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One of the Most Experienced

Investment Fraud, Securities Defense, and FINRA Arbitration Attorneys Nationwide

Attorney Pearce has over decades of first-hand experience with investment disputes in Florida, nationwide, and internationally. We are one of the most experienced FINRA Securities Arbitration Law Firms nationwide and have recovered more than $170 Million on behalf of our clients.

With over 40 Years of Personal Experience

$21,000,000 Final Judgment for Civil Theft
$8,500,000 Stockbroker Bond Fraud Settlement
$8,200,000 Stockbroker Margin Account Liquidation Settlement
$7,800,000 Stockbroker Option Fraud Settlement
$6,000,000 Stockbroker Bond & Bond Fund Fraud Settlement
$5,800,000 Arbitration Award for Stockbroker Fraud
$5,500,000 FINRA Arbitration Settlement
$5,000,000 FINRA Arbitration Settlement
$4,300,000 Federal Court Class Action Settlement
$3,500,000 Florida State Court Settlement
$3,350,000 FINRA Arbitration Settlement
$3,200,000 FINRA Arbitration Award
$2,750,000 FINRA Arbitration Award

The Law Offices of Robert Wayne Pearce P.A., represents clients on all sides of securities, commodities and investment fraud and other issues in a broad range of practice areas in courtroom litigation, arbitration, SEC defense, and mediation proceedings. Based out of offices in Boca Raton, Florida, stockbroker fraud attorney Robert Wayne Pearce and his team have handled hundreds of FINRA, AAA and JAMs securities arbitration and mediation cases for satisfied clients located not only in Florida but nationwide and throughout the world.

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OVER $170 MILLION RECOVERED FOR CLIENTS Contact Our Lawyers for Nationwide Help

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The Law Offices of Robert Wayne Pearce has represented investors across the globe and throughout the United States. Our attorneys have recovered over $170 million for his investor clients in all types of stockbroker fraud and stockbroker misconduct cases.

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At The Law Offices of Robert Wayne Pearce, P.A., we believe the ultimate barometer of our success is surpassing the expectation of our clients.

The following clients have direct knowledge of our firm's processes from the inside and experienced our fierce advocacy.

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  • "Bob Pearce is the real-life Marvel Hero who fights for small investors against brokerage institutions who manage investors’ hard-earned money carelessly, and even worse, conduct fraud outright."

    Bob Pearce is the real-life Marvel Hero who fights for small investors against brokerage institutions who manage investors’ hard-earned money carelessly, and even worse, conduct fraud outright. For years, we were misled by a brokerage firm who told us they would correct the wrong or compensate us for their mistakes. Only after we started working with Bob, we realized how powerful and wonderful it is to have a top legal expert by your side. Bob is immensely detail oriented, knowledgeable, professional, and confident. We are more than happy with the outcome Bob achieved for us within just a few months. Thank you, Bob!

    - Q Wang -
  • “Robert Pearce is part of that unusual breed of lawyers that are able to create empathy with clients and thoroughly adopt their cause”

    No half efforts here. He and his group of professionals are outstanding strategists that can execute with precise fervor and unyielding determination. Theirs is a huge wave of facts, research, precedents and preparation, that has impressed me in its thoroughness and creativity, and most importantly with the results. No stone goes unturned and no effort is ever spared. In my book, he and they are those of a very rare kind that one wants to keep for a very long time.

    - Ramon Flores-Esteves -
  • “Just like the song from HAMILTON, it's so nice to have Bob Pearce on your side.”

    Just like the song from HAMILTON, it's so nice to have Bob Pearce on your side. He is the consumate plaintiff's lawyer: smart. dedicated, fully able to try a case but a great negotiator in a mediation. He did a wonderful job for us, fully supporting us through the process and more than holding his own against a large national law firm.

    - Maurice Z. -
  • "Mr. Pearce and his staff exceeded all of our expectations."

    Mr. Pearce and his staff exceeded all of our expectations. We were able to reach a settlement that was of our complete satisfaction, all within a very smooth, professional and efficient process. Mr. Pearce is now not only our lawyer but our family friend. We highly recommend him and his team!

    - Severiano L. -
  • "For the best fighting chance, Robert Pearce is the lawyer you want in your corner."

    This law firm is the real deal. We were so lucky that they took our case as they have so much experience in securities and all the wrongdoing that happens in these investment companies where they mislead you and your money (as in our case) into schemes that are not what you think they are. Mr. Robert Pearce is one of the best lawyers around, a truly professional who will fight for you and will tell you as it is all the time. We could not have gone thru this experience if it was not for all the advice, guidance and support he and all of his staff and associates brought to the game. For the best fighting chance, Robert Pearce is the lawyer you want in your corner.

    - Astrid M. -
  • "He never felt intimidated and his study of the case and perseverance prevailed at all times."

