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Articles Posted in Private Placement

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Broker Troy Goldberg (CRD#: 2342989) is a registered broker and investment advisor currently employed with National Securities Corporation (CRD#: 7569) of Boca Raton, FL. Previous employers include Brookshire Securities Corporation (CRD#:44347) and Newbridge Securities Corporation (CRD#:104065), both of Fort Lauderdale, FL and Preferred Securities Group, Inc. (CRD#:35704), also of Boca Raton. Two of Goldberg’s previous employers were expelled by FINRA in 1999: Monroe Parker Securities, Inc. (CRD#:31204) of Purchase, NY and Biltmore Securities, Inc (CRD#:25023) of Fort Lauderdale. Registered in 30 states, he has been in the industry since 1993. National Securities Corporation and Troy Goldberg Between 11/6/2019 and 1/29/2020, six customer disputes were filed alleging Goldberg made “unsuitable recommendations” in regards to private placements. It is not indicated whether these cases are the same client or more than one. The total requested damages for these pending claims comes to $640,000. However it is noted that the customer was an accredited investor, and Goldberg isn’t a “named respondent” in the FINRA arbitration.Broker Troy Goldberg (CRD#: 2342989) is a registered broker and investment advisor currently employed with National Securities Corporation (CRD#: 7569) of Boca Raton, FL. Previous employers include Brookshire Securities Corporation (CRD#:44347) and Newbridge Securities Corporation (CRD#:104065), both of Fort Lauderdale, FL and Preferred Securities Group, Inc. (CRD#:35704), also of Boca Raton. Continue reading ›

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Forrest Jones) Forrest Andrew Jones CRD:# 4880765) is a former registered broker and investment advisor whose last known employer was Merrill, Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Conroe, TX. His previous employers include Fortune Financial Services, Inc. (CRD#:42150) of Montgomery, TX, McNally Financial Services Corporation (CRD#:121196) of The Woodlands, TX, and MetLife Securities Inc. (CRD#:14251) of Houston, TX. He has been in the industry since 2005. On 5/21/20, a customer filed a dispute alleging unsuitable investment recommendations and misrepresentations on the part of Jones. The client requested damages of $335,0000. This claim is currently “pending,” and no additional information is available.  The US Securities and Exchange Commission (SEC) began an investigation into Jones’ practices a month later, on 6/24/2020. The agency began investigating these allegations involving omission and misrepresentations in the offerings of private placements, including promissory notes. On 10/13/2020, Jones’ employer, Merrill Lynch, discharged him, citing “Loss of management confidence resulting from a regulatory investigation and conduct including failure to disclose an outside business activity.” No additional information is available. Jones has two previous disclosures. One is a civil lien for $550, dated 12/21/15. The second is listed as a “compromise,” with a direct payment procedure and no dollar amount.Forrest Jones (Forrest Andrew Jones CRD:# 4880765) is a former registered broker and investment advisor whose last known employer was Merrill, Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Conroe, TX. His previous employers include Fortune Financial Services, Inc. (CRD#:42150) of Montgomery, TX, McNally Financial Services Corporation (CRD#:121196) of The Woodlands, TX, and MetLife Securities Inc. (CRD#:14251) of Houston, TX. He has been in the industry since 2005. Continue reading ›

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Ronald Birnbaum (Ronald David Birnbaum CRD# 238250) is a broker and investment advisor currently registered with Advisory Group Equity Services Ltd. and Trust Advisory Group Ltd. In Newton, Massachusetts. Ronald Birnbaum sold his clients private placements in GPB Capital, which Massachusetts securities regulators accuse of violating securities laws by misleading investors. Silver Law Group represents investors in claims to recover GPB investment losses. Contact us today at (800) 975-4345 for a no-cost consultation. GPB Capital Investments Holdings GPB Capital Holdings, an alternative asset management company founded in 2013 by Scientologist David Gentile, raised $1.8 billion by using broker-dealers across the country to sell private placement investments to investors. GPB is in the business of buying and managing companies such as car dealerships and garbage companies. A private placement in GPB couldn’t be sold, but investors liked the high dividends it paid.Ronald Birnbaum (Ronald David Birnbaum CRD# 238250) is a broker and investment advisor currently registered with Advisory Group Equity Services Ltd. and Trust Advisory Group Ltd. In Newton, Massachusetts. Ronald Birnbaum sold his clients private placements in GPB Capital, which Massachusetts securities regulators accuse of violating securities laws by misleading investors. Continue reading ›

