Alpine Securities Corporation charged by SEC.
On June, 5, 2017 the SEC charged Alpine Securities Corporation, a Utah based broker dealer with violations of the United States securities laws, specifically section 17(a) of the Securities Exchange Act of 1934.
The SEC’s complaint arises from a series of microcap stock transactions that the SEC alleges were used in a manipulative pump and dump scheme.
The SEC alleges that these microcap transactions were made through Alpine Securities, which was required to file suspicious activity reports when suspecting securities law violations and money laundering. According to the complaint, Alpine Securities flagged these transactions as suspicious, but frequently failed to file the required activity reports. And, on occasions when it did file the reports, the SEC alleges that Alpine omitted to describe the suspicious activity.
The claim filed by the SEC is not final, and until the allegations have been proven in a court of law, no adverse inferences should be drawn.
Alpine Securities Corporation’s registration and disciplinary history
In order to lawfully sell investments to the public, one must either be registered or exempt from registration. Alpine Securities Corporation is registered with the SEC, five self-regulatory organizations and in 41 states and territories.
According to FINRA’s CRD disclosure report, Alpine Securities Corporation has been the subject of one customer complaint and thirty nine reulatory investigations.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.
When investors contact our firm they can expect prompt attention, and a detailed analysis of their issues. Typical claims that we are asked to review involve “unsuitability (where a financial advisor makes investment recommendations that are inconsistent with a customer’s investment objectives), claims for “churning” (where a broker enters into an excessive number of trades for the purpose of generating commissions), claims involving illiquid investments such as private placements (I.e., real estate investment trusts, limited partnerships, equipment leasing and oil and gas drilling programs) as well as claims for violations of state securities laws, which often provide investors remedies like attorney’s fees and interest, if they are successful on the claim.
If you suspect that you have been the victim of investment fraud, or had a financial advisor recommend unsuitable investments to you, call us today for a free, confidential consultation at (702) 380-3131.