    Attorney Robert Pearce was our lawyer in a case against a Brokerage Firm and I'm witness to his ability and intelligence to deal with lawyers from the most prominent law firm in New York which was the key to recovering much of our losses cheered by their negligence. He never felt intimidated and his study of the case and perseverance prevailed at all times.

    - Jose A. C. -
  • "In the end, Bob and I had the last laugh when the arbitrators awarded me almost 6 million dollars."

    No lawyer except Bob said I had a chance of winning. When UBS Lawyers laughingly offered me zero to settle the dispute, Bob became even more determined to prove everybody wrong. Bob was extremely prepared, and always a step ahead of the opposing attorneys throughout the arbitration. In the end, Bob and I had the last laugh when the arbitrators awarded me almost 6 million dollars.

    - J. Blanco -
  • "Every meeting and phone call was made with dedication and desire to help our family every step of the way."

    Robert's team is excellent. They are very competitive in what they do and they are very responsible. Every meeting and phone call was made with dedication and desire to help our family every step of the way. Their professionalism, responsibility and empathy assured us that we were in good hands. Recommend to everyone.

    - Mayra A. -

Cases & Investigations

Ex-Centaurus Financial Broker Joseph Michael Todd Sued

The Law Offices of Robert Wayne Pearce, P.A. is currently representing a Client of Joseph Michael Todd who has filed an arbitration claim against his employer, Centaurus Financial, Inc. Joseph Michael Todd Formerly With Centaurus Financial, Inc. and Investors Capital Corp. Has Three (3) Customer Complaints For Alleged Broker Misconduct. IMPORTANT: We are providing information about our clients’ allegations and seeking information from other investors who did business with Joseph Michael Todd and had similar investments, a similar investment strategy, and a similar bad experience to help us win our clients’ case. Please contact us online via our contact form or by giving us a ring at (800) 732-2889. Update: SEC Files Suit Against Joseph Michael Todd The SEC finally filed suit against Joseph Michael Todd (“Todd”) engaging in a fraudulent scheme from at least August 2016 through at least November 2022, where he allegedly misappropriated at least $3 million from at least 20 customers of Centaurus Financial, LLC (“Centaurus”), a dually registered broker-dealer and investment adviser that employed Todd as a registered representative. Todd obtained investor funds through deceptive means by instructing his Centaurus customers to write checks payable to his entities Todd Financial Services, LLC (“TFS”) and/or TFS Insurance Services LLC (“TFS Insurance”) or to Todd himself by falsely assuring customers that he and his entities would invest their funds in various securities. Instead, Todd commingled investors’ funds and kept the money for his own personal use, spending it on lavish real estate, boating, hunting, casinos, and adult entertainment. Todd perpetuated the fraud by making material misrepresentations to customers regarding the use of their funds in meetings that took place in person, in phone conversations, and in documents that he prepared and provided to customers. The SEC accused Todd and his entities because of their conduct, Todd, TFS, and TFS Insurance knowingly or recklessly committed securities fraud. In violation of Section 17(a) of the Securities Act of 1933 (the “Securities Act”) [15 U.S.C. §§ 77e(a), 77e(c), and 77q(a)] and Todd, TFS, and TFS Insurance violated Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5 thereunder [17 C.F.R. § 240.10b-5]. The SEC brought the lawsuit to prevent further harm to investors and to seek disgorgement, civil penalties, permanent injunctions, and conduct-based injunctions stemming from the Defendants’ wrongdoing, and a permanent officer-and-director bar against Todd. Joseph Michael Todd Was Terminated by Centaurus Financial, Inc. On July 21, 2022, Joseph Michael Todd was terminated by Centaurus Financial, Inc. for not cooperating with an ongoing investigation into whether Joseph Michael Todd violated firm policy and industry rules with respect to allegations of selling away and the receipt of customer funds. Our law firm was contacted by a customer of Joseph Michael Todd alleging misappropriation or theft of funds. We are currently investigating such claims and are accepting clients who were victims of Joseph Michael Todd’s alleged misconduct. Joseph Michael Todd was fired from Centaurus Financial in July 2022, according to FINRA’s BrokerCheck. Michael Todd was terminated from Centaurus Financial because of claims he sold investments not authorized by the company, a common practice known as “selling away.” Did Joseph Michael Todd Cause You Investment Losses? Joseph Michael Todd, also known as Michael Todd, Formerly With Centaurus Financial, Inc. and Investors Capital Corp. Has Three (3) Customer Complaints For Alleged Broker Misconduct. If you believe you have suffered investment losses resulting from the conduct of Joseph Michael Todd at Centaurus Financial and Investors Capital Corp. you can contact the securities attorneys at The Law Offices of Robert Wayne Pearce, P.A. for a free consultation to discuss your rights. Joseph Michael Todd Customer Complaints Joseph Michael Todd has been the subject of three (3) customer complaints that we know about, one (1) of those complaints was filed in 2022 to recover investment losses. And One (1) of Joseph Michael Todd’s three (3) customer complaints were settled in favor of investors. However, one (1) of Joseph Michael Todd’s customer complaints was closed, and the customers have not taken any further action. There is currently one (1) pending customer complaint filed against Joseph Michael Todd’s former employer Centaurus Financial, Inc. for investment losses caused by alleged misconduct.  Allegations Against Joseph Michael Todd A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:  We currently represent a Client of Joseph Michael Todd who have filed an arbitration claim against his employer, Centaurus Financial, Inc. A summary of the allegations made in the FINRA arbitration filed for investment losses realized by the Claimant were as follows: 1. Introduction Respondent Centaurus employed Joseph Michael Todd (hereafter referred to as either “Mike” or “Mr. Todd”) and held him out as registered representative, investment adviser, investment manager, financial adviser, and financial planner with special skills and expertise in the management of securities portfolios and financial, estate, retirement, and tax planning matters. Centaurus hired Mr. Todd after he was terminated by two prior broker-dealers for violations of industry rules, firm policies and procedures, including allegations of selling unapproved investments and misappropriation. It also permitted Mr. Todd to operate his Centaurus branch offices under the name “Todd Financial Services” as “a DBA for branding purposes.” The Respondent is being sued in its capacity as broker-dealer and investment adviser, investment portfolio manager, financial planner, and/or as an employer whose employees and agents, including, but not limited to, Mr. Todd, committed the acts and omissions which are the subject of this Statement of Claim.  Claimant is a 62-year-old single woman back working 3 months after she had retired and discovered that her Centaurus’ stockbroker and investment advisor Mr. Todd did the following: 1) Stole $425,000 of her funds that were supposed to have been invested in safe, liquid, fixed income securities for her retirement security and income; 2) Acted in his own “best interest” instead of Claimant’s “best interest” in soliciting her to sell $420,000 of her investment grade municipal bonds and reinvesting the sales proceeds in illiquid and high-risk...

