Did Broker Rusty Tweed Cause You To Incur Losses?

Soreide Law Group provides you this recent update in regard to securities broker Robert “Rusty” Tweed (CRD#: 2339324, San Marino, California). Namely, Securities and Exchange Commission (“SEC”) and Financial industry Regulatory Authority (“FINRA”) both barred the securities broker, who worked for Concorde Investment Services from 2011 to 2015 and who worked for Cabot Lodge Securities from 2015 to 2019. Notably, Tweed also established Tweed Investment Services Inc. (“TISI”) who formed Athenian Fund L.P. – which took in nearly two million from investors and then underperformed. Therefore, Tweed’s clients filed investment disputes which indicate that he put them in unsuitable and misrepresented investments which caused losses. Here’s more on Tweed.

SEC Bars Rusty Tweed Over Misleading Athenian Fund Investors

Evidently, SEC issued an Order in July 2020 which barred Tweed as broker, dealer, investment adviser and more. Namely, SEC took issue with Tweed’s actions with Athenian Fund, L.P. which was a pooled investment vehicle that he managed through TISI. Apparently, Tweed did not disclose to investors that Athenian Fund incurred losses. Not only that, but he supposedly did not give investors financial statements for Athenian Fund. SEC also says that Tweed did things to mislead investors. Notably, before barring Tweed, a final judgment from April 2020 enjoined him from violating Investment Advisers Act given these allegations.

FINRA Bars Tweed As Securities Broker For FINRA Firms

Apparently, FINRA barred Tweed in December 2019. The financial industry watchdog reported that Rusty Tweed misrepresented significant information about private placements. FINRA also relayed that Tweed made false statements or had concealed information about the private investment fund. In fact, FINRA suggested that Tweed took steps to deceive investors in the Athenian Fund.
Among other things, FINRA mentioned that Rusty Tweed did not tell investors about who was managing the private fund’s master fund. He supposedly failed to tell investors the truth about the fees and expenses including that he was going to take in a portion of those fees and expenses for himself. Finally, Tweed was not honest about how Athenian would invest. Notably, FINRA also found that Tweed secretly made agreements and transactions with Quantitative Analytics Master Fund, LLC who defrauded Athenian’s investors.
Both SEC and FINRA make clear that Rusty Tweed poses a clear risk of future misconduct to investors. Their decisions to bar him is for protection of the investor public.

Concorde Financial Client Brings Lawsuit About Rusty Tweed

Apparently, a client of Concorde Financial Services brought a dispute about Rusty Tweed in July 2019. Mainly, the client argued that Tweed misrepresented investments. Not only that, but Tweed should not have invested the client’s assets in DPPs or LPs as this was not suitable for the client. For this reason, the client asked for $1,423,796 from Tweed or Concorde in this ongoing matter.

Tweed Supposedly Gives Bad Advice To Clients Regarding REITs, Private Placements

Notably, another investor brought a dispute about Rusty Tweed’s sale of risky investments in May 2019. It seems that this May 2019 FINRA Arbitration Claim centers on Tweed’s bad recommendations. Tweed supposedly failed to consider the client’s risk tolerance, goals or other suitability criteria when making recommendations. For this reason, the client demanded half a million dollars in compensation from Tweed or his securities firm. Evidently, this matter is ongoing.

Prior Investor Disputes From 2018 Paint Bad Picture Of Rusty Tweed

Notably, a client of Cabot Lodge Securities contended that Rusty Tweed invested the client’s assets in bogus schemes. Also, a Concorde Investment Services client’s May 2018 complaint alleges that Tweed sold Vertical US Recovery Fund II, which Tweed apparently misrepresented and which badly performed. Those disputes closed without resolutions.

Losses From Securities Broker Rusty Tweed?

Have you experienced losses by investing with broker Rusty Tweed? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel in regard to possibly recovering your investment losses. Soreide Law Group represents clients on a contingency fee basis and will advance all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of financial advisors and securities brokers like Tweed.