Christopher Puffer Allegedly Sold Bad REITs, BDCs

Money Concepts Broker Christopher Puffer Allegedly Breaches Fiduciary Duty In Connection With Alternative Investment Sales

Have you invested with Christopher Puffer [CRD#: 2878141, Louisville, Kentucky]? Notably, the securities broker, who joined Money Concepts Capital Corp. on October 27, 2006, discloses on FINRA BrokerCheck that at least three of his clients challenged his sales practices. In fact, a FINRA Arbitration claim has been filed against Puffer and Money Concepts by Soreide Law Group on an investor's behalf. Supposedly, Puffer concealed information about risks and commissions relating to alternative investments he sold while at Money Concepts. Allegedly, Money Concepts negligently supervised him. Here’s more:

Soreide Law Group Files Lawsuit To Recover Money Concepts Client’s Losses Caused By Puffer’s Actions

Notably, on November 13, 2019, Soreide Law Group filed FINRA Arbitration #: 19-03407 on an investor's behalf against Christopher Puffer and Money Concepts. The lawsuit alleges negligence, breach of fiduciary duty, breach of contract, negligent supervision, and FINRA rule violations in connection with Puffer’s REIT and BDC sales. Namely, Puffer allegedly overconcentrated the client’s account in Northstar Healthcare Income Fund and HMS Income Fund after concealing risks and commissions. Allegedly, the securities broker speciously claimed that Northstar and HMS were solid asset-backed investments that would provide consistent income for the client’s retirement. However, since purchasing these investments, they have underperformed. HMS even stopped paying income.  Moreover, Puffer's actions were negligently supervised by Money Concepts according to the lawsuit. As a result, the client alleged no less than $75,000 in damages from Money Concepts or Puffer in this ongoing matter.

Christopher Puffer Allegedly Failed To Disclose Information About Annuities

Apparently, on April 3, 2018, a second Money Concepts client brought a formal dispute in reference to Christopher Puffer. Supposedly, the client contended that Puffer “erroneously” presented the annuity to the client. It appears that Puffer failed to disclose important information about this variable annuity and its riders. It is possible that the client purchased the annuity or riders due to the broker's misrepresentations or omissions. For this reason, the client requested $15,788 in compensation from Money Concepts or Puffer. Money Concepts denies the client’s allegations.

Christopher Puffer Allegedly Recommended Bad LP Units To Client

Evidently, a third client of Money Concepts filed a complaint about Christopher Puffer on April 26, 2017. Allegedly, Puffer unreasonably recommended that the client purchase limited partnership units. It appears that the limited partnership who issued the units filed for bankruptcy following the client’s purchase. This resulted in a complete loss on the investment. Because of this, the client demanded that Puffer or Money Concepts pay $111,467 in compensation to resolve this matter. Evidently, this dispute closed without further action by the client.

Losses From Christopher Puffer?

Have you experienced losses by investing with Christopher Puffer? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel in regard to possibly recovering your investment losses. Soreide Law Group represents clients on a contingency fee basis and will advance all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities firms and brokers like Puffer.