CMCT Losses?

Soreide Law Group has been contacted by investors who were allegedly recommended purchasing Creative Media & Community Trust (NASDAQ: CMCT) by former broker/investment advisor BRYON EDWIN MARTINSEN (BRYON E MARTINSEN).  MARTINSEN was previously registered as a broker with CENTAURAS FINANCIAL INC of Kings Park, New York, from 10/07/1999 - 09/16/2022.

FINRA has barred BRYON E MARTINSEN from acting as a broker or otherwise associating with a broker/dealer firm. The disclosure barring BRYON E MARTINSEN is dated 5/15/2026, The allegations were, “Without admitting or denying the findings, Martinsen consented to the sanction and to the entry of findings that he refused to provide documents and information or to appear for on-the-record testimony requested by FINRA during its review of a Form U5 amendment filed by his former member firm that disclosed that he may have engaged in conduct actionable under an applicable statute, rule, or regulation.”

According to FINRA’s BrokerCheck, available to the public on FINRA’s website, BRYON E MARTINSEN had 35 years of experience in the securities industry and was listed with 3 firms.  Martinsen has 24 disclosures on his FINRA CRD report.  Of the 24 disclosures, one disclosure is a “Judgment / Lien” filed in 2009, one an “Employment Separation After Allegations,” filed in 1999 discharging him from AXA ADVISORS, INC. following the allegations of “MARTINSEN WAS INVOLVED IN OUTSIDE BUSINESS ACTIVITIES WHICH HE HAD PREVIOUSLY BEEN ADVISED TO CEASE AND DESIST,” and there are two “Regulatory” disclosures dated 8/19/2022 and 5/15/2026. 

Also, on BRYON E MARTINSEN’s FINRA CRD report there are 20 “Customer Dispute” disclosures. The significance of BRYON E MARTINSEN’s 20 “Customer Dispute” disclosures is underscored in FINRA NOTICE to MEMBERS 03-49. FINRA conducted a review of the CRD’s of all registered representatives, only .41% had been the subject of 3 or more customer complaints. In other words, BRYON E MARTINSEN’s customer complaints rank him in the top one-hundredth percent of all registered representatives for customer complaints. 

Investors may have purchased CMCT believing it was an appropriate income-producing real estate investment. However, as the commercial real estate market weakened, interest rates increased, and the office sector came under pressure, many investors have experienced significant declines in the value of their investments. Brokerage firms and financial advisors have a legal obligation to recommend investments that are suitable for their clients and to fully disclose the material risks associated with those investments. If those obligations were not met, investors may have claims to recover investment losses.

To discuss this article or any other securities issues, contact Soreide Law Group and speak to an experienced securities lawyer at no cost:  888-760-6552.

Soreide Law Group represents our clients nationwide before FINRA on a contingency fee basis.