreet Inc. is an online investment platform that markets its alternative investments as exclusive deals that are typically reserved for big investors. YieldStreet investors buy into “notes” that are designed to make scheduled cash distributions. These notes are loans, backed by a wide range of assets, including ships, legal settlements and even artwork. To date, YieldStreet has raised more than $1 billion from retail investors for these alternative investments. Continue reading ›
![Hugh Barndollar (Hugh Ordway Barndollar III, CRD #3027317, aka “Hobby Barndollar”) is a former registered broker and currently registered investment advisor last employed by Crown Capital Securities, L.P. (CRD#: 6312) of Land O’Lakes, FL. Barndollar was employed with Crown Capital until he voluntarily resigned on December 31, 2021. His previous employers include Newport Coast Securities, Inc. (CRD# 16944, expelled by FINRA, 6/25/2018) of Odessa, FL, J.P. Turner & Company, L.L.C. (CRD# 43177) of New Port Richey, FL, and Calton & Associates, INC. (CRD# 20999) of Ocala, FL. He has been in the industry since 1998. While at Crown Capital, Barndollar also served as an investment advisor representative (IAR) through a registered investment advisory firm (RIA) providing asset management services. In this capacity he recommended and facilitated investments in ten private offerings for alternative investments. He participated in 28 unapproved private securities transactions for 18 clients totaling $1,418,108.00. Of the 18, 12 were also customers of Crown Capital. Although Barndollar notified Crown Capital of his outside business activity, he did not notify the firm with prior written notice of the alternative investment private placements. He also failed to obtain the firm’s written authorization to participate in accordance with Crown Capital’s written policy. Barndollar also falsely claimed on his yearly compliance questionnaires from 2018 through 2021 that he had not participated in any private security transactions without notifying the firm and receiving authorization. In May of 2020, Crown Capital put Barndollar on heightened supervision, which included a prohibition on selling alternative investments. He sold them anyway, participating in 13 transactions worth $742,048. Barndollar’s Unhappy Customers From 2010 through 2021, eight of his customers initiated new customer disputes leading to multiple FINRA arbitrations against Barndollar. 1. In a claim filed on 4/14/2021, a client alleged that Barndollar exhibited a “lack of suitability and failure to conduct proper due diligence in regards to the purchase of alternative investments.” This claim was settled for $35,000. 2. A claim filed on 8/28/2020 had similar allegations of “lack of suitability, negligence, misrepresentations and omissions of material facts in regards to transactions in nontraditional, alternative and/or non-traded REIT investments.” This claim was settled for $25,000. 3. A claim filed on 8/11/2020 included complaints of “lack [of] suitability, negligence and misrepresentations and omissions of material facts in regards to transactions in alternative and variable annuity investments.” This claim is “pending,” and no financial damages are listed. Barndollar indicates a personal relationship with the now-deceased client, and that the decedent’s children have filed the dispute. 4. A second claim filed on 8/11/2020 had the same allegations as the above but was settled for $82,500. No additional information is available. 5. The next dispute, filed on 7/23/2020, alleges “lack adequate due diligence, negligence and misrepresentations and omissions of material facts in regards to transactions in a non-traded REIT.” This claim was settled for $36,000. 6. A dispute filed on 6/9/2020 included allegations of “lack of due proper due diligence, breach of fiduciary duty and suitability obligations as it relates to the purchase of illiquid alternative investments.” The client requested damages of $125,000, and the claim was settled for $45,000, with Barndollar commenting that the firm settled to avoid litigation. 7. A client filed a dispute on 5/13/2020 alleging that they were sold alternative investments that underperformed, and the claim was settled for $160,000. 8. A client dispute filed on 4/9/2020 included allegations of unsuitability, lack of proper due diligence, and breach of contract regarding two alternative investments that the client purchased in April of 2018. The client requests damages in the amount of $100,100.00. Barndollar refutes the claim, stating that he acted only in a supervisory position. The claim was settled for $37,500 and is now closed. 9. In a prior dispute filed on 7/18/2019, a client alleged negligence in supervision by Crown Capital and failing to do adequate due diligence, negligence in account handling and recommendation of investments and breach of fiduciary duty. The client requested damages of $100,000, and the claim was settled for $30,000. 