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David Barnes of UBS Financial Services: Investor Complaints

DID DAVID RAY BARNES CAUSE YOU INVESTMENT LOSSES? David Barnes Of UBS Financial Services And Formerly With Credit Suisse Securities (USA) Has A Customer Complaint For Alleged Broker Misconduct Recent News: The Law Offices of Robert Wayne Pearce, P.A. Helps Investor Recover Investment Losses Caused by David Barnes The Claimant is a 73-year-old widow residing in Dallas, Texas. She was married until her husband passed away on March 30, 2016.  The Respondent, UBS Financial Services, Inc. (“UBS”), is a Delaware corporation with its principal headquarters in Weehawken, New Jersey.  The Respondent UBS employed David Barnes (“Barnes”) and held him out and other UBS employees on his team as investment advisers, investment managers, financial advisers, and financial planners with special skills and expertise in the management of securities portfolios and financial, estate, retirement, and tax planning matters. Barnes held several professional certifications which would indicate he knew or should have known his conduct in managing Claimants accounts was below the acceptable standard of care, namely: Chartered Financial Analyst (“CFA”), Certified Financial Planner (“CFP”), and Chartered Alternative Investment Analyst (“CAIA”). The claims in this arbitration included but were not limited to: (1) Barnes’ failure to employ modern portfolio techniques such as asset allocation and diversification to protect Claimants’ assets from unreasonable risk of loss beginning March 2019; (2) Barnes’ and others’ failure safeguard and protect Claimants’ assets from an unreasonable risk of loss in July 2019 and thereafter; (3) Barnes’ and others’ failure to perform their fiduciary and contractual duties to sell securities and reduce the debt promptly and in a manner to serve the best interest; (4) Barnes’ false and misleading Claimants about the performance of securities and accounts; (5) Barnes’ false and misleading statements about his investment strategy and availability of alternative strategies; (6) Barnes false and misleading Claimants about risk of continuing to “hold” an unsuitable, undiversified, and over-leveraged investment strategy in Claimants’ UBS managed accounts; (7) Barnes’ unsuitable “hold” recommendations in connection with the undiversified and over-leveraged securities accounts managed by Barnes on February 13, 2020 and thereafter; and (8) UBS’ and Barnes’ failure to refrain from self-dealing and conflicts of interest relating to the investment advice given regarding Claimants’ variable credit-lines and investment strategy recommendations. Obviously, the arbitrators thought that UBS’s David Barnes engaged in misconduct because after considering the pleadings, the testimony and evidence presented at the hearing, and any post-hearing submissions, the Panel decided in full and final resolution of the issues submitted for determination as follows: Respondent is liable for and shall pay to Claimant the sum of $380,158.00 in compensatory damages. Respondent is liable for and shall pay to Claimant interest on the above-stated sum at the rate of 5% per annum from August 9, 2022, through and including the date this Award is paid in full. Respondent is liable for and shall pay to Claimant the sum of $152,063.20 in attorneys’ fees pursuant to the Texas Civil Practice & Remedies Code. If you had a similar experience with David Barnes then you may want to consider contacting our law firm about the viability of your claims and ability to recover your investment losses.

