Soreide Law Group is investigating possible investor claims against Richard Shelley (also known as Richard Scott Shelly) (CRD: 2671545, Palm City, Florida). Evidently, FINRA sanctioned the securities broker, who worked for Packerland Brokerage Services Inc. Allegedly, Shelley engaged in private securities transactions. Here is a brief summary of FINRA’s allegations against Shelley.
Particularly, on March 3, 2021, FINRA issued Case: 2020065315901 sanctioning Richard Shelley for infractions. Specifically, Shelley received a one-month suspension as securities broker and a fine of $5,000. Namely, FINRA alleged that Shelley engaged in private securities transactions.
Particularly, FINRA says that Shelley took part in a private transaction involving an investor’s $29,500 investment in Future Income Payments LLC. It appears that the company bought pensions at discounts from those who held pensions. The company reportedly sold those pensions as pension streams to investors. For Shelley’s involvement in the transaction, he received commissions. FINRA also indicates that Shelley did not inform the securities broker dealer about the transaction and had claimed in a compliance questionnaire that he did not participate in one.
Incurred damages because of Richard Shelley? If so, contact Soreide Law Group at (888) 760-6552 and speak with a securities lawyer about a possible recovery of your investment losses. Soreide Law Group, who has helped recover money for hundreds of investors throughout the United States, represents clients on a contingency fee basis and advances all costs. Shelley and brokerage firms Shelley worked for deny any and all allegations of sales practice violations.
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