The Securities Law Blog: FINRA Claims against Sandlapper Securities

Attorneys representing investors are investigating claims against a small broker dealer in South Carolina  after FINRA filed disciplinary proceedings alleging that it sold private placement investments in saltwater disposal wells and defrauded its investors by charging exorbitant, undisclosed markups totaling more than $8 million on the deals.

FINRA claims in a filing that Sandlapper Securities,its CEO Trevor Gordon and Jack Bixler, the president of the firm’s capital markets group, “defrauded investors” when they sold the private placements “through a middleman ‘development’ company they owned and controlled,” according to the complaint.

Unfortunately, FINRA rarely obtains recover for investors, and too often even fails to obtain admissions of wrongdoing by the firms that it files enforcement proceedings against. Investor who have lost money with Sandlapper Securities will need to retain a securities attorney to prosecute those claims.

Fortunately, many attorneys who represent investors in such cases do so on a contingency basis, where they get paid only if you win.

If you have any questions regarding this proceeding against Sandlapper Securities or any other FINRA enforcement proceeding, contact us at info@seclaw.com.

Source: The Securities Law Blog: FINRA Claims against Sandlapper Securities