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Broker C. Raymond Weldon Investigation & Customer Complaints

C. Raymond Weldon Of Independent Financial Group, LLC And Formerly With The Investment Center, Inc. and Cetera Advisor Networks LLC, Has Six Customer Complaints For Alleged Broker Misconduct. C. Raymond Weldon has been the subject of at least six (6) customer complaints that we know about to recover investment losses. The Law Offices of Robert Wayne Pearce, P.A. currently represent five of his customers in a FINRA arbitration claim against Weldon’s employers. IMPORTANT: We are providing information about our clients’ allegations and seeking information from other investors who did business with C. Raymond Weldon and had similar investments, a similar investment strategy, and a similar bad experience to help us win our clients’ case. Please contact us online via our contact form or by giving us a ring at (800) 732-2889. Raymond Weldon Customer Complaints Weldon has been the subject of at least six (6) customer complaints that we know about to recover investment losses. We currently represent five of his customers against Weldon’s employers. A summary of the allegations made in the FINRA arbitration filed for investment losses realized by five of Weldon’s clients were as follows: 1. Introduction Claimants filed an arbitration claim against Respondents Cetera Advisors Networks, LLC (“CAN”), The Investment center, Inc. (“TIC”), and (“IFG”) for their registered representative C. Raymond Weldon (“Weldon”) failure to act in Claimants’ “best interest,” and his unsuitable recommendations, misrepresentations, misleading statements, acts, and omissions. Weldon had written discretionary authority to manage Claimants’ accounts and failed to do so. Respondents CAN and TIC formerly employed and IFG who currently employs Weldon held him out and other employees on his team as stockbrokers, investment advisers, investment managers, financial advisers, and financial planners with special skills and expertise in the management of securities portfolios and financial, estate, retirement, and tax planning matters. Weldon was a Chartered Financial Consultant, a professional with a certification which would indicate Respondents and Weldon knew or should have known his mismanagement Claimants’ accounts was in breach of his fiduciary duties and below the acceptable standard of care of professionals like him.  2. THE RELEVANT FACTS All Claimants, except one Claimant’s wife, worked together. They were introduced to Weldon as an investment manager who successfully managed securities brokerage accounts for a local synagogue and many of its members. With one limited exception, none of the Claimants had any securities brokerage accounts or experience investing in the stock or bond markets before they met Weldon. They were all interested in saving for retirement and he solicited them to establish an investment advisory and brokerage relationship for that purpose. Claimants Richard, Anthony, Alex, Chris, and, later on, Jessica, opened small, unleveraged, and well diversified mutual fund investment accounts, which Weldon managed for a fee on an annualized basis (the “ProFunds Accounts”). The Cetera Advisor Networks, LLC (“CAN”) Accounts In or about October 2020, Weldon boasted about his performance in managing the ProFunds Accounts and introduced them to another type of customized stock brokerage account he managed for synagogue members. He encouraged Claimants to open additional accounts with him to invest in the stock market for their retirement (the “CAN Accounts”). Weldon met with Claimants and showed them documents related to his performance managing other clients’ accounts. He spoke with the other Claimants over the telephone about his performance record. He provided little detail about his management style other than he had a “track record” for substantially growing the assets deposited in his clients’ securities brokerage accounts and preserving assets for their retirement. Weldon claimed that his pro-active management style allowed him to maximize growth in the up markets and minimize losses in down markets. There was no discussion with them about the true nature, mechanics, or risks of the highly leveraged and overly concentrated investment strategy he deployed in the technology sector of the stock market.  The individual Claimants gathered assets from savings, bonuses, and/or refinanced real estate to open and deposit cash in their CAN Accounts. They each deposited substantial amount of money in each of their accounts in December of that year and the following year for Weldon to manage for their retirement. The Claimants’ employer was the last to open an account and deposit funds it had reserved for working capital in January 2021. Weldon prepared and all the Claimants signed management agreements and gave Weldon the authority to manage their accounts on margin without any prior consultation about the investments being made or strategy deployed and paid him a management fee to do so. Claimants did not realize Weldon’s papers also allowed Respondents to get paid commissions on each transaction in their accounts. Weldon also prepared and completed new account opening documents and agreements for managed accounts with false and/or misleading information to suit his strategy and his own “best interest,” as opposed to Claimants. For example, he wrote that one Claimant that was a construction company had over 20 years’ experience investing in stocks, bonds, and mutual funds when he knew it did not even exist until 2013 and never had any securities brokerage accounts. Further, Weldon knew that the company was depositing working capital which needed to be conservatively invested in non-volatile liquid investments and yet he falsely identified the company’s investment objective as “aggressive growth” and risk tolerance as “significant” meaning “an investor who seeks maximum return and accepts the risk of significant volatility and decreases in the value of a portfolio.” According to Weldon, the company had no need for liquidity, which was untrue. These were not clerical errors; rather, they were intentional mischaracterizations by Weldon to slip under the Compliance Department’s radar and manage the accounts in a speculative manner against Claimants’ instructions.  Weldon regularly encouraged Claimants to bring in more money for him to manage. Why? Because it was in his “best interest,” not the Claimants. The greater the total account market value, the greater the management fees which were based upon assets under management. The more money Claimants deposited, the more transactions and more commissions, Respondents and he received, in addition...