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Silver Law Group recently filed a FINRA arbitration claim against Madison Avenue Securities, LLC and registered representatives Angela Sloan, Robert Luley, Jr., and Katherine Spearman (a/k/a Katherine McConnell).  The investor’s claims arise out of recommendations to invest in GPB Automotive Portfolio, LP, a private placement managed by GPB Capital Holdings, LLC. Among other things, the investor alleges that Madison Avenue Securities and its registered representatives failed to conduct adequate due diligence on the GPB investment and that the recommendation to invest in GPB was unsuitable, negligent, and constituted a breach of fiduciary duty.Silver Law Group recently filed a FINRA arbitration claim against Madison Avenue Securities, LLC and registered representatives Angela Sloan, Robert Luley, Jr., and Katherine Spearman (a/k/a Katherine McConnell).  The investor’s claims arise out of recommendations to invest in GPB Automotive Portfolio, LP, a private placement managed by GPB Capital Holdings, LLC. Among other things, the investor alleges that Madison Avenue Securities and its registered representatives failed to conduct adequate due diligence on the GPB investment and that the recommendation to invest in GPB was unsuitable, negligent, and constituted a breach of fiduciary duty. Continue reading ›

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A compliance executive at broker-dealer Purshe Kaplan Sterling Investments (CRD# 35747) says she has been the subject of intimidation, including having her car tampered with and being followed, for speaking up about concerns she had regarding GPB Capital Holdings. Silver Law Group represents investors in claims to recover GPB losses. If you invested in GPB Capital, contact Scott Silver for a no-cost consultation at ssilver@silverlaw.com or at (800) 975-4345. Toni Caiazzo Neff says that when Purshe Kaplan Sterling asked her to research GPB’s private placement investments in 2016, she told her employer to not become involved with the company.A compliance executive at broker-dealer Purshe Kaplan Sterling Investments (CRD# 35747) says she has been the subject of intimidation, including having her car tampered with and being followed, for speaking up about concerns she had regarding GPB Capital Holdings.

Silver Law Group represents investors in claims to recover GPB losses. If you invested in GPB Capital, contact Scott Silver for a no-cost consultation at ssilver@silverlaw.com or at (800) 975-4345.

Toni Caiazzo Neff says that when Purshe Kaplan Sterling asked her to research GPB’s private placement investments in 2016, she told her employer to not become involved with the company. Continue reading ›

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Silver Law Group, a nationally-recognized stockbroker misconduct law firm, is investigating AllianceBernstein Securitized Asset LP (ABSA or Fund) on behalf of shareholders in the Fund, due to ABSA’s recent news to its shareholders. ABSA is a pooled investment hedge fund, sold by Alliance Bernstein, whose “. . . portfolio is concentrated in mortgage-related securities, it also invests in asset-backed securities, consumer whole loans, and collateralized loan obligations, providing exposure to underlying collateral across residential and commercial mortgages, consumer and auto loans, as well as corporate loans.”Silver Law Group, a nationally-recognized stockbroker misconduct law firm, is investigating AllianceBernstein Securitized Asset LP (ABSA or Fund) on behalf of shareholders in the Fund, due to ABSA’s recent news to its shareholders.

