Financial Counsel by Eccleston Law

Brenda Eschbach Investor Loss Recovery Options

Investors who suffered losses with California investment advisor Brenda Eschbach may be able to recover their losses through FINRA arbitration.  If you are an investor that suffered losses investing with Brenda Eschbach, please contact Eccleston Law Offices at 312-332-0000 to discuss your recovery options.

The Securities and Exchange Commission (SEC) recently charged Brenda A. Eschbach with defrauding four clients out of an estimated $3 million that she allegedy used to pay for her own personal expenses such as luxury cars and credit card bills.

In its complaint, the SEC alleged that between 2003 and 2009 Brenda Eschbach misappropriated over $3 million in client funds. She started misappropriating those funds while operating a franchise of a large unidentified investment advisor and broker-dealer.  The SEC alleged that Eschbach concealed her misappropriations by issuing false account statements to those clients whom she had defrauded.

Eccleston Law represents individual and institutional investors nationwide to recover their investment losses caused by unsuitable investment recommendations, breach of fiduciary duty, negligence or other misconduct. We have extensive experience representing investors in arbitration and litigation disputes with securities broker-dealers and investment advisory firms, and have recovered tens of millions of dollars for investors.

If you are an investor that has suffered substantial losses investing with Brenda Eschbach, your losses may be recoverable through securities arbitration. Please contact Eccleston Law Offices at 312-332-0000 to discuss your recovery options.

Broker Suspended by FINRA over Misrepresenting Guaranteed Return Rate on Variable Annuity

FINRA recently fined and suspended Lloyd Thomas Mincy, Jr. (who was registered with Centaurus Financial) for allegedly misreprensting the guaranteed return on a variable annuity.  According to FINRA records, on or about October 2004, Mincy solicited a several prospective customers to purchase a variable annuity with a 5% gauranteed death benefit option, which provided the beneficiaries of the investment no less than a 5% rate of return. However, when soliciting the purchase of the variable annuity, Mincy allegedly falsely represented that the annuity had a 5% guaranteed rate of return.  Based on these misrepresntations, the investors purchased the variable annuities.  

Eccleston Law represents individual and institutional investors nationwide to recover their investment losses caused by unsuitable investment recommendations, breach of fiduciary duty, negligence or other misconduct. We have extensive experience representing investors in arbitration and litigation disputes with securities broker-dealers and investment advisory firms, and have recovered tens of millions of dollars for investors.

If you are an investor that has suffered substantial losses investing in a variable annuity, your losses may be recoverable through securities arbitration. Please contact Eccleston Law Offices at 312-332-0000 to discuss your recovery options.

LPL Loses $1.4 Million in FINRA Arbitration involving TICs

LPL Financial recently was ordered to pay $1.4 million to an elderly California couple who alleged that the firm defrauded them when it sold them tenant in common investments. 

The couple was sold private placement investments in Direct Invest, LLC, which allegedly contained material misreprensentations about the financial projections of the real estate market and the actual properties.  These investments were allegedly sold to the couple as investments that offered steady distribution rates. 

Two other firms, Orchard Securities, LLC and Meridian Capital Partners, LLC, were also named in the arbitration action.

Eccleston Law represents individual and institutional investors nationwide to recover their investment losses caused by unsuitable investment recommendations, breach of fiduciary duty, negligence or other misconduct. We have extensive experience representing investors in arbitration and litigation disputes with securities broker-dealers and investment advisory firms, and have recovered tens of millions of dollars for investors.

If you are an investor that has suffered substantial losses investing TICs or other real estate investments with LPL Financial, Orchard Securities, or Meridian Capital Partners, your losses may be recoverable through securities arbitration. Please contact Jim Eccleston at the Eccleston Law Offices at 312-332-0000 to discuss your recovery options.

Deal Terms for Morgan Keegan Reps Moving to Raymond James

Investment News is reporting that Morgan Keegan producers may find the deal terms “disappointing”.  They certainly aren’t as generous as what can be negotiated on the street.

For the largest producers, those with production more than $1 million, Raymond James will pay 70% of the trailing 12.  50% of trailing 12 month production will be paid to those producing between $500,000 and $1 million. The percentages fall from there for those with lower production.

Morgan Keegan reps certainly should retain legal counsel either to weigh the options for and negotiate a deal to move their books elsewhere, or even to negotiate a better deal with Raymond James.  That seems to be an option that is in the cards, according to recruiters cited in the Investment News article.

CIP Leveraged Fund Advisors Investment Loss Recovery Options

Investors who suffered losses in the the CIP Leverage Fund Advsior (also known as "Cornerstone Industrial Properties Leveraged Fund Advisors")may be able to recover their losses through FINRA arbitration. 

Upon information and belief, the CIP Leveraged Fund may have been sold to investors without full disclosure of the risks involved in the investment.  Moreover, brokers or financial advisors recommending that their clients the CIP Leverage Fund Advisor may, in some cases, made an unsuitable recommendation. 

The Cornerstone Industrial Properties Leveraged Fund Advisors is believed to be a California-based real estate investment fund for leveraged real estate investments.  CIP is also believed to have marketed certain illiquid REITs, including the Cornerstone REIT and the Meadowbrook REIT. The performance CIP Leveraged Fund and associated REITs may have caused investors to suffer significant losses.

If you are an investor in the CIP Leveraged Fund or in non-traded REITs like the Cornerstone REIT or Meadowbrook REIT, you may be able to recover your losses through securities arbitration.

Eccleston Law represents individual and institutional investors nationwide to recover their investment losses caused by unsuitable investment recommendations, breach of fiduciary duty, negligence or other misconduct. We have extensive experience representing investors in arbitration and litigation disputes with securities broker-dealers and investment advisory firms, and have recovered tens of millions of dollars for investors.

If you are an investor that has suffered losses investing in CIP Leveraged Fund, please contact Jim Eccleston at the Eccleston Law Offices at 312-332-0000 to discuss you recovery options.