10. Similar allegations were listed in a third disclosure from 2010 while Barndollar was employed with Newport Coast Securities before it was expelled by FINRA. In it, Barndollar was one of four respondents who were involved in the claim regarding the sale of unregistered securities, which resulted in a FINRA arbitration hearing. The clients requested damages in the amount of $124,800.00, and were awarded $47,500.00. Our attorneys are currently arbitrating claims relating to GPB and other illiquid investments for claims relating to unsuitability, overconcentration, and failure to disclose the risks of these types of investments. Many clients allege that they didn’t understand the risk of these complex illiquid investments and are stuck holding these products. These types of investments can have substantial upfront fees or costs and investors may not be fairly compensated for the risk of holding these types of products. Have You Invested With Hugh Barndollar? Scott Silver and the securities and investment fraud lawyers at Silver Law Group represents investors in The Villages and surrounding areas on a regular basis. We can meet with you at your home, online or by phone to discuss the specific facts of your case. We appreciate the unique circumstances of many investors in the Villages area and understand that many investors are retired and were seeking safe investments that provided for income. Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today and let us know how we can help.](https://www.silverlaw.com/blog/wp-content/uploads/2021/10/FiverrLossesSmall.jpg)
Hugh Barndollar (Hugh Ordway Barndollar III, CRD #3027317, aka “Hobby Barndollar”) is a former registered broker and currently registered investment advisor last employed by Crown Capital Securities, L.P. (CRD#: 6312) of Land O’Lakes, FL. Barndollar was employed with Crown Capital until he voluntarily resigned on December 31, 2021. Continue reading ›
Did you invest in the YieldStreet Vessel Deconstruction I SPV?Silver Law Group, a nationally-recognized class action and investment fraud law firm, is investigating YieldStreet after over 30 investors signed a letter to the fintech firm asking for more information on why their investments have not paid them as they had expected.
YieldStreet is a crowdfunding platform that offers and promotes individuals access to asset-backed alternative investments in areas such as marine finance, art, litigation funding, and real estate, which are typically only available to large institutions. These alternative investments can offer diversification and have low market correlation. Continue reading ›
On Thursday, November 7, 2019, Scott Silver, managing partner of Silver Law Group, and Jay Berkowitz, CEO and founder of marketing agency Ten Golden Rules, delivered a presentation to members of the South Florida Interactive Marketers Association (SFIMA).
Founded in 2004, SFIMA is an all-volunteer organization that promotes education, networking, and professional growth opportunities for marketers in southeast Florida. SFIMA holds monthly educational and networking events with an industry speaker. Continue reading ›
GPB Capital raised over 1.5 billion dollars primarily from mom and pop investors over the last four years. How was GPB they able to raise this money? By paying small and regional brokerage firms over nine (9) percent of the money raised back to the selling broker-dealers.
Last week, GPB announced that many of their funds are down 40% or more in value. In hopes of offering their clients some solace, GPB highlighted that it had already made distributions to investors of about 15% of the investors’ capital. However, many investors were shocked to learn that these distributions were not from earnings or profits but an actual return of the money they had previously invested. In other words, GPB wants to be applauded for returning to investors at least some of their money. Continue reading ›
Silver Law Group is investigating Wellington, Florida based company Winfield Capital Partners, LP and its principals, Richard W. Hartnett and Taryn E. Hartnett.
Winfield Capital Partners is an investment fund managed by Winfield Capital GP LLC. Winfield Capital Partners began soliciting investors in or around 2016 after it filed a Form D with the Securities and Exchange Commission (SEC). According to Winfield Capital Partners’ filed Form D, the fund sought to raise approximately $55 million in investor funds. Continue reading ›
Silver Law Group is investigating brokerage firms that sold GPB Capital Holdings private placements. Notable brokerage firms that sold the GPB Capital Holdings investments include Sagepoint Financial, Inc.; Woodbury Financial Services, Inc.; Royal Alliance Associates Inc.; National Securities Corporation; and FSC Securities Corp.
In September 2018, William Galvin, Massachusetts Secretary of the Commonwealth, announced that his office was investigating 63 brokers that sold GPB Capital Holdings investments after receiving a tip from an independent firm. Due to other troubles concerning GPB Capital Holdings and its private placements, our firm is investigating claims against these brokerage firms.
Securities Arbitration Lawyers Blog