ABSA is a pooled investment hedge fund, sold by Alliance Bernstein, whose “. . . portfolio is concentrated in mortgage-related securities, it also invests in asset-backed securities, consumer whole loans, and collateralized loan obligations, providing exposure to underlying collateral across residential and commercial mortgages, consumer and auto loans, as well as corporate loans.” Continue reading ›

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Silver Law Group, a nationally-recognized class action law firm, is investigating AllianceBernstein Energy Opportunity Fund, L.P. and AllianceBernstein Energy Opportunity Fund, L.P II (collectively “AB Energy Funds”) on behalf of shareholders in the company.Silver Law Group, a nationally-recognized class action law firm, is investigating AllianceBernstein Energy Opportunity Fund, L.P. and AllianceBernstein Energy Opportunity Fund, L.P II (collectively “AB Energy Funds”) on behalf of shareholders in the company.

The AB Energy Funds are pooled investment private equity funds, focused in the oil and gas industry, sold by AllianceBernstein. According to Alliance Bernstein, the AB Energy Funds’ “. . . investment objective and strategies are to generate attractive risk-adjusted returns, through current income and capital gains, by capitalizing on private and public debt and equity investment opportunities in North American oil and gas producers.” Continue reading ›

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Christopher Tolmacs (CRD#: 4648724), a barred broker formerly with Triad Advisors, Inc. (CRD#: 25803) in Portage, MI, is the subject of 18 disclosures on his publicly available FINRA BrokerCheck report. Christopher Tolmacs has been in the industry since 2003. Before joining Triad Advisors in 2008, he previously worked for ING Financial Partners, Inc. (CRD#: 2882) and Vanguard Capital (CRD#: 22081).Christopher Tolmacs (CRD#: 4648724), a barred broker formerly with Triad Advisors, Inc. (CRD#: 25803) in Portage, MI, is the subject of 18 disclosures on his publicly available FINRA BrokerCheck report.

Christopher Tolmacs has been in the industry since 2003. Before joining Triad Advisors in 2008, he previously worked for ING Financial Partners, Inc. (CRD#: 2882) and Vanguard Capital (CRD#: 22081). Continue reading ›

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Silver Law Group has filed a FINRA arbitration claim against Kalos Capital, Inc. (CRD# 44337) regarding broker Eric Weschke (CRD# 3486324) and losses our client suffered by investing in GPB Capital Holdings.   Eric Weschke has been in the industry since 1994, and works out of Setauket, New York. Before joining Kalos in 2011, Weschke was registered with Harrison Douglas, Inc. (CRD# 16515), Alternative Wealth Strategies (CRD#130933), Equity Services, Inc. (CRD# 265), Self Trading Securities, Inc. (CRD# 38439), and Tasin & Company, Inc. (CRD# 30709).Silver Law Group has filed a FINRA arbitration claim against Kalos Capital, Inc. (CRD# 44337) regarding broker Eric Weschke (CRD# 3486324) and losses our client suffered by investing in GPB Capital Holdings.

Eric Weschke has been in the industry since 1994, and works out of Setauket, New York. Before joining Kalos in 2011, Weschke was registered with Harrison Douglas, Inc. (CRD# 16515), Alternative Wealth Strategies (CRD#130933), Equity Services, Inc. (CRD# 265), Self Trading Securities, Inc. (CRD# 38439), and Tasin & Company, Inc. (CRD# 30709). Continue reading ›

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Over the past few years, GPB Capital missed key Securities and Exchange Commission (“SEC”) filing deadlines, announced that some of its financial statements can no longer be relied upon, was raided by the FBI and New York City Business Integrity Commission, had one of its insiders criminally indicted, and is the subject of several civil lawsuits arising from its business practices, including a class action. The only thing missing are formal SEC charges against GPB.Over the past few years, GPB Capital missed key Securities and Exchange Commission (“SEC”) filing deadlines, announced that some of its financial statements can no longer be relied upon, was raided by the FBI and New York City Business Integrity Commission, had one of its insiders criminally indicted, and is the subject of several civil lawsuits arising from its business practices, including a class action. The only thing missing are formal SEC charges against GPB.

Based on the foregoing, it should not be long before the SEC takes action, especially given the gravity of the allegations already looming against GPB in other lawsuits. Continue reading ›

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