36-Year Industry Veteran Scott Vincent Kaup Receives $1 Million Customer Complaint
Posted on Wednesday, May 10th, 2017 at 8:26 pm
Erez Law is currently investigating former VSR Financial Services, Inc. financial advisor Scott Vincent Kaup (CRD# 1002907) regarding unsuitable recommendations in high risk oil and gas and real estate securities. Kaup has been registered with Summit Brokerage Services, Inc. in Stuart, Nebraska since September 2016. Previously, Kaup was registered with VSR Financial Services, Inc. in Stuart, Nebraska from 1989 to 2016.
Kaup has been the subject of one customer complaint, according to his CRD report:
April 2016. “Unsuitable recommendations, Violation of common law fraud, breach of fiduciary duty, and negligence. The dates the alleged activity are 3/30/2001 to 6/14/2010.” The customer alleges damages of between $1 and $5 million from direct investments and limited partnership interests in oil and gas and real estate securities.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, VSR Financial Services, Inc. may be liable for investment or other losses suffered by Kaup’s customers.
Erez Law represents investors in the United States for claims against former VSR Financial Services, Inc. financial advisor Scott Vincent Kaup, who is alleged to recommend an unsuitable investment strategy concentrated in high risk oil and gas and real estate securities. If you were a client of former VSR Financial Services, Inc. financial advisor Scott Vincent Kaup or another firm, and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.