Securities Broker Gerald Repasz Accused Of Unsuitable Investment Transactions
Soreide Law Group is reviewing possible investor claims concerning securities broker Gerald Lee Repasz (CRD#: 1273452, East Peoria, Illinois). Evidently, the securities broker worked for Ausdal Financial Partners from 2013 to 2020. He previously worked at Berthel Fisher and Company Financial Services, and SII Investments too. It appears that clients of Berthel Fisher and Ausdal Financial Partners complained about him. Here’s more on these investor disputes including what you could do if you have sustained losses.
Ausdal Financial Partners, Berthel Fisher Client Brings Dispute About Gerald Repasz
Evidently, a client took aim at Repasz in an April 2020 FINRA Arbitration Claim. It appears that Repasz had the client invest in unsuitable investments. Supposedly, Repasz sold the client illiquid investments and falsified their net worth to qualify transactions. Also, the client alleged that the broker misrepresented investments. Investments the client purchased included variable annuities, DPPs, LPs and real estate securities. Further, the client alleged that Ausdal Financial Partners and Berthel Fisher failed to supervise Repasz’s actions. Evidently, the client settled this dispute in January 2021.
Repasz’s Client Alleges UDF III, Behringer Harvard REIT Unsuitable
Notably, a second client of the securities firms brought a lawsuit about Gerald Repasz in October 2017. First of all, the client claimed that certain investments including UDF III and UDF IV were unsuitable. Secondly, the client expressed that Behringer Harvard REIT caused losses. For this reason, the client received $26,500 in compensation to put this claim to rest.
Berthel Fisher Client Alleges Misrepresentation By Securities Broker
Clients of Berthel Fisher disputed Gerald Repasz’s actions in a September 2016 FINRA Arbitration Claim. It appears that the client invested in alternative investments. Namely, Repasz supposedly sold real estate securities which were not good for the client’s situation. In addition to allegations of unsuitable investments, the client alleged that the broker misrepresented information about the securities. Also, Berthel Fisher is accused of failing to supervise Repasz. Because of this, Berthel Fisher opted to settle this matter through making a $20,000 payment to the client.
Prior Disputes Allege That Gerald Repasz Sold Unsuitable, Misrepresented Investments
A past dispute about Gerald Repasz alleges that he sold unsuitable and misrepresented investments – similar allegations as in other complaints. Allegedly, Berthel Fisher did not carry out due diligence. Supposedly, investments caused damages for this client. However, the securities firm denied the complaint. Also, two prior unresolved disputes allege misrepresentation.
Did You Suffer Damages From Jerry Repasz?
Did you experience losses because of securities broker Gerald Repasz? If so, call Soreide Law Group at (888) 760-6552 and speak with an accomplished securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have incurred losses because of their financial advisors and securities brokers. Evidently, Repasz denies all allegations of his sales practice violations.