Were you the victim of Peachcap broker Aaron Brodt (CRD# 5017914)? Brodt has been registered with Peachcap in Scottsdale, Arizona since July 2016. Previously, he was registered with Accelerated Capital Group in Scottsdale, Arizona from 2012 to 2016.
Brodt has been the subject of four customer complaints between 2016 and 2017, one of which was closed without action, according to his CRD report:
- January 2020. “Claimants allege failure to perform due diligence and sales practice violations in regard to the purchase of two securities in 2013.” The customer is seeking $430,000 in damages in this pending complaint. The complaint is regarding direct investments and took place while Brodt was registered with Accelerated Capital.
- May 2017. “Claimants allege against the employing firm, by name, and against their adviser, by reference, negligence, gross negligence, misrepresentation/omission, failure to supervise, breach of fiduciary duty, breach of contract and control person liability in connection with the 2014-2015 purchase of four investments for a total of $340,000. One of the investments was sold at a profit, while the other three are unrealized losses in an unspecified amount.” The customer sought $340,000 in damages and the case was settled for $95,000.
- April 2016. “Through letter from their attorney, clients allege Mr. Brodt recommended an unsuitable investment which they purchased in May and October of 2015.” The customer sought $200,000 in damages and the case was settled for $116,667.
- April 2016. “Through a letter from her attorney, client alleges Mr. Brodt recommended an unsuitable investment which she purchased in May 2015.” The customer sought $100,000 in damages and the case was settled for $58,333.
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, Peachcap may be liable for investment or other losses suffered by Brodt’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If 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.