Former J.P. Turner & Company, L.L.C. Broker Gilbert Conrad Investment Loss Options

J.P. Turner & Company

Erez Law is currently investigating Coastal Equities, Inc. broker Gilbert Conrad (CRD# 2746778) regarding investment losses related to unsuitable investment recommendations. He has been registered with Coastal Equities, Inc. in Lewiston, New York, since 2022. 

Previously, he was registered with the following brokerage firms: 

  • Arkadios Capital in Lewiston, New York, from 2020 to 2022
  • Independent Financial Group, LLC in Lewiston, New York, from 2016 to 2020
  • Summit Brokerage Services, Inc. in Lewiston, New York, from 2015 to 2016
  • J.P. Turner & Company, L.L.C. in Lewiston, New York, from 2012 to 2015

It is alleged that he recommended clients invest in a concentrated investment portfolio comprised of illiquid alternative and private placement investments, including 

  • American Realty Capital REIT (Hospitality Investors Trust, Inc.)
  • Apartment Trust of America REIT
  • Bluerock Real Estate
  • Daymark Realty
  • DBSI
  • DT Group
  • Lightstone Value Plus REIT
  • Provident
  • Texas Energy Holdings
  • Wells Real Estate REIT II

Gilbert Conrad Customer Complaints

Gilbert Conrad has been the subject of three customer complaints between 2013 and 2023, according to his CRD report:

August 2023. “Claimants allege unsuitable investments.” The customer is seeking $1,000,000 in damages. The complaint took place while he was registered with Cetera Advisors Networks, LLC, and it was related to direct investment losses. 

July 2020. “Unsuitable product, 2014.” The case is currently pending. The complaint was regarding alternative investments and took place while he was registered with J.P. Turner & Company, L.L.C.

June 2013. “Clients allege misrepresentation, common law fraud, unsuitable investments, negligence, violation of Nebraska securities law, breach of contract and breach of fiduciary duty.” The customer sought $2,850,352.99 in damages, and the case was settled for $235,000. The complaint was regarding real estate securities, and it took place while he was registered with J.P. Turner & Company, L.L.C.

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, Coastal Equities, Inc. may be liable for investment or other losses suffered by Gilbert Conrad’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.

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