The former chief immigration officer of Bermuda and a mailman from Arlington, Texas were recently awarded close to $100,000 each by the Financial Industry Regulatory Authority (FINRA) after allegedly being defrauded by a Ponzi scheme, Praetorian Fund. The arbitration award claimed they had were targeted by RICHARD GOMEZ (CRD# 4727721), while he was employed by Legend Securities in New York.
At the FINRA hearing in Tampa, Florida, it was reported that in 2011, Richard Gomez had recommended they invest in the Praetorian Fund, a fraudulent Ponzi scheme, and United States Coal Corporation, an unregistered security.
At the FINRA hearing, it was reported that Gomez had been employed by numerous firms before joining Legend Securities. It was also reported that Gomez stopped showing up at the office within a short period after he was hired with minimal production. Also, it was alleged that Legend Securities failed to comply with supervisory procedures regarding Gomez.
FINRA found Legend Securities liable for negligence. The claimant from Bermuda was awarded $79,653 out-of-pocket losses and $26,946 in prejudgment interest. The claimant from Texas was awarded $70,722 out-of-pocket losses and $16,886 prejudgment interest. The FINRA panel also awarded $5,000 in sanctions for Legend Securities’ violation of panel discovery orders, $5,658 in costs and $14,062 in hearing session fees to FINRA.
RICHARD GOMEZ (CRD# 4727721), according to the FINRA BrokerCheck, is currently not licensed to act as a broker, was in the securities industry for 9 years, and in the 9 year was registered with 16 firms. The following are some of those firms:
06/2013 - 10/2015 AVENIR FINANCIAL GROUP - NEW YORK, NY
03/2013 - 06/2013 WOODSTOCK FINANCIAL GROUP, INC. - NEW YORK, NY
12/2012 - 03/2013 ROCKWELL GLOBAL CAPITAL LLC - NEW YORK, NY
01/2012 - 12/2012 PHD CAPITAL - NEW YORK, NY
10/2012 - 12/2012 CALDWELL INTERNATIONAL SECURITIES - AUSTIN, TX
06/2011 - 12/2011 LEGEND SECURITIES, INC. - NEW YORK, NY
03/2010 - 06/2011 U.S. FINANCIAL INVESTMENTS, INC. - NEW YORK, NY
05/2009 - 03/2010 VISION - NEW YORK, NY
If you were a victim of Richard Gomez' sale of the Praetorian Fund, or any other broker who recommended you invest in a Ponzi scheme, call Soreide Law Group and speak to a lawyer regarding the possibility of recovering your losses at: 888-760-6552.
Soreide Law Group represents our clients nationwide and operates on a contingency fee.
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