Soreide Law Group is currently investigating potential claims on behalf of individuals who may have suffered financial losses due to the actions of securities broker Gilbert Russell Conrad [CRD#: 2746778, Lewiston, New York]. Evidently, Conrad joined Coastal Equities Inc. on March 2, 2022. Also, he associated with Arkadios Capital from February 24, 2020, to March 14, 2022, following associations with Independent Financial Group LLC, Cetera Advisors Networks LLC, and JP Turner Company LLC. Notably, investor allegations against Conrad include unsuitable recommendations, misrepresentation, and other sales practice violations.
Specifically, on October 5, 2023, a client of Independent Financial Group LLC filed FINRA Arbitration: 23-02737 about Gilbert Conrad. Namely, the client alleged that Conrad advised the client to overly concentrate their portfolio in products that were not suitable. Because of this, the client allegedly sustained damages related to non-traded Real Estate Investment Trusts (REITs). Therefore, the client requested compensation ranging from $1,000,000 to $5,000,000 from Independent Financial Group LLC or Conrad. Evidently, this arbitration is pending a resolution.
Also, a client of Cetera Advisors Networks LLC contested Gilbert Conrad’s sales practices by filing FINRA Arbitration: 23-00927 on August 16, 2023. Supposedly, Conrad recommended unsuitable investments. It appears that Conrad caused the client to sustain damages on DPPs or LPs. Therefore, the client seeks compensatory relief from Cetera Advisors Networks LLC or Conrad in the amount of $1,000,000 in this ongoing matter.
Particularly, on July 28, 2020, a JP Turner Company LLC client filed FINRA Arbitration: 20-01585 regarding Gilbert Conrad. Evidently, the client alleged that Conrad recommended unsuitable alternative investment products. Because of this, the client allegedly sustained damages, the exact amount of which was to be determined. Therefore, on January 11, 2022, JP Turner Company LLC settled this matter by paying the client $10,000 in damages.
Additionally, a client of JP Turner Company LLC contested Gilbert Conrad’s sales practices by filing FINRA Arbitration: 13-01426. Notably, the investor alleged misrepresentation, unsuitable investments, negligence, breach of contract, violation of Nebraska securities law, and breach of fiduciary duty related to a tenant in common investment. It appears that Conrad's actions led the client to sustain damages totaling $2,850,352.99. Consequently, JP Turner Company LLC opted to settle the matter on November 21, 2014, by compensating the client in the amount of $235,000.
Did you experience losses because of Gilbert Conrad? If so, reach out to Soreide Law Group 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. Conrad and brokerage firms he worked for deny accusations of sales practice violations.
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