Investigation of Crown Capital Securities, L.P. Broker Lanny Howarter
Posted on Monday, February 22nd, 2021 at 6:34 pm
Erez Law is interested in speaking with investors who may have suffered losses due to investments with Crown Capital Securities, L.P. broker Lanny Howarter (CRD# 813591). Howarter has been registered with Crown Capital Securities, L.P. in San Diego, California since 2009.
Howarter has been the subject of four customer complaints between 2004 and 2020, according to his CRD report. Recent complaints were regarding:
November 2020. “Customer alleges lack of suitability, negligence, omission of material fact (illiquid nature of investments) and breach of fiduciary duty regarding investments in alternative investment products.” The customer is seeking $624,616 in damages and the case is currently pending. The complaint was regarding direct investments, non-traded real estate investment trusts (REITs) and non-traded business development companies (BDCs) and took place while Howarter was registered with Crown Capital Securities, L.P.
November 2017. “Client alleges lack of suitability, fraud, breach of fiduciary duty, negligence and failure to supervise relating to the purchase of various alternative investments.” The customer sought $499,000 in damages and the case was settled for $122,000. The complaint was regarding direct investments and real estate securities and took place while Howarter was registered with Crown Capital Securities, L.P.
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, Crown Capital Securities, L.P. may be liable for investment or other losses suffered by Howarter’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.