Were you the victim of former Westpark Capital, Inc. broker Gregory Ricker (CRD# 1834893)? Ricker was registered with Westpark Capital, Inc. in Boca Raton, Florida from 2013 to 2019.
In July 2020, FINRA sanctioned Ricker to $75,000 in disgorgement and a $5,000 civil and administrative penalty and fine, and he was suspended for six months after he, “consented to the sanctions and to the entry of findings that he participated in private securities transactions by referring a potential investor to a company and receiving selling compensation in the amount of $75,000 for the investor’s two investments that totaled $750,000 in the company without notifying and receiving prior written approval from his member firm. The findings stated that Ricker made false statements to the firm on annual compliance questionnaires concerning his participation in the private securities transactions.”
In August 2019, FINRA suspended Ricker indefinitely after he failed to respond to FINRA request for information.
Ricker has been the subject of eight customer complaints between 2000 and 2019, one of which was denied, according to his CRD report. Recent complaints are regarding:
July 2019. “Churning & Unsuitable Trading.” The customer sought $200,000 in damages and the case was settled for $22,500. The complaint took place while Ricker was registered with WestPark Capital Inc. and was regarding common and preferred stocks.
March 2019. “Breach of Fiduciary, failure to supervise,” The customer is seeking $860,000 in damages and the case is currently pending. The case was regarding selling away and took place while Ricker was registered with WestPark 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, Westpark Capital, Inc. may be liable for investment or other losses suffered by Ricker’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.