DID GREGORY ALAN RICKER CAUSE YOU INVESTMENT LOSSES?
Gregory Alan Ricker formerly with Westpark Capital, Inc. Has 7 Customer Complaints for Alleged Broker Misconduct
Who is Gregory A. Ricker formerly with Westpark Capital, Inc.?
Gregory Ricker (CRD #1834893) who was formerly registered with Westpark Capital, Inc. and located in Boca Raton, Florida is a subject of one of our many securities industry sales practice abuse investigations. Prior to Westpark Capital, Inc., Gregory Ricker was associated with 7other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.
Gregory Ricker has also had his regulatory problems. On August 20, 2019, he was suspended by FINRA for failing to respond to its request for information in connection with an investigation.
On June 29, 2020, Gregory Ricker entered into an agreement with FINRA, without admitting or denying the findings, that he participated in a private securities transaction when he referred a potential investor to accompany and receive selling compensation in the amount of $75,000 for the investors to investments in totaled $750,000 in the company without notifying and receiving prior written approval from his employer.
The FINRA findings also stated that Gregory Ricker also made false statements to his firm and annual compliance questionnaires concerning his participation in private securities transactions. He was suspended for 6 months, fined $5,000 and ordered to disgorge the $75,000 commission he received for the investor’s participation in the private securities transactions.
Westpark Capital, Inc. Broker Misconduct
In his career, Gregory Ricker has been the subject of 7 customer complaints that we know about, 3 of those complaints were filed in the last two years to recover investment losses.
Four of Gregory Ricker’s 7 customer complaints were settled in favor of investors. There is currently one pending customer complaint filed against Gregory Ricker’s former employer Westpark Capital, Inc. for investment losses caused by his alleged misconduct.
Allegations Against Gregory Ricker
A sample of the allegations made in the FINRA reported arbitration claim settlements and pending complaints for investment losses are as follows:
- Claimant alleged churning and unsuitable investment recommendations.
- The claimant alleged that Gregory Ricker engaged in the churning of his account and unauthorized trading. Further, the claimant alleged that his financial advisor made unsuitable speculative option transactions in his account.
- The claimant alleged that Gregory Ricker excessively traded his account in various securities.
- The claimant alleged that Gregory Ricker made unauthorized mutual fund investments.
- Claimant alleged that Gregory Ricker engaged in selling away (unapproved securities transactions) and caused $860,000 in losses.
Gregory Ricker Red Flags & Your Rights As An Investor
Of course, Gregory Ricker did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags that should put all current and former customers of Gregory Rickerat Westpark Capital, Inc. on alert to review carefully the activity and performance of their accounts and question whether Gregory Ricker has engaged in any stockbroker misconduct that may have caused them investment losses.
The large number of customer complaints at Westpark Capital, Inc. also raises questions about supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
File A Claim To Recover Your Investment Losses At Westpark Capital, Inc.
If you have questions about Westpark Capital, Inc. and/or Gregory Rickerand the management or performance of your accounts please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.