Austin Dutton Jr. and Newbridge Securities Investigated in REIT Sales

Soreide Law Group is investigating claims on behalf of investors regarding financial advisor, AUSTIN RICHARD DUTTON JR (CRD #2739167), formerly of Newbridge Securities Corporation (based in Boca Raton, Florida).  Allegedly, Austin Dutton Jr.  recommended unsuitable non-traded real estate investment trusts (REITs) to clients.
The lawyers representing retired Philadelphia police and firefighters plan to file additional complaints with the Financial Industry Regulatory Authority (FINRA) against Newbridge Securities Corp. Newbridge could face dozens of investor complaints from police, fireman and other Philadelphia public employees alleging millions in damages from the sale of illiquid nontraded real estate investment trusts.
In November and December of 2017, four investor complaints were filed against Newbridge, alleging losses of $760,000 for “unsuitable securities” sales. The investors allege they were not made aware of the risks. The Pennsylvania Department of Banking and Securities fined Newbidge $499,000 for allegedly failing to supervise Austin Dutton Jr. of Bridge Valley Financial Services, an affiliate of Newbridge Securities, the firm’s Pennsylvania agent. Dutton is no longer with Newbridge.  Austin Dutton Jr.  was also fined $200,000 for engaging in “dishonest or unethical practices” for these unsuitable recommendations. Dutton was not named as a respondent in the Newbridge FINRA arbitrations.
According to FINRA’s BrokerCheck, Austin Dutton Jr. has 8 Disclosures on his report, 6 of which are ‘Customer Disputes.’  Dutton has been in the securities industry for 21 years and has been listed with 7 firms, and is currently listed with:
SANDLAPPER SECURITIES, LLC
171 South Main Street
Doylestown, PA 18901
Dutton was previously listed with:
07/21/2017 - 09/07/2017  CENTER STREET SECURITIES INC - DOYLESTOWN, PA
08/08/2007 - 08/10/2017  NEWBRIDGGE SECURITIES CORPORATION - DOYLESTOWN, PA
 
If you were/are a client of former NEWBRIDGGE SECURITIES CORPORATION of DOYLESTOWN, PA broker, Austin Dutton Jr., currently listed with SANDLAPPER SECURITIES, LLC, and experienced losses due to his actions or recommendations, particularly in the sale of non-traded real estate investment trusts (REITs), contact Soreide Law Group and speak to a securities lawyer at no-cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group represents clients nationally and operates on a contingency fee basis—no fee if no service.