In May, 2016, the Financial Industry Regulatory Authority (“FINRA”) announced that Chris Tolmacs of Scotts, Michigan, formerly with Triad Advisors of Portage, MI was barred from association with any FINRA member as a result of his refusal to cooperate with FINRA’s investigation as to whether he engaged in private securities transactions with his customers. The investigation concerned the issuance of promissory notes to memorialize loan transactions. Chris Tolmacs initially cooperated with FINRA, but then refused to appear for the continuation of his examination, and refused to provide FINRA with information to aid in their investigation.
Chris Tolmac’s registration and disciplinary history
In order to lawfully sell investments to the public, a registered rep must either be registered or exempt from registration. Chris Tolmacs was registered with Triad Advisors from April 2008 through March, 2016.
According to FINRA’s CRD disclosure report, Chris Tolmacs has been the subject of three customer complaints and two regulatory 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.