Soreide Law Group is reviewing potential investor claims on behalf of individuals who incurred losses from securities broker Alfred Sietze Vanderlaan (also known as Al Vanderlaan) [CRD: 1172406, Watertown, South Dakota]. Vanderlaan has a history of employment with firms like Westpark Capital Inc. from May 20, 2019, to June 2, 2022, and Sandlapper Securities LLC from August 26, 2011, to April 24, 2019. For more details on the allegations in these investor disputes, continue reading.
Westpark Capital Inc. Investor Accused Vanderlaan Of Breach Of Contract
Notably, a client of Westpark Capital Inc. filed a complaint about Alfred Vanderlaan. Specifically, on September 26, 2023, the client initiated FINRA Arbitration No. 23-02613, alleging that Vanderlaan engaged in breach of contract, breach of fiduciary duty, violation of securities laws, and misrepresentation. This dispute centers around Vanderlaan's recommendations involving GWG L Bonds. The client claims to have suffered damages and is seeking compensation in the range of $100,000 to $500,000, plus interest and costs. Currently, this arbitration remains unresolved.
Investor Alleged Misrepresentation In Dispute About Alfred Vanderlaan
Another case involving Alfred Vanderlaan has surfaced, with a client of Westpark Capital Inc. bringing forward allegations of misrepresentation and omissions of material fact, negligence, breach of fiduciary duty, and unsuitability. This matter, filed on July 28, 2023, under FINRA Arbitration No. 23-02087, revolves around recommendations related to GWG L Bonds. The client alleges damages amounting to $40,000 and the arbitration is currently pending.
Westpark Capital Inc. Investor Accused Vanderlaan Of Negligence
In a separate incident reported on June 30, 2023, a client of Westpark Capital Inc. accused Alfred Vanderlaan of negligent misrepresentation, breach of fiduciary duty, negligence, breach of contract, and violation of Regulation Best Interest, according to FINRA Arbitration No. 23-01873. This matter relates to the renewal of GWG L Bonds in 2020. The alleged damages are reported to be $105,000, and this matter is also pending resolution through arbitration.
Allegations Of Breach Of Fiduciary Duty Against Alfred Vanderlaan
Also, a client of Westpark Capital Inc. lodged FINRA Arbitration No. 23-00613 about Alfred Vanderlaan, alleging breach of fiduciary duty, breach of contract, negligence, and violation of state and federal securities laws. Moreover, the claim alleged failure to supervise. The matter, filed on March 14, 2023, cited damages of $315,000, related to investments in alternative investments including GWG. The case remains pending.
Investor Alleges Breach Of Contract By Alfred Vanderlaan
In another instance, a client of Westpark Capital Inc. contested Vanderlaan's sales practices. The claim, filed as FINRA Arbitration No. 23-01745 on May 16, 2023, alleges breach of fiduciary duty, breach of contract, negligence, and failure to supervise GWG L Bond sales. The claimed damages are $50,000, and the complaint is currently unresolved.
Have You Experienced Damages Due To Vanderlaan?
If you have encountered financial losses due to Alfred Vanderlaan, consider contacting Soreide Law Group for assistance. Reach out online or call at (888) 760-6552 to discuss with a securities attorney about potentially recovering your investment losses. Soreide Law Group, with a history of recovering losses for investors nationwide, works on a contingency fee basis and advances all necessary costs. Despite these allegations, Vanderlaan and his former brokerage firms have denied accusations related to sales practice violations.
