Uhlmann Price Securities, LLC Broker John Hoidas GPB Capital Holdings Investment Losses
Posted on Wednesday, January 29th, 2020 at 3:17 pm
Were you the victim of Uhlmann Price Securities, LLC broker John Hoidas (CRD# 1937971) who recommended GPB Capital Holdings investments? Hoidas has been registered with Uhlmann Price Securities, LLC in Chicago, Illinois since 2013.
GPB Capital Holdings is a New York-based investment firm that offers exempt, private-placement securities that inherently have a high degree of risk due to their nature as unregistered securities offerings (and without regulatory oversight). The investment firm raised $1.8 billion from investors through private placements that invested in automotive dealerships, the waste management industry, and middle-market lending. These investments were high risk and high commission (nearly 8%) private placements.
Hoidas has been the subject of four customer complaints in 2019, according to his CRD report:
November 2019. “12/01/2016 thru present date Firm received a letter from client’s attorney stating they will be making a claim with FINRA regarding GPB Holdings II investment which client wants to rescind.” The case was settled for $26,470.59. The complaint was regarding private placements.
October 2019. “9/2013 thru 07/2019 Client alleges Hoidas misrepresented the investments.” The case was settled for $158,823.59. The complaint was regarding private placements.
September 2019. “05/2017 thru 07/2019 Client alleges Hoidas chose investments that were not suitable for her.” The case is currently pending. The complaint was regarding private placements.
July 2019. “03/2017 thru 03/2019 Client alleges investments Hoidas chose were not suitable for her.” The case was settled for $238,235.29. The complaint was regarding variable annuities, promissory notes, and private placements.
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, Uhlmann Price Securities, LLC may be liable for investment or other losses suffered by Hoidas’ 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.