Former Investacorp, Inc. broker Alan Douglass (CRD# 1619835) was accused of real estate investment losses due to investment fraud. He has been registered with Securities America, Inc. in Clearwater, Florida since 2020. Previously, he was registered with Investacorp, Inc. in Clearwater, Florida from 1995 to 2020.
Alan Douglass Customer Complaints
He has been the subject of six customer complaints between 1993 and 2022, two of which were denied, according to his CRD report. The most recent complaints were regarding:
September 2021. “Claimant alleges his account was overconcentrated in alternative investments.” The customer is seeking $500,000 in damages and the case is currently pending. The complaint took place while he was registered with Investacorp, Inc. and was regarding real estate securities.
July 2021. “The customer alleges the representative made recommendations that allegedly were not in keeping with his needs and objectives, and that he has allegedly incurred investment losses.” The customer is seeking $100,000 in damages and the case is currently pending. The complaint took place while he was registered with Investacorp, Inc. and Securities America, Inc. and was regarding real estate securities and direct investments.
March 2021. “Claimant alleges unsuitability of alternative investments that caused financial harm from January 1/2014 to 12/31/2014. The allegations include violations of FINRA rules, negligence, misrepresentations and omissions and breach of fiduciary duty.” The customer is seeking $50,000 in damages and the case is currently pending. The complaint took place while he was registered with Investacorp, Inc. and was regarding 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, Investacorp, Inc. may be liable for investment or other losses suffered by Alan Douglass’ 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.