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Investment & Securities Lawyers

We are a Nationally Recognized Securities Law Firm

With a Successful Track Record for Recovery of Investment Losses

Attorney Pearce is a well-respected advocate for investors throughout the legal community, known as a fierce litigator and tireless not only in Boca Raton but throughout Florida and across the nation. Read his Investors Rights Blog and discover the breadth of his knowledge that can only be gained from over 40 years of legal experience for yourself. As one of the most experienced FINRA arbitration lawyers, Mr. Pearce knows all of the available options for your case and will pursue them vigorously to secure the best possible outcome for you and your stockbroker fraud and stockbroker misconduct case. He has earned a peer rating of AV Preeminent * through the Martindale-Hubbell peer review rating process, the highest available rating through that program.

Mr. Pearce is one of Thomson Reuters Florida Super Lawyers ** for Securities Litigation (Top 5). Read the feature article about him in the Florida 2014 Super Lawyers magazine entitled: “No Excuses – How Robert Wayne Pearce Stared Down Personal Disaster”.

During his more than 40 years of experience practicing securities and commodities law, he has won numerous million-dollar awards and settlements for his clients which has earned him recognition for his success by The Million Dollar Advocates Forum and The Multi-Million Dollar Advocates Forum as one of the Top Trial Lawyers in America TM***.

By hiring Robert Wayne Pearce, an attorney with over 40 years of experience practicing in the area of securities, commodities and investment fraud on both sides of the table in arbitrations and courtroom litigation, you will clearly see his legal experience and knowledge in action. Having a fierce litigator and tireless advocate of your rights, an attorney who will quickly identify both the strengths and the weaknesses of your case will surely increase the likelihood of winning your case.

Legal Blog

How Do I Recover My Northstar Financial Services (Bermuda), Ltd. Investment Losses?

