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National Investment Fraud Lawyers

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Did Presidential Brokerage, Inc. Financial Advisor Jason McBride Recommend You Unsuitable REITs?

Posted on Saturday, August 25th, 2018 at 8:14 am    

Colorado

Erez Law is currently investigating Presidential Brokerage, Inc. financial advisor Jason McBride (CRD# 1875972) regarding unsuitable recommendations with regards to real estate investment trusts (REITs) and limited partnerships. McBride has been registered with Presidential Brokerage, Inc. in Greenwood Village, Colorado since 1995.

McBride has been the subject of five customer complaints between 2008 and 2018, one of which was closed without action, according to his CRD report:

May 2018. “The complaint includes standard allegations of unsuitability, breach of fiduciary duty, negligence, failure to supervise, misrepresentation, omission, and breach of contract in the purchase of 2 non traded REITs and a limited partnership between February 2006 and August 2008.” The customer is seeking $251,317 in damages and the case is currently pending.

December 2015. “Breach of fiduciary duty, breach of contract, negligence and unlawful termination and retaliation.” The customer sought $300,000 in damages and the case was settled for $14,900.

July 2014. “Allegations include suitability, misrepresentation, omission of material facts, fraud, negligence, and breach of contract and fiduciary duty related to the purchase of a tic real estate investment between June 2008 and June 2014.” The customer sought $472,000 in damages and the case was settled for $653,795.79.

November 2013. “Allegations include unsuitable recommendation, misrepresentation, omission of material facts, failure to supervise, negligence, breach of contract and breach of fiduciary duty between July 2008 and October 2013.” The customer sought $46,000 in damages and the case was settled for $12,000.

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, Presidential Brokerage, Inc. may be liable for investment or other losses suffered by McBride’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.