Our firm is investigating Emerson Equity LLC broker and investment advisor John Paul Ledesma (CRD# 2379751) of Irvine, California for potential real estate securities–related misconduct, including alleged fraud, negligence, and violations of federal and state securities laws.
Financial Advisor’s Career History
According to FINRA’s BrokerCheck report, John Paul Ledesma has been registered in the securities industry since 1993 and is currently associated with Emerson Equity LLC. He works out of the firm’s branch office located at 9870 Research Drive, #104, Irvine, CA 92618, and has been registered with Emerson Equity LLC since May 6, 2021.
Ledesma’s reported registration and employment history includes:
- Emerson Equity LLC – Registered Representative (San Mateo / Irvine, CA) – 05/2021–Present
- Capulent LLC – Registered Representative (Irvine, CA) – 01/2019–05/2021
- Sutter Capital Partners, LLC – Investment Advisor (Irvine, CA) – 03/2019–05/2021
- Independent Financial Group, LLC – Registered Representative / Investment Adviser (Mission Viejo, CA) – 02/2017–03/2017
- Atlanta-One, Inc. – Registered Representative – 10/1993–11/1994
He has also reported other business activities such as operating John Paul Ledesma Real Estate Brokerage as an independent real estate broker and conducting investment-related business under the trade name “DBA Beacon 1031” in connection with his securities business at Emerson Equity LLC.
John Paul Ledesma Fraud Allegations and Investor Complaints Explained
FINRA discloses three pending customer disputes involving real estate securities sold by John Paul Ledesma while he was associated with Emerson Equity LLC. All three matters are described as customer-initiated, investment-related arbitrations filed with FINRA and remain pending.
Across these cases, investors allege:
- Violations of Federal Securities Laws
- Violations of various state securities laws (including California, New Jersey, Ohio, and Pennsylvania)
- Violations of the Pennsylvania Unfair Trade Practices and Consumer Protection Law
- Breach of Contract
- Common Law Fraud
- Breach of Fiduciary Duty
- Negligence and Gross Negligence
Although BrokerCheck lists “Alleged Damages: $0.00” in each dispute, the claimants in all three cases seek compensatory damages in amounts to be determined by an arbitration panel, along with benefit-of-the-bargain damages, lost opportunity costs, model portfolio damages, prejudgment interest, costs, attorneys’ fees, and punitive damages.
Overview of Pending FINRA Customer Disputes
Below is a summary of the three pending customer disputes reported by FINRA:
- Disclosure 1 – FINRA Arbitration No. 25-02476
- Reporting Source: Broker
- Firm Involved: Emerson Equity LLC
- Product Type: Real Estate security
- Allegations:
- Violation of Federal Securities Laws
- Violations of the California Securities Act
- Violation of the Ohio Securities Act
- Breach of Contract, Common Law Fraud, Breach of Fiduciary Duty
- Negligence and Gross Negligence (associated with activity in March 2023)
- Filing Date: 11/11/2025
- Date Complaint Received: 11/12/2025
- Damages: Alleged damages listed as $0.00, but claimant seeks compensatory and punitive damages “in an amount to be determined by the arbitration panel” plus interest, costs, and attorneys’ fees
- Status/Disposition: Pending customer FINRA arbitration
- Disclosure 2 – FINRA Arbitration No. 25-02215
- Reporting Source: Broker
- Firm Involved: Emerson Equity LLC
- Product Type: Real Estate security
- Allegations:
- Violations of Federal Securities Laws
- Violations of the California Securities Act
- Violations of the New Jersey Uniform Securities Law
- Breach of Contract, Common Law Fraud
- Breach of Fiduciary Duty, Negligence and Gross Negligence (related to activity in March 2022)
- Filing Date: 10/27/2025
- Date Complaint Received: 10/27/2025
- Damages: Alleged damages listed as $0.00, but claimant seeks compensatory damages and punitive damages in amounts to be determined, plus interest, costs, and attorneys’ fees
- Status/Disposition: Pending customer FINRA arbitration
- Disclosure 3 – FINRA Arbitration No. 25-02160
- Reporting Source: Broker
- Firm Involved: Emerson Equity LLC
- Product Type: Real Estate security
- Allegations:
- Violation of Federal Securities Laws
- Violations of the California Securities Act
- Violations of the Pennsylvania Securities Laws
- Violations of the Pennsylvania Unfair Trade Practices and Consumer Protection Law
- Breach of Contract, Common Law Fraud, Breach of Fiduciary Duty
- Negligence and Gross Negligence
- Trades placed between 2022 and 2023
- Filing Date: 10/20/2025
- Date Complaint Received: 10/21/2025
- Damages: Alleged damages listed as $0.00, but claimant seeks compensatory damages, lost opportunity costs, and punitive damages in amounts to be determined, plus interest, costs, and attorneys’ fees
- Status/Disposition: Pending customer FINRA arbitration
Alleged Misconduct Pattern
Taken together, the three pending customer disputes suggest a pattern of:
- Concentration in real estate securities
- Claims that Ledesma and Emerson Equity LLC violated multiple state and federal securities laws
- Allegations of fraud, unsuitable recommendations, and breach of fiduciary duty
- Investors seeking substantial recovery for portfolio losses, lost opportunities, and related damages
All of these matters are unresolved at this time, and no final findings of liability have yet been reported by FINRA.
To obtain a copy of John Paul Ledesma’s FINRA BrokerCheck report, visit this link:
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2010 – Standards of Commercial Honor and Principles of Trade
FINRA Rule 2010 requires brokers to “observe high standards of commercial honor and just and equitable principles of trade” in all business conduct. Allegations that John Paul Ledesma engaged in fraud, breach of fiduciary duty, and gross negligence in connection with real estate securities would, if proven, constitute violations of Rule 2010 because such conduct falls below the ethical and professional standards expected of registered representatives. Misrepresenting or omitting material facts, or placing a broker’s or firm’s interests ahead of the client’s, is inconsistent with the high standards of commercial honor required by this rule.
FINRA Rule 2111 – Suitability
FINRA Rule 2111 requires that a broker have a reasonable basis to believe that a recommended transaction or investment strategy is suitable for the customer, based on that customer’s investment profile (including age, financial situation and needs, investment experience, risk tolerance, and objectives). The pending complaints against Ledesma involve real estate securities, which are often illiquid and higher-risk. If Ledesma recommended these products without properly assessing whether they were suitable for each investor—or if he failed to disclose the true risks, liquidity constraints, and potential for loss—such conduct could violate Rule 2111 by placing customers into investments that did not match their needs and risk profiles. Such conduct may also involve negligence and breaches of fiduciary duties under industry standards.
FINRA Rule 2210 – Communications with the Public
FINRA Rule 2210 governs broker communications with the public and prohibits false, exaggerated, unwarranted, promissory, or misleading statements or claims, as well as omissions of material facts. The customer complaints alleging fraud, misrepresentation, and violations of various state securities and consumer protection laws suggest that material information about the real estate securities may not have been fully or fairly disclosed. If marketing materials, emails, presentations, or oral sales pitches downplayed risk, overstated potential returns, or omitted significant drawbacks, such communications could violate Rule 2210 by misleading investors about the nature and risks of the securities they were purchasing.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis. Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.
