Erez Law is currently investigating former Triad Advisors, Inc. broker David Atlee (CRD# 5565960) who is accused of recommending unsuitable GPB Capital Holdings investments. Atlee was registered with Triad Advisors, Inc. in Jacksonville, Florida from 2014 to 2017.
GPB Capital Holdings is a New York-based investment firm that offers exempt, private-placement securities. These investments inherently have a high degree of risk due to their nature as unregistered securities offerings (and without regulatory oversight). It is alleged that brokerage firms that sold GPB Capital Holdings and their brokers who recommended GPB Capital Holdings to their clients may not have conducted appropriate due diligence on the funds.
Atlee has been the subject of one customer complaint, according to his CRD report:
October 2019. “Claimants allege that GPB investments in 2015 were unsuitable. Statement of Claim refers, incorrectly, to a different former Triad Representative, as having sold the GPB investments at Triad. Records indicate it was former Representative Atlee, the son of the Claimants, who sold GPB Holdings and GPB Automotive investments while registered with Triad. The Representative specifically named in the Statement of Claim sold a GPB investment to Claimants at his successive firm and that investment is referenced in a footnote to the Statement of Claim.” The customer is seeking $500,000 in damages and the case is currently pending.
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, Triad Advisors, Inc. may be liable for investment or other losses suffered by Atlee’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.