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Client Alleges Unsuitability In Alternative Investments From Broker Hugh Barndollar

Hugh Barndollar (Hugh Ordway Barndollar III CRD #3027317, aka “Hobby Bardollar) is a registered broker and investment advisor currently employed by Crown Capital Securities, L.P. (CRD#: 6312) of Land O’Lakes, FL. 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. A recent client dispute filed against Barndollar on 4/9/2020 included allegations of unsuitability, lack of proper due diligence, and breach of contract in regard to 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 is currently listed as “pending.”Hugh Barndollar (Hugh Ordway Barndollar III CRD #3027317, aka “Hobby Bardollar) is a registered broker and investment advisor currently employed by Crown Capital Securities, L.P. (CRD#: 6312) of Land O’Lakes, FL. 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.

A recent client dispute filed against Barndollar on 4/9/2020 included allegations of unsuitability, lack of proper due diligence, and breach of contract in regard to 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 is currently listed as “pending.”

In a second dispute, the client alleges 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 dispute is still listed as “pending,” and the client requests damages of $100,000.

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.

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