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Did You Lose Money Investing with Concorde Investment Services, LLC Broker Daniel Raupp?

Posted on Wednesday, February 5th, 2020 at 10:35 pm    

Concorde Investment Services

Erez Law is currently investigating Concorde Investment Services, LLC broker Daniel Raupp (CRD# 4079107) regarding unsuitable investment recommendations. Raupp has been registered with Concorde Investment Services, LLC in Port Jefferson, New York since 2015. Prior to that, Raupp was registered with several brokerage firms, including:

  • J.P. Turner & Company, L.L.C. in Port Jefferson, New York (03/04/2010 – 06/19/2015)
  • Gunnallen Financial, Inc. in Port Jefferson, New York (03/25/2003 – 03/23/2010)
  • Harrison Securities, Inc. in Port Washington, New York (11/19/2001 – 03/19/2003)
  • Ehrenkrantz King Nussbaum in New York, New York (10/22/2001 – 11/27/2001)

Raupp was terminated from Ehrenkrantz King Nussbaum regarding, “under investigation for misappropriation of property and improper alteration of original customer documents.”

Raupp has been the subject of three customer complaints between 2011 and 2019, one of which was closed without action, according to his CRD report:

September 2019. “Claim is alleging suitability, negligence and breach of fiduciary duty in relation to investments made with the firm in 2016-2018, as well as illiquid non-traded REIT purchased at prior BD and transferred to the firm.” The customer is seeking $500,000 in damages and the case is currently pending. The complaint is regarding direct investments and real estate securities and took place while Raupp was registered with J.P. Turner and Concorde Investment Services, LLC.

June 2019. “Client is alleging misrepresentation, fraud, and suitability in relation to limited partnership investments made in June and October of 2017.” The customer is seeking $1 million in damages and the case is currently pending. The complaint was regarding direct investments and took place while Raupp was registered with Concorde Investment Services, LLC.

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, Concorde Investment Services, LLC may be liable for investment or other losses suffered by Raupp’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.