ARQUE CAPITAL & RONALD L MCLEOD Lawsuit

Soreide Law Group has filed a FINRA arbitration on behalf of their clients (Claimants) against:

ARQUE CAPITAL, LTD., and their registered representative, RONALD L MCLEOD (Respondents). 

The Claimants are elderly and living in Florida. They were looking for conservative investments that could generate stable income to sustain them through retirement with minimal risk of loss to their principal. The Claimants were doing business with former ARQUE CAPITAL broker RONALD L MCLEOD and according to the lawsuit in 2017 and were introduced to GWG bonds. The lawsuit alleges that ARQUE CAPITAL broker, RONALD L MCLEOD, from December 2017 to March 2021, over concentrated $400,000 of the Claimant’s investable assets into GWG bonds.  Allegedly, the Respondents described GWG as reasonably safe, secure and asset backed.  The Claimants allege they were not told the company was losing hundreds of millions of dollars in bad investments and GWG was reliant upon new investor funds to stay afloat. On April 20^th, 2022, GWG Holdings filed Chapter 11 bankruptcy which could potentially wipe out a significant portion of the Claimant’s life savings. The lawsuit alleges that it was unsuitable to concentrate over $400,000 of the Claimant’s retirement savings into high-risk unrated bonds along with other illiquid investments.

The lawsuit is alleging that ARQUE CAPITAL, LTD, and their representative RONALD L MCLEOD’s actions have caused damages to the Claimants of approximately $400,000.00. The lawsuit alleges negligence, breach of fiduciary duty, and negligent supervision.  It is anticipated the Respondents will deny any and all wrongdoing.  No answer has been filed.  This is the second lawsuit Soreide Law Group has filed against the Respondents Arque Capital and Ron McLeod over the same failed GWG L bond investments.

According to FINRA’s BrokerCheck, available to the public on FINRA’s website, RONALD L MCLEOD has been in the securities industry for 23 years and has been listed with 12 firms. RONALD L MCLEOD was listed with ARQUE CAPITAL of Bradenton, FL from 03/30/2012 until 10/05/2021. He then was listed with MOLONEY SECURITIES CO., INC. of Manchester, MO from 9/7/2021 to 08/12/2022.

MCLEOD has 6 disclosures listed on his FINRA CRD report.  All six are “Customer Disputes.”  One dispute was settled in 2012 and the remaining five are pending.  The five pending disputes were all filed in 2022 with requested damages listed from $57,000 to $482,687.00.  Some of the allegations were unsuitable investments, misrepresentations and omissions, breach of fiduciary duty, breach of contract, failure to supervise, negligence and violation of federal securities laws.

The lawsuit is alleging that ARQUE CAPITAL, LTD, and their representative RONALD L MCLEOD’s actions have caused damages to the Claimants of approximately $400,000.00. The lawsuit alleges negligence, breach of fiduciary duty, and negligent supervision.  It is anticipated the Respondents will deny any and all wrongdoing.  No answer has been filed.  This is the second lawsuit Soreide Law Group has filed against the Respondents, Arque Capital and Ron McLeod, over the same failed GWG L bond investments.

If you or an elderly loved one have experienced losses though the actions or recommendations of ARQUE CAPITAL, LTD., and/or their former broker, RONALD L MCLEOD, particularly in GWG L Bonds, contact the Florida-based Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.

Soreide Law Group represents our clients nationwide before FINRA on a contingency fee basis, no fee to you if no recovery.