Did you Invest in REITS or Other Illiquid Investments Recommended by Brittney Sias while at Western International Securities?

Soreide Law Group has been contacted by investors who allegedly suffered losses after purchasing AFIN, REITs, and other illiquid investments through broker:

BRITTNEY JADE SIAS (Also known as: ROSALIE P SIAS, BRITTNEY SIAS) CRD#: 4274432  

At the time the alleged losses took place, Sias was with WESTERN INTERNATIONAL SECURITIES, INC. of WESTLAKE VILLAGE, CA.

FINRA barred BRITTNEY JADE SIAS from acting as a broker or otherwise associating with a broker-dealer firm on October 5, 2017. Without admitting or denying FINRA’s findings, Sias consented to the sanction and to the entry of findings that she failed to respond to FINRA requests for documents and information in connection with an investigation of her alleged receipt of funds from a client at her member firm.

According to FINRA’s BrokerCheck, which is available to the public on FINRA’s website, BRITTNEY SIAS had been in the securities industry for 14 years and has 3 Disclosures on her report.  One of the Disclosures is a pending “Customer Dispute” that was filed in March of 2018 alleging, breach of fiduciary duty, unsuitable investment recommendations and strategy, and material misrepresentations and omissions. The damage amount requested is $700,000.00.  Also on her FINRA report is an “Employment Separation After Allegations” from Western International Securities, Inc.  BRITTNEY SIAS was discharged on October 5, 2017 following allegations that Sias failed to respond to FINRA.

In Sias’ 14 years in the securities industry she was listed with 10 firms, the 4 most recent listed below:

04/26/2013 – 10/05/2017  WESTERN INTERNATIONAL SECURITIES, INC. – WESTLAKE VILLAGE, CA

01/12/2012 – 03/08/2013  U.S. BANCORP INVESTMENTS, INC. – CULVER CITY, CA

06/18/2010 – 10/17/2011  U.S. BANCORP INVESTMENTS, INC. – CULVER CITY, CA

06/19/2008 – 06/07/2010  PRIVEST FINANCIAL SERVICES, INC. – LOS ANGELES, CA

Prior to its Nasdaq debut, American Finance Trust (AFIN) was designed as a non-traded REIT. Shares had been sold by brokers to investors at $25.00 apiece. An estimated $1,600,000,000.00 had been accumulated through the company’s offering during its non-REIT phase. American Finance Trust reported in its June 2018 Listing Presentation that its estimated-per-share net asset value (NAV) was $23.56 as of December 31, 2017. The AFIN shares closed on August 1, 2018 at $14.95 – over thirty-six percent less than the estimated NAV. Today, October 4, 2018, it is trading at $14.70.

If you were recommended purchasing AFIN, other REITs, or any other illiquid investments by BRITTNEY SIAS, a former broker with WESTERN INTERNATIONAL SECURITIES, INC. of WESTLAKE VILLAGE, CA, and you experienced losses, contact 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 clients nationally before FINRA.  We operate on a contingency fee basis—no fee to you if no recovery.

2018-10-04T17:05:54+00:00October 4th, 2018|

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