INVESTORT ALERT: Customer Complaints Filed Against Presidential Brokerage, Gregory Williams

Gregory Jon Williams (CRD#: 1561089, Greenwood Village, Colorado) is a licensed securities representative of Presidential Brokerage, Inc. Apparently, he has transacted with investors through the Greenwood Village, Colorado offices as early as April 20, 2011. The Financial Industry Regulatory Authority (“FINRA”), who regulates broker-dealers and securities representatives, made known that four customers of Presidential Brokerage Inc. filed investment disputes about Gregory Williams. Specifically, customers together alleged Gregory Williams made unauthorized and unsuitable trades, misrepresented investments, committed fraud, and breached fiduciary duties. Here is a summary of those complaints:

June 27, 2018 Complaint Alleging Unsuitable And Misrepresented Investments

 
A Presidential Brokerage Inc. customer brought an investment dispute about Gregory Williams on June 27, 2018. Specifically, the customer alleged he made unsuitable transactions. Those transactions appear to have included corporate debt, mutual fund, and non-traded BDCs. Not only that, but the customer stated that he misrepresented information about those investments the customer decided to purchase. Supposedly, Gregory Williams’ unsuitable trading and misrepresentations caused the customer to incur $151,337.00 in losses. Accordingly, the customer seeks compensatory damages in this pending matter.

June 15, 2018 Arbitration Alleging Fraud, Breach Of Fiduciary Duty

 
Customers of Presidential Brokerage filed a $1,200,000.00 FINRA Arbitration Action #18-02058 on June 15, 2018. Evidently, Gregory Williams put the customers’ assets from May 2012 to March 2018 in corporate-debt, mutual fund, OTC equities, unit investment trusts and non-traded BDCs. In so doing, according to the customers, Gregory Williams or the firm made unsuitable and unauthorized trades, defrauded customers, made misrepresentations and omissions, and breached a fiduciary duty which the firm owed to those customers. On top of that, the customers alleged Presidential Brokerage failed to supervise Gregory Williams’ investment activities. However, he and the firm deny the customers’ allegations. Therefore, this matter is unresolved.
 

August 19, 2009 Complaint Alleging Misrepresentation

Previously, from June 1, 2009 to May 10, 2011, Gregory Williams worked at Morgan Stanley Smith Barney. A customer of Morgan Stanley brought a complaint about Gregory Williams on August 19, 2009. Allegedly, Gregory Williams made misrepresentations about a variable annuity. That customer supposedly purchased the product because of those misrepresentations. However, Morgan Stanley denied the customer’s allegations on January 6, 2010.

September 22, 2009 Arbitration Alleging Excessive, Unauthorized Trading

A customer of Citigroup Global Markets Inc. – Gregory Williams’s, employer from July 29, 2005 to June 1, 2009 – filed FINRA Arbitration #09-04711 about Gregory Williams’s trading. According to the customer, the broker made excessive trades of stock in the customer’s investment account. Additionally, he supposedly made trades that were not reasonable for the customer’s situation. Also, the customer alleged that Gregory Williams transacted without the customer’s permission. Because of this, the firm agreed to pay the customer $25,000.00. Accordingly, this matter settled March 14, 2011.

If you have incurred losses by investing with Presidential Brokerage representative Gregory Williams, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advance all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.