Securities Fraud Lawyer Blog
Robert Kerrigan, a former registered representative with First Financial Equity Corporation was permanently barred by FINRA for refusing to cooperate with FINRA in their investigation into Kerrigan’s sales of unregistered securities. Among the unregistered securities sold by Robert Kerrigan were shares in USA Barcelona and The Materials Acquisition Company or TMAC.
On August 26, 2015 the Arizona Corporations Commission issued a temporary restraining order based on allegations that Robert Kerrigan, USA Barcelona Realty Advisors, LLC, and USA Barcelona Hotel Land Company I, LLC had mislead investors by conducting an unregistered suecurities offering.
The Commission alleged that in 2012 through 2013, Barcelona Advisors improperly sold promissory notes. Robert Kerrigan was named as a Defendant in the complaint filed by the Commission
In addition, The Law Office of David Liebrader presently represents another Robert Kerrigan client who purchased shares in The Materials Acquisition Company or TMAC through Kerrigan. TMAC claimed to have a proven method of extracting gold, silver, and other precious and commercially valuable metals and minerals from “ancient slag.” TMAC has defaulted on their payment obligations, and the client is left with worthless securities.
Robert Kerrigan’s registration and disciplinary history
According to FINRA’s CRD disclosure report, Kerrigan has been the subject of four customer complaints and two regulatory investigations. In May, 2016 he was permanently barred from the securities industry by FINRA.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery and our securities attorneys have successfully resolved over 1000 investment loss cases over the past 20 years.
Investment losses can be recovered through a process known as FINRA arbitration. FINRA regulates broker dealers that sell investments, and provides an arbitration forum to resolve investor disputes. Investors can pursue claims against their brokerage firms in the FINRA arbitration forum. Common claims in the forum are those for suitability, breach of fiduciary duty, misrepresentations and omissions, negligence, violation of FINRA rules, state and federal securities laws violations, elder abuse, breach of contract and failure to supervise. On average, the recovery process takes approximately a year, from start to finish.
FINRA’s rules require that all investment recommendations made by licensed financial advisors be suitable in light of a customer’s needs, objectives and risk tolerance. In addition, all registered representatives are required to be properly supervised, with periodic inspections and reviews by qualified supervisors, whose job it is to vigorously investigate suspicions of wrongdoing (red flags).
If you have suffered investment losses please call The Law Office of David Liebrader at (702) 380-3131 for a free, confidential consultation