ProEquities, Inc. Broker Marc Linsky Accused of Recommending Unsuitable GPB Capital Holdings Investments
Posted on Thursday, May 28th, 2020 at 3:21 pm
Erez Law is currently investigating ProEquities, Inc. broker Marc Linsky (CRD# 1450006) regarding GPB Capital Holdings investment losses. Linsky has been registered with Proequities, Inc. in Marlton, New Jersey since July 2018. Previously, Linsky was registered with Concorde Investment Services, LLC in Marlton, New Jersey from 2015 to 2018.
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 the investments to their clients may not have conducted appropriate due diligence on the funds.
Linsky has been the subject of one customer complaint, according to his CRD report:
January 2020. “The Claim alleges negligence, breach of fiduciary duty, violation of Pennsylvania Securities Act, violations of the Pennsylvania Unfair Trade Practices and Consumer Protection Law, and breach of contract in relation to investment recommendation in GPB Auto made by representative in October of 2016.” The customer is seeking $80,000 in damages and the case is currently pending. The complaint took place while Linsky was registered with Proequities, Inc.
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, ProEquities, Inc. may be liable for investment or other losses suffered by Linsky’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.