Unfortunately, as you probably know, those investments issued by NorthstarFinancial Services (Bermuda), Ltd. (“Northstar Financial”) are not going toprovide the returns in the supposed safe and conservative investments asrepresented by many financial advisors. In fact, if you invested in any of theNorthstar Financial investment products, including: Global Advantage; GlobalAdvantage III, V; Global Advantage Select; Global Interest Accumulator; GlobalInvestment Plan; Global Index Protect; Global Variable Annuity; Global VIP;Global VIP Elite; Met Group Variable Deferred Annuity; Met Global AssetPortfolio; and Met Universal Life, you are unlikely to see any return at all. It appears that your only recourse will be to file arbitration claims against thebrokerage firms and/or financial advisors who offered and sold you theNorthstar Financial investment. This is because U.S.-based brokerage firmsare under a duty to conduct “due diligence” and investigate the investmentsthey recommend, not make unsuitable recommendations, not tomisrepresent facts, and make full disclosure of all material facts important toan investment decision. If the brokerage firm with whom you do businessand/or its financial advisor breached any of their duties, then you have theright to recover your Northstar Financial investment losses in a FINRAarbitration proceeding from that brokerage firm and/or its financial advisor. What Happened To My Northstar Financial Services (Bermuda)Investment? For many years, Northstar Financial quietly offered and sold offshore fixed-rate and variable-rate insurance and annuity-like investment contracts withtax benefits unavailable to comparable U.S.-based products. The company’s fall from grace began in 2018 when it was sold to a Bermuda-based holding company controlled by Greg E. Lindberg of Durham, NorthCarolina, the founder and Chairman of Eli Global LLC (Eli Global) and theowner of Global Bankers Insurance Group (GBIG). At one point, Mr. Lindbergcontrolled a billion-dollar empire of companies offering insurance andannuity products throughout the world. However, Mr. Lindberg was indicted in 2019 and convicted along with hisconsultant the next year for conspiracy to commit honest services wire fraudand bribery. During the criminal investigation, it was discovered that he hadsiphoned off funds from the insurance and annuity companies he controlledfor other ventures. According to Bermuda court documents, shortly after Mr. Lindberg took over ownership of Northstar Financial, he “reallocated theassets . . . mainly in special purpose vehicle structures, under the control ofMr. Lindberg, in the US.” Following the indictment of Mr. Lindberg, Northstar Financial investors beganto liquidate their investments and surrender their policies en masse.Unfortunately, the company’s financials were not what was represented, andNorthstar Financial was unable to meet all the requests for liquidation.Bermuda court documents from September 2020 indicated that NorthstarFinancial had only $8 million in assets and a deficit of $265 million in itsobligations to investors. By 2021, the “run on the bank” resulted in a BermudaCourt Order to liquidate the company for distribution of whatever may beremaining (pennies on the dollar) to the creditors. Investment Losses? We Can Help Discuss your legal options with an attorney at The Law Offices of Robert Wayne Pearce, P.A. Get A Free Consultation or, give us a ring at (800) 732-2889. How Do I Recover My Northstar Financial Services (Bermuda)Investment Losses? If you invested in Northstar Financial products through a FINRA-registeredbrokerage firm and financial advisors, you may have an opportunity torecover your investment losses. Financial advisors were offered substantialcommissions and incentives to sell Northstar Financial insurance andannuity-like products to investors. As an investor in one of the Northstar Financial products, you probably heardthey were safe, conservative investments with modest yields and offshoretrust tax benefits. However, these products were outside the purview of U.S.regulators and the protection offered to investors in the states. They were notsubject to strict disclosure, segregation, and capital requirements of similarcompanies operating within the states. Consequently, in many cases, theproducts were misrepresented and sold by brokerage firms and bankswithout full disclosure of all the material facts important to your investmentdecision. We suspect this happened because many brokerage firms did not do theirdue diligence. In other words, they failed to fully investigate NorthstarFinancial and its products even though brokerage firms are required toperform due diligence on every product prior to selling them to the public.This requirement has been explained in detail to FINRA brokerage firms innumerous Regulatory Notices, including Regulatory Notice 10-22, discussingthe requirement in connection with private placements; NASD NTM 03-71,discussing the vetting of “non-conventional investments”; and NASD NTM 05-26, discussing the vetting of “new products”. Because the Northstar Financial investment contracts were not being issuedwithin the U.S., they certainly required a higher level of scrutiny prior to beingsold to clients. Simply put, a certificate of deposit offered by a U.S. bankrequires a far lower level of scrutiny than an esoteric insurance or annuity-likeproduct offered by a Bermuda-based financial company. However, it appearsthat many brokerage firms failed to adhere to the standard required of themwhen selling the Northstar Financial investment contracts, including: Bancwest Investment Services J. P. Morgan Securities, LLC Bankoh Investment Services Ocean Financial Services Bank of Hawaii Raymond James & Associates, Inc. Cetera Investment Services Raymond James Financial Services Community America Financial Solutions SunTrust Investment Services East West Bank Truist Financial Services Hancock Whitney Investment Services United Nations Federal Credit Union J. P. Morgan Chase Bank Unionbanc Investment Services Recover Your Northstar Financial Services (Bermuda)Investment Losses in a FINRA Arbitration The Law Offices of Robert Wayne Pearce, P.A. is prepared to help investorswho have sustained damages or monetary losses not only in NorthstarFinancial investments but other investments in your account in FINRAarbitration. If you were one of those investors who have suffered losses, youshould seek the immediate advice of an experienced securities litigationattorney with more than 40 years of experience representing investors ininvestment fraud and broker-dealer negligence cases. It is imperative thatyou seek our consultation as soon as possible, as there are applicableeligibility rules and/or statutes of limitation that may forever bar your claimagainst the broker-dealer who sold you the Northstar Financial investments ifyou do not file your claim in a timely manner. We Don’t Get Paid Unless You Get Paid! The Law Offices of Robert Wayne Pearce, P.A. will accept most cases on acontingency fee basis. This means if we do not recover any of your...

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How Do I Recover My iCap Investment Losses?

