William Jordan Investments Barred by California DBO; Bankruptcy Filing!
On August 16, 2017 the State of California’s Department of Business Oversight announced a consent order and issued a bar which prevents William Jordan Investments from acting as an investment advisor or a broker dealer in California. The Order also bars William Jordan from acting as a registered representative or investment advisor in the state. The denial relates back to a January, 2017 filing by the Commissioner that described the DBO’s investigation into William Jordan Investments and William Jordan’s history of selling unregistered (unqualified) securities.
The Department of Business oversight found that William Jordan Investments sold unregistered securities and made material misstatements and omissions when making the sales. They also found that Jordan failed to disclose his prior FINRA disciplinary history, and that the investments he sold to clients were losing money.
In addition, in May, 2017 William Jordan Investments filed a voluntary Chapter 11 bankruptcy in Los Angeles, and then sought to include the many underlying LLCs that served as investment vehicles for the firm and its clients. Investors should be mindful that if William Jordan Investments and the underlying LLCs successfully obtain a discharge from bankruptcy, the investors will likely be unable to pursue any claims against William Jordan Investments and any of the related entities that also obtain discharges.
11 USC 523 (a)(19) provides an exemption from discharge for violations of state or federal securities laws. Investors who believe they purchased unregistered or unqualified securities from William Jordan Investments, or were sold investments based on misrepresentations or omissions should contact a securities attorney to determine whether they have a valid claim that should be pursued.
William Jordan’s FINRA brokercheck report lists a separate regulatory action from 2012, as well as a discharge from a prior broker dealer.
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. Recoveries for clients top $40 million. The types of claims we have successfully handled include those involving unsuitable investments (suitability claims), excessive trading or “churning”, misrepresentations and omissions, unauthorized trading, over-concentration of illiquid or overly risky investments, pump and dump scams involving “penny stocks”, direct participation programs (private placements) involving real estate investment trusts (REITS), oil and gas exploration programs, leasing equipment deals and receivable financing, promissory notes whether sold through a broker dealer or as part of the outside business activities of a registered representative, ponzi scheme losses, failure on the part of the broker dealer to perform due diligence, state securities law (blue sky) violations and failure to supervise.
If you have suffered investment losses please call The Law Office of David Liebrader at (702) 380-3131 for a free, confidential consultation