Erez Law is currently investigating Columbia Capital Securities, Inc. broker Josiah Jennings (CRD# 6031164), who is accused of selling away.
Josiah Jennings was registered with Columbia Capital Securities, Inc. in Los Angeles, California, from 2021 to 2024, when he was terminated regarding, “participating in selling securities [away from the firm] without notice to or approval.”
According to his BrokerCheck profile, he has been listed as a registered representative with Columbia Capital Securities, Inc. in Los Angeles, California, since 2021, as a shareholder and independent contractor with Fortalice Group, Inc. in Irvine, California, since 2021, and as a manager and investment adviser representative with Vela Consulting LLC in Irvine, California, since 2019. He was also registered with LPL Financial LLC in Irvine, California, from 2015 to 2019.
In August 2026, FINRA sanctioned Josiah Jennings and William Pugh (CRD# 4855771) for alleged improper sales of $8 million in promissory notes that were issued by a private equity fund, in which Josiah Jennings was a co-founder, held an ownership interest, and was chief executive. FINRA alleges that Josiah Jennings and William Pugh raised funds through the sales of promissory notes in a private equity fund. Josiah Jennings accepted a 10-month suspension and agreed to pay a $10,000 fine.
FINRA noted that Columbia Capital Securities, Inc. approved Josiah Jennings’ role with the private equity fund as long as he notified the firm if he participated in private securities transactions related to the fund.
FINRA alleges that between April and August 2024, Josiah Jennings and William Pugh raised approximately $8 million from 18 investors who were customers of Columbia Capital Securities, Inc.
FINRA found that neither broker received commissions from the transactions. Additionally, FINRA found that the brokers violated securities rules prohibiting private securities transactions without firm authorization.
Public records indicate that the unnamed private equity fund may be Oak Quarry Management, which was listed on the brokers’ registration records as an outside business activity.
How to Recoup Losses from Investments with Josiah Jennings
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, Columbia Capital Securities, Inc. may be liable for investment or other losses suffered by Josiah Jennings’ 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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