Soreide Law Group is investigating potential investor claims of sales practice violations possibly committed by securities broker Craig Lee Carson (also known as Chance Carson) [CRD: 41892, Colorado Springs, Colorado], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Craig Carson worked for Intervest International Equities Corporation from December 2, 2003, to December 31, 2022. Here’s more about the securities broker’s disclosures.
Particularly, on March 1, 2023, an Intervest International Equities Corporation client filed FINRA Arbitration No. 22-01398 about Craig Carson. Supposedly, Carson breached fiduciary duties, violated federal and state securities laws, failed to supervise, was negligent, made misrepresentations and omissions, breached a contract, recommended unsuitable investments, and failed to act in the client's best interest. Because of this, the client allegedly sustained damages on GWG L-Bonds and preferred stocks. Therefore, the client requested $701,211.32 in compensation from Intervest International Equities Corporation or Craig Carson. Evidently, this arbitration is pending a resolution.
Also, an Intervest International Equities Corporation client filed FINRA Arbitration: Case No. 22-01370 about Craig Carson. Supposedly, Carson was negligent, breached his fiduciary duty, failed to supervise, and breached a contract. Because of this, the client allegedly sustained damages on GWG L-Bonds. As a result, on December 14, 2023, Intervest International Equities Corporation settled this matter by paying the client $200,000 in damages.
Additionally, a client of Intervest International Equities Corporation contested Craig Carson’s sales practices by filing FINRA Arbitration: Case No. 22-01658. Allegedly, Carson violated federal and state securities laws, breached a contract, breached his fiduciary duty, was negligent, and failed to supervise GWG L-Bond sales. Therefore, Intervest International Equities Corporation opted to settle the matter on November 9, 2023, by compensating the client in the amount of $20,000.
Particularly, on June 28, 2022, an Intervest International Equities Corporation client filed FINRA Arbitration No. 22-01370 about Craig Carson. Supposedly, Carson breached a contract, breached his fiduciary duty, failed to supervise, and was negligent. As a result, the client requested $6,100,000 in compensation from Intervest International Equities Corporation or Carson. Evidently, this arbitration is pending a resolution.
Evidently, a client of Intervest International Equities Corporation contested Craig Carson’s sales practices by filing FINRA Arbitration No. 22-01932. Allegedly, Carson violated federal securities laws, breached a contract, breached his fiduciary duty, recommended unsuitable investments, failed to supervise, was negligent, made misrepresentations and omissions, and failed to act in the client’s best interests. So, Intervest International Equities Corporation opted to settle the matter on October 16, 2023, by compensating the client in the amount of $10,000.
In June 2021, SEC fined Craig Carson $50,000 because he allegedly breached a fiduciary duty to his clients. Allegedly, he recommended UIT units with transactional sales charges when the customer accounts were eligible to purchase fee account unit versions of the UITs that had no transactional sales charges. Additionally, from May 19, 2016, through August 28, 2019, Carson recommended and bought certain mutual funds for Intervest advisory client accounts. Those transactions resulted in front-end sales loads, even though the accounts were eligible to purchase Class A shares without sales loads.
Supposedly, clients collectively paid $378,295.36 in avoidable transaction costs, all of which Intervest International Equities Corporation collected as commissions. Seventy percent of this amount went to Carson. As a result, SEC claimed that Intervest and Carson breached their duty to seek best prices for those transactions, and they failed to disclose conflicts of interest.
Consequently, on top of the fine, SEC censured him and ordered him to cease and desist from committing or causing any violations of Section 206(2) of the Advisers Act.
Suffered losses because of any sales practice violation by financial advisor / securities broker Craig Carson? If you have, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Carson and brokerage firms Carson worked for deny accusations of sales practice violations.
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