The Law Offices of Robert Wayne Pearce, P.A. is currently investigating claimsagainst stockbrokers related to recommendations to purchase the variousiCap investments and is offering free consultations to those who havesuffered iCap investment losses. If you have suffered iCap investment losses,our experienced securities litigation attorneys are prepared to discuss thematter and provide their legal opinion as to whether you can recoverdamages against the broker-dealer who recommended and sold you one ormore of the iCap investments. Please contact our law firm at 561-338-0037 oronline for a free consultation. At the end of September 2023, it was reported that iCap Enterprises, Inc., areal estate investment holding company and its many affiliates (“collectively“iCap”) through which it raised capital filed for bankruptcy under Chapter 11 ofthe United States Bankruptcy Code in the Eastern District of Washington. It isestimated that iCap has perhaps $50 million in assets and over $500 millionin liabilities. It stopped making the interest payments due the investorsapproximately 6 months prior to filing bankruptcy. The lopsided amount ofdebt relative to the assets indicates that any reorganization or liquidation willleave investors holding unsecured debt with substantial losses. What Happened To My iCap Investment? Most of the capital was raised through private placements of various forms ofdebt, bonds and notes. These were high yield, high risk, illiquid investmentsthat stockbrokers should have been wary of and not recommended toinvestors with conversative or moderate risk tolerances. Based upon what wehear from investors, many stockbrokers misrepresented the risk of theseinvestments and recommended them anyway in violation of their fiduciary. Investment Losses? We Can Help Discuss your legal options with an attorney at The Law Offices of Robert Wayne Pearce, P.A. Get A Free Consultation or, give us a ring at (800) 732-2889. Who Are The iCap Companies that Filed Bankruptcy? The recently filed bankruptcy is a consolidated bankruptcy intended tobenefit iCap and not the investors by wiping out the various companiesunsecured debt. You might hear that the debt is simply being restructured,However, don’t be fooled into thinking that the holders of the unsecuredbonds and notes will get any of their money back in the bankruptcy. If youare an investor in any unsecured bonds and notes in the following companies, you should start exploring alternative avenues other thanthemselves to recover your investment losses: iCap Broadway LLC VH Senior Care LLC iCap Realty LLC iCap Pacific Development LLC Senza Kenmore, LLC UW 17TH AVE, LLC 725 Broadway, LLC iCap @ UW, LLC iCap Campbell Way LLC VH Willows Townhomes, LLC iCap Vault Management, LLC iCap Funding LLC iCap Holding 6 LLC iCap Holding LLC VH Pioneer Village LLC Vault Holding I, LLC iCap Management LLC VH 1121 14th, LLC iCap Enterprises, Inc. iCap Pacific Income 5 Fund, LLC iCap Holding 5 LLC iCap Vault, LLC iCap Equity LLC iCap Pacific Northwest Opportunityand Income Fund iCap Northwest Opportunity Fund, LLC Vault Holding, LLC iCap Pacific Income 4 Fund LLC iCap Investments, LLC iCap Vault 1, LLC VH 2nd Street Office, LLC iCap Pacific NW Management Given the predictable outcome of bankruptcy, it is likely that investors’ onlysource of recovery of their losses will be the stockbrokers and their brokeragefirms who offered and sold the securities investments to them. Don’t Be Discouraged By The iCap Bankruptcy! Chapter 11 bankruptcy protection is not the end of the line for investors.Investors should seek the opinion of a skilled and experienced securitiesattorney about getting just compensation for their investment losses. Broker-dealers and their agents who misrepresented and/or made unsuitablerecommendations about the iCap investments may still be held liable forlosses in investor accounts. In other words, an account holder can still file aFINRA arbitration against the broker-dealer to recover losses in iCap and itsaffiliates bonds, notes, and limited liability membership interests formisrepresentations, unsuitable recommendations, failure to conductadequate due diligence, negligence, etc. You should not let your broker-dealer or broker/financial advisor convince you otherwise. What Are The iCap Private Placement Investments? Private placements is a broad term that describes securities that are notoffered for sale through a public exchange. These can include promissorynotes, private equity offerings, small start-up businesses, etc. PrivatePlacements are issued under Regulation D under the Securities Act of 1933.Regulation D provides exemptions from the more rigorous Securities andExchange Commission (SEC) registration requirements and allowscompanies to offer and sell securities without extensive disclosures. It is theabsence of standard disclosure requirements that often creates theopportunity for fraud. The Securities Exchange Commission, federal courts, and FINRA have allfound that brokerage firms have a duty to conduct a reasonable investigationconcerning the private placements issuer’s representations concerning thesecurity. A brokerage firm’s due diligence obligation also stems fromsuitability obligations requiring the broker to have reasonable grounds tobelieve that a recommendation to purchase, sell, or exchange a security issuitable for the customer. In order to meet the due diligence obligation, thebrokerage firm and/or financial advisor must make reasonable efforts togather and analyze information about the private placement, the issuer andits management, the business prospects of the issuer, the assets held by or tobe acquired by the issuer, the claims being made by the issuer in the offeringmaterials, and the intended use of proceeds of the offering. The failure todetermine this and other material information would necessarily preclude afinancial advisor from disclosing to a customer the material aspects of atransaction. The iCap Investments Were Sold for High Commissions! It appears from our investigation that the iCap issuers of securities partneredwith other brokerage firms to privately sell the bonds, notes, andmembership interests to their retail customers. The commissions on suchsales by the brokerage firms were as high as 10%. Some of the firms that havesold iCap investments to their customers include: Advisory Group Equity Services, Ltd. Gardner Financial Services, Inc. Ausdal Financial Partners, Inc. Green Vista Capital, LLC Bradley Wealth Management, LLC IBN Financial Services, Inc. Cambridge Investment Research, Inc. IBS Financial Services Group Center Street Securities, Inc. Kingsbury Capital, Inc. Chauner Securities, Inc. Pariter Securities, LLC Claraphi Advisory Networks, LLC Somerset Securities, Inc. Cobalt Capital, Inc. Stillpoint Capital, LLC Financial Goal Securities, Inc. Titan Securities Freedom Investors Corp. Wall Street Strategies, Inc...

