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SOURCE: Zamansky & Associates LLC
Zamansky & Associates LLC announces that it filed a FINRA arbitration on behalf of a 78 year-old widow who was a securities customer against brokerage firm NFP Securities Inc. and financial advisor Lawrence Adamo. The case seeks damages of $1.2 million for allegedly unsuitable investments in illiquid, non-public funds engaged in financing, leasing and oil/gas royalties.
(PRWEB) March 17, 2013
Zamansky & Associates LLC announces that it filed a FINRA arbitration on behalf of a 78 year-old widow who was a securities customer against brokerage firm NFP Securities Inc. and financial advisor Lawrence Adamo. The case is FINRA No. 12-3799. The Statement of Claim which seeks damages of $1.2 million for the investor alleges that NFP Securities recommended unsuitable investments in illiquid, non-public funds engaged in financing, leasing and oil/gas royalties. The Statement of Claim also alleges that one financing fund, True North Finance, in which the investor suffered her largest loss was sued by the SEC for engaging in “Ponzi” scheme. The case is SEC v. True North Finance Corporation, f/k/a CS Financing Corporation, et al., Civil Case No. 10-3995-DWF/JJK, USDC, D. MINN.
“Private investments in financing, leasing and oil/gas royalties are unsuitable for retirees or other conservative or moderate investors,” states Jacob Zamansky. These are not suitable investments for investors needing to generate sale income from their investments, Zamansky says. If any investor is recommended a private investment in a financing, leasing and oil/gas royalties business, or even a company that is unkown to them, they need to be cautious, Zamansky believes. In today’s stock market, financial advisors are under enormous pressure to generate commissions and these investments often pay the advisors large fees, Zamansky states.
What Investors Can Do
If you would like to have your brokerage accounts reviewed or discuss your legal rights, you may, without obligation or cost to you, email jake(at)zamansky(dot)com or call the law firm at (212) 742-1414.
About Zamansky & Associates
Zamansky & Associates LLC is one of the leading law