Caldwell International Securities Charged by FINRA with sales practice violations.
In a complaint filed by the FINRA Department of Enforcement on December 16, 2105 Caldwell International Securities of Fisher, TX and its principal owner Greg Caldwell, Lennie Freiman, its president, chief compliance officer Paul Jacobs, along with registered reps Alain Florestan, Alex Etter, Lucas Lichtman, Richard Lim and Richard Lee were charged with sales practice and supervisory violations. The allegations include charges that the reps made unsuitable recommendations to customers, engaged in over aggressive trading for the purpose of generating commissions and failed to disclose risk to customers. FINRA accused the supervisors of failing to monitor and detect wrongdoing, which resulted in over one million dollars of client losses while generating over a million dollars in commissions.
The claim filed by FINRA is not final, and until the allegations have been proven in a court of law, no adverse inferences should be drawn.
Caldwell International Securities registration and disciplinary history
In order to lawfully sell investments to the public, one must either be registered or exempt from registration. Caldwell International Securities is a corproation formed in 2000. It is no longer registered with FINRA.
According to FINRA’s CRD disclosure report, Caldwell International Securities has been the subject of one customer complaints and six 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.