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GWG Holdings L Bonds: Complaints & Investment Losses

In recent news, it was reported that GWG Holdings, a Dallas, Texas-based asset manager that provides insurance services, as well as acquires life insurance policies in the secondary market, filed for bankruptcy on April 20, 2022. It is estimated that GWG Holdings has more than $2 billion in liabilities, including $1.3 billion of GWG L bonds, and has missed millions of dollars in combined interest and principal payments to investors owning the GWG L bond series. IMPORTANT: As of February 2022, GWG Holdings has failed to pay $13.6 million in payments to GWG L bondholders. These were high yield, high risk, illiquid investments that as stockbrokers should have been wary and not recommended to investors with conversative or moderate risk tolerances. The Law Offices of Robert Wayne Pearce, P.A. is currently investigating claims against stockbrokers related to recommendations to purchase GWG Holdings L bonds (“GWG L bonds”) and is offering free consultations to those who have suffered GWG L bond losses. If you have suffered GWG L bond investment losses, our experienced securities litigation attorneys are prepared to discuss the matter and provide their legal opinion as to whether you can recover damages against the broker-dealer who recommended and sold you GWG L bonds. Please contact our law firm at 561-338-0037 or online for a free consultation. What are GWG L Bonds? In 2012, GWG Holdings created and has since sold nearly $2 billion in GWG L bonds to investors. These high-yield bonds were unrated and illiquid investments and therefore, unsuitable for investors with conservative or moderate risk tolerances. Need Legal Help? Let’s talk. or, give us a ring at 561-338-0037. GWG Holdings issued the GWG L bonds to raise capital to purchase an individual life insurance policyholder seeking liquidity or cash by selling his/her life insurance policy to GWG Holdings for more than the surrender value but substantially less than the policy’s face value. GWG Holdings would then make the premium payments and hope to receive a payout worth greater than what it paid for the policy after the original policy matures or the policyholder passes away. The subject GWG L bonds were created to finance these life insurance policy purchases by GWG Holdings.  The problem for investors was the GWG L bond investments depended on insurance policy premiums and benefits being paid out according to assumptions and statistical models, thus making them speculative investments for investors seeking income and protection of their capital. Further, GWG L bonds had no secondary market, which prevented investors from liquidating should they need the cash immediately. In other words, money used to purchase GWG L bonds was essentially trapped from the moment of purchase. Moreover, the only collateral supposedly backing GWG Holdings are interests in GWG subsidiary companies that purportedly owned real assets, including the insurance policies. Don’t Be Discouraged by GWG Holdings’ Bankruptcy  As early as April 2022, news sources reported that GWG Holdings was filing for Chapter 11 bankruptcy protection. However, this news should not stop investors from seeking the opinion of a skilled and experienced securities attorney and getting just compensation. Broker-dealers and their agents who misrepresented and/or made unsuitable recommendations as to the GWG L bonds may still be held liable for losses in investor accounts. In other words, an account holder can still file a FINRA arbitration against the broker-dealer to recover losses in GWG L bonds for misrepresentations, unsuitable recommendations, failure to conduct adequate due diligence, negligence, etc. You should not let your broker-dealer or broker/financial advisor convince you otherwise. Robert Wayne Pearce, P.A. Recovers Investment Losses The attorneys at Law Offices of Robert Wayne Pearce, P.A. are experienced in litigating high-yield and speculative fixed-income instrument securities loss cases. For over 40 years we have represented investors in arbitration and securities litigation matters, including FINRA arbitration proceedings in nearly every state. Contact us now at 561-338-0037 or contact us online to schedule your free initial consultation.  GWB L Bonds Were Sold for High Commissions! According to GWG Holdings, the GWG L bonds were sold by Emerson Equity, the managing broker-dealer, which partnered with other brokerage firms that also sold the L bonds to their retail customers. The commissions on such sales by the brokerage firms were as high as 8%. The Law Offices of Robert Wayne Pearce, P.A. suspects that many other broker-dealers were involved in the recommendation and sale of the GWG L bonds to their customers. Some of the firms alleged to have sold L bonds to their customers include: If the name of your broker-dealer does not appear on the list above, do not be alarmed. Rather, call us at 561-338–0037 or contact us online for free consultation to discuss whether you may have a claim to recover damages. Recover Your GWG L Bond Investment Losses in a FINRA Arbitration The Law Offices of Robert Wayne Pearce, P.A. is prepared to help investors who have sustained damages or monetary losses not only in GWG L bonds but other investments in your account in FINRA arbitration. If you were one of those investors who have suffered losses, you should seek the immediate advice of an experienced investment fraud attorney with more than 40 years of experience representing investors in investment fraud and broker-dealer negligence cases. It is imperative that you seek our consultation as soon as possible, as there are applicable eligibility rule and/or statutes of limitation that may forever bar your claim against the broker-dealer who sold you the GWG L bonds if you do not file your claim in a timely manner.  We Don’t Get Paid Unless You Get Paid! The Law Offices of Robert Wayne Pearce, P.A. accepts cases on a contingency fee basis. This means if we do not recover money for you, you will not incur any fees owed to our firm. In other words, our attorney’s fees are collected only if we successfully settle your case or obtain a monetary award at the final arbitration hearing. We will also bear the cost of your case through the litigation...

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