April 30, 2020

SUSAN WELO Allegedly Misrepresents BDCs

reit-investor-alert

Broker Susan Welo Involved In Investor Disputes

Soreide Law Group is looking into potential investor disputes against securities broker Susan Welo [CRD#: 1884407, Mayville, North Dakota]. Apparently, North Dakota Securities Department brought a Cease and Desist action against the securities broker, who worked for Cetera Advisor Networks and Securities America. Not only that, but Welos' clients made complaints about her sales practices. It appears that among other things, Welo allegedly withheld or misrepresented troubling information relating to investments that she sold or recommended. Here is a brief summary of the allegations against Welo:

Client of Securities America Files Dispute Indicating Susan Welo Gave Bad Advice

A Securities America client brought FINRA Arbitration #: 20-01173 on April 9, 2020. First of all, the client indicated that Welo recommended the purchase of a non-traded business development company (known as a "BDC"). Secondly, the client alleged that Welo misrepresented information about BDCs. Thirdly, Welo supposedly acted in breach of contract and in breach of a fiduciary duty. Finally, the client suggested that Welo or Securities America violated North Dakota Securities Act. For this reason, the client seeks compensatory relief in this ongoing matter.

Securities America Investors Indicate That Welo Falsified Real Estate Security Features

Notably, on March 12, 2019, a Securities America client brought an investment dispute concerning Susan Welo. Mainly, the client asserted that Welo falsified important details about real estate security features. As a result, the client made a claim for $5,000.00+ in compensation from Securities America or Welo. However, Securities America denied this complaint on May 13, 2019.

Securities America Client Suggests Susan Welo Misrepresented BDCs

Apparently, a client of Securities America contested Susan Welo’s actions by making a complaint dated September 27, 2017. Allegedly, Welo misrepresented the liquidity of a BDC. Not only that, but the client indicated that Welo possibly guaranteed returns on the BDCs. It seems that the business development companies which Welo recommended had caused the client to sustain losses. Consequently, the client demanded compensation from Securities America or Welo in the amount of $50,000. Evidently, Securities America denied this complaint on October 19, 2017.

North Dakota Issues Cease And Desist Order Against Welo

Evidently, in 2017, North Dakota Securities Department issued a Cease and Desist Order against Susan Welo. Allegedly, Welo offered or sold securities without registering as a securities broker in the State of North Dakota. Supposedly, the securities broker also engaged in investment advisory activities without registering as an investment adviser representative. Moreover, the North Dakota Securities Department alleged that Welo made misrepresentations and material omissions.

Losses From Investing Through Securities Broker Susan Welo?

Lars Soreide AVVO 2020 Top Lawyer

Have you experienced losses by investing with Susan Welo? If you have, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a potential recovery of your investment losses. Soreide Law Group provides representation to clients on a contingency fee basis and advances costs. The law firm has recovered millions of dollars for clients who have experienced losses due to misconduct of securities brokers like Welo and brokerage firms.

Recent Posts

March 28, 2024
Al Lovelace In Investor Disputes Over Annuity Misrepresentation

Soreide Law Group is investigating potential investor claims of sales practice violations possibly committed by securities broker Al Stephen Lovelace [CRD: 2393766, Rutherfordton, North Carolina], given the disclosures on FINRA BrokerCheck. Evidently, Lovelace has worked for Equitable Advisors LLC since December 27, 2016, and worked previously at AXA Advisors LLC from October 2, 2008, to […]

March 28, 2024
KAREN CHUNG of WESTERN INTERNATIONAL

Soreide Law Group is conducting an investigation into WESTERN INTERNATIONAL SECURITIES, INC. of Pasadena, California, financial advisor, KAREN TRAN CHUNG (KAREN CHUNG). According to FINRA’s  BrokerCheck, KAREN CHUNG, has been in the securities industry for 20 years and has been listed with 4 firms.  She is currently listed with, WESTERN INTERNATIONAL SECURITIES, INC., 70 S. […]

March 26, 2024
Stifel Fined $400K by FINRA

According to a recent article in Wealth Management, Stifel will pay over $400,000 to settle FINRA disciplinary charges that the firm allegedly did not properly supervise one of their registered representatives who misappropriated over $100,000 from an elderly client. Stifel agreed to the penalties without admitting or denying FINRA’s findings. In addition to a $400,000 penalty, Stifel […]

Contact us Nationwide USA
2401 E. Atlantic Blvd., Suite 305, Pompano Beach, FL 33062
Helping clients recover money across the USA
search
Copyright © 2022 Soreide Law Group, PLLC  |  All Rights Reserved
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram