SEC Obtains Judgment Against Conrad Coggeshall

Soreide Law Group is investigating possible investor claims against Conrad Aaron Coggeshall (CRD: 4383687, Scottsdale, Arizona). Evidently, SEC obtained a judgment against the securities broker, who worked for Packerland Brokerage Services Inc. Here is a brief summary of the allegations against Coggeshall.

Coggeshall

Evidently, on December 19, 2022, a court issued Judgment No. 2:19-cv-05667 sanctioning Conrad Coggeshall for infractions. SEC claimed that from April 2017 to May 2018, Coggeshall tricked older folks into giving him $700,000. He allegedly made them believe they were putting money into a successful New York business called Business Owners Tax Relief, LLC. This business was supposed to be involved in buying and merging other businesses, and promised to give these investors a steady return. But the US SEC says that business didn't even exist.

Instead, Coggeshall allegedly put the money into accounts for an Arizona company that he owned. Supposedly, he used money for personal things, like paying his apartment rent, and also for trading stocks. He purportedly used some of the money to pay his investors, making them believe it was the promised return from the New York firm.

SEC accused Coggeshall of breaking Securities Exchange Act of 1934 and Securities Act of 1933.

What's The Verdict?

The case was finalized in a federal court located in Arizona. Coggeshall was found liable and was required to pay fines and return the money he took from the investors. He was also forbidden from doing such actions in the future. The case started on March 20, 2020, and the judgment was given on December 19, 2022. The total fine that Coggeshall had to pay was $385,536.00.

Packerland Brokerage Services Inc. Investor Accused Conrad Coggeshall Of Omissions

Also, on October 7, 2022, a Packerland Brokerage Services Inc. client filed FINRA Arbitration: 22-01978 about Conrad Coggeshall. Namely, the client alleged that Coggeshall made omissions, made unsuitable recommendations, and was negligent. Because of this, the client allegedly sustained damages on real estate securities. Therefore, the client requested $1,000,000 in compensation from Packerland Brokerage Services Inc. or Coggeshall. Evidently, this arbitration is pending a resolution.

Coggeshall Faced Allegations By Cetera Advisor Networks LLC Client

Particularly, a client of Cetera Advisor Networks LLC contested Conrad Coggeshall’s sales practices by filing FINRA Arbitration: 20-01487. Allegedly, the client purchased fake securities, and the gains were used by Coggeshall for his own benefit. It appears that Coggeshall caused the client to sustain damages on LLCs. Therefore, Cetera Advisor Networks LLC opted to settle the matter on June 17, 2021, by compensating the client in the amount of $224,300.

Packerland Brokerage Services Inc. Investor Accused Conrad Coggeshall Of Unsuitable Advice

Evidently, a Packerland Brokerage Services Inc. client filed FINRA Arbitration: 20-01487 about Conrad Coggeshall. Namely, the client alleged that Coggeshall provided unsuitable advice. Because of this, the client allegedly sustained damages on direct investments (LP interests and DPP interests). Therefore, on May 14, 2021, Packerland Brokerage Services Inc. settled this matter by paying the client $75,000 in damages.

Coggeshall Sanctioned By Arizona Corporation Commission - Securities Division For Unregistered Securities Recommendations

Also, Arizona Corporation Commission - Securities Division issued Default Order No. S-21103A-20-0095 on October 2, 2020 sanctioning Conrad Coggeshall for infractions.

The Alleged Wrongdoings

• He sold or offered to sell investments that weren't properly registered, meaning they weren't officially recognized or didn't have the necessary permissions.
• He himself wasn't registered as a dealer or salesman of these investments, but was acting like he was.
• He's accused of unethical behavior related to selling these investments.
• He did business in Arizona as an Investment Adviser Representative without having the right licenses.
• He's accused of unethical behavior in providing investment advice.

The Outcome

The Commission came to a decision on this matter on October 2, 2020. Coggeshall has to pay a total of $150,000 in fines and penalties. He's also been told to pay back a total of $4,524,873.

FINRA Bars Conrad Coggeshall For Failure To Respond To FINRA

Also, on August 7, 2020, FINRA issued Letter No. 2019064840801 sanctioning Conrad Coggeshall for infractions. Specifically, Coggeshall was barred. Notably, FINRA alleged that Coggeshall failed to respond to FINRA’s request for information.

Employment Information

Coggeshall worked for Packerland Brokerage Services Inc. as a securities broker from June 2015 to January 2018.

Damages Resulting From Packerland Brokerage Services Inc. Securities Broker Conrad Coggeshall?

Have you experienced damages because of broker Conrad Coggeshall? If you have, contact Soreide Law Group at (888) 760-6552 and talk with a securities lawyer regarding a potential recovery of your investment losses. Soreide Law Group, who has effectively recovered money for hundreds of investors in all 50 states, represents clients on a contingency fee basis and advances costs. Coggeshall and brokerage firms Coggeshall worked for deny all allegations of sales practice violations.