Soreide Law Group is reviewing possible investor claims against Royal Alliance Associates, Inc. securities broker Matthew Crafa (CRD#: 3114277, Boca Raton, Florida). Notably, the Financial Industry Regulatory Authority (FINRA) reports that one of his Royal Alliance clients contested his sales practices. The claim, summarized below, indicates that Crafa allegedly breached a fiduciary duty and negligently recommend a private fund. Here’s more:

Royal Alliance Client Suggests Matthew Crafa Sold Bad Private Fund

A client of Royal Alliance Associates brought FINRA Arbitration #: 19-01153 on April 25, 2019 about Matthew Crafa. Mainly, the client alleged that Crafa, who joined Royal Alliance in July 2007, failed to comply with his fiduciary responsibilities and obligations under contract. Not only that, but the client suggested that Crafa was negligent in recommending or selling interests in a private fund. It appears from public records that Matthew Crafa advised the client to purchase GPB Capital Holdings notes. Because of this, the client demanded $1,000,000 in compensation in this ongoing matter.

FBI, SEC and FINRA Investigate GPB Capital Regarding Veracity Of Disclosures

GPB, which has accumulated $1.8 billion+ largely through the sale of private placements, has struggled financially lately. Specifically, GPB Holdings II declined by approximately 13% in value; GPB Automotive Portfolio dropped 25%; and its smaller funds saw declines in value of up to 73%, the company indicated. Moreover, GPB is under FBI, SEC and FINRA investigations concerning, among other things, the veracity of its disclosures to investors about fund performance and capital distributions. What is more, Michael Cohn (GPB Chief Compliance Officer) has been charged with obstructing an SEC investigation. Matthew Crafa may have advised clients to purchase one or more GPB investments.

Brokers’ Responsibility To Conduct Due Diligence On GPB Capital Funds Before Making Recommendations

Securities brokers such as Matthew Crafa are responsible for ensuring that private placements they recommend are suitable for investors. Not only that, but the securities brokers must conduct due diligence on those speculative investments before making recommendations. It is possible that Matthew Crafa gave bad advice to a number of investors about GPB Capital Holdings notes.

Did You Suffer Losses By Investing in GPB Capital Holdings Because Of Matthew Crafa?

Lars Soreide Highest Ethical Standard Award 2018

Lars Soreide Highest Ethical Standard Award 2018

Have you experienced losses by investing in GPB Capital Holdings because of Matthew Crafa? If so, 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 advances all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.