Lawsuit filed against Jeremiah “Jerry” Roman and PFS Investments, Inc., for investment losses in MJ Capital Funding

The Pompano Beach based law firm, Soreide Law Group, has filed a lawsuit in the Financial Industry Regulatory Authority “FINRA” Arbitration forum Against PFS Investments, Inc., “PFS” and their former Financial Advisor Jerry Roman for Mr. Roman recommending to PFS customers to invest in MJ Capital Funding. PFS stands for Primerica Financial Services.

The Pompano Beach investors hired the securities arbitration law firm Soreide Law Group to recover their $150,000 investments in MJ Capital Funding, which was done allegedly at the recommendation of former PFS financial advisor Jerry Roman. MJ Capital Funding purportedly participated in “merchant cash advances” where in reality the SEC has charged MJ Capital Funding and its founder Johanna M. Garcia with running a classic ponzi scheme. MJ Capital is now in receivership and it is believed that over $25 million dollars was siphoned off by MJ Capital founders to fund their lavish lifestyles. It appears likely that the more than 3,000 MJ Capital investors will receive little if anything from the receivership process.

The FINRA arbitration case no. 22-01459, filed by securities arbitration firm of Soreide Law Group, the lawsuit alleges that PFS broker Roman offered verbal and written assurances that the Claimant had no risk to their capital and their investments were safe, secure and they would be able to get their money out at anytime. Attorney, Lars Soreide, who is representing the Claimant believes that Primerica Financial Services failed to adequately supervise the selling activities of their former PFS broker Jerry Roman, who according to his FINRA broker check report was terminated by PFS on October 27^th, 2021, for “participating in an undisclosed outside business activity”.  Brokerage firms are required to supervise all securities related activities both inside and outside the firm.

The lawsuit filed by Claimant in June of 2022, alleges negligence, breach of fiduciary duty and negligent supervision. No answer has been filed and it is anticipated that both PFS and Mr. Roman will deny all allegations. It is also important to note that Mr. Roman and PFS have also not been named in the SEC action against MJ Capital.

The investigation of PFS and Mr. Roman is ongoing by Soreide Law Group and it is likely that many other customers also invested in MJ Capital through Jeremiah “Jerry” Roman. Soreide Law has recovered tens of millions of dollars for investors over the last 14 years and only get compensated on a contingency fee basis out of the successful settlement or award proceeds should we able to recover your losses. For more information call (888) 760-6552 or visit https://www.SecuritiesLawyer.com . We represent clients nationwide in the USA and are based out of Pompano Beach, Florida. Our local number is 954-760-6552. Call today for a free no risk confidential consultation.