Erez Law is currently investigating Triad Advisors LLC broker Lee Duckworth (CRD# 2097591), who is alleged to recommend unsuitable GPB Capital Holdings investments. Duckworth has been registered with Triad Advisors LLC in West Warwick, Rhode Island since 2012 and with Capital Wealth Management, LLC in West Warwick, Rhode Island since 2011.
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.
Duckworth has been the subject of four customer complaints between 2016 and 2020, one of which was closed without action, according to his CRD report:
- July 2020. “Claimant alleges, more than five years after the fact, that the three alternative investments she chose to purchase in 2015 were not suitable.” The case is currently pending. The complaint is regarding direct investments and real estate securities and took place while Duckworth was registered with Triad Advisors.
- June 2020. “Claimants allege an unsuitable investment strategy between 2012-2015.” The case is currently pending. The complaint is regarding direct investments and real estate securities and took place while Duckworth was registered with Triad Advisors.
- March 2020. “After suspension of distributions, customer now alleges that his 2015 investment in GPB Holdings I was unsuitable. Customer invested $150,000 and has received an estimated $47,000 in distributions to date.” The customer is seeking $150,000 in damages and the case is currently pending. The complaint is regarding direct investments and took place while Duckworth was registered with Triad Advisors.
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 LLC may be liable for investment or other losses suffered by Duckworth’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.