Former Kalos Capital, Inc. Broker Andrew Topka GPB Capital Holdings Losses
Posted on Monday, January 3rd, 2022 at 5:13 pm
Erez Law is currently investigating former Kalos Capital, Inc. broker Andrew Topka (CRD# 5070107) who recommended GPB Capital Holdings’ private placements. Andrew Topka was registered with Kalos Capital, Inc. in Mount Pleasant, South Carolina from 2014 to 2018 and with Berthel, Fisher & Company Financial Services, Inc. in Charleston, South Carolina from 2006 to 2014.
Andrew Topka GPB Capital Holdings Losses
Andrew Topka has been the subject of five customer complaints between 2013 and 2020, one of which was closed without action, according to his CRD report. The most recent complaints are regarding:
December 2020. “Breach of fiduciary duty, suitability, overconcentration in alternative investments, failure to supervise.” The customer sought $718,000 in damages and the case was settled for $152,923. The complaint was regarding direct and other investments and took place while Andrew Topka was registered with Kalos Capital, Inc.
May 2020. “Failed to conduct reasonable due diligence and recommended unsuitable securities, specifically, GPB Capital Holdings.” The customer sought $300,000 in damages and the case was settled for $45,128. The complaint was regarding direct investments and took place while Andrew Topka was registered with Kalos Capital, Inc.
April 2020. “Advised my client that GPB was a solid and secure investment that would provide him with steady income. Mr. Topka raved about the future of GPB and its growth potential. We believe strongly that the lack of transparency and SEC investigations are indicative that this investment is all but worthless to current investors. The customer sought $14,500 in damages and the case was settled for $14,500. The complaint was regarding direct investments and took place while Andrew Topka was registered with Kalos Capital, Inc.
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, Kalos Capital, Inc. may be liable for investment or other losses suffered by Andrew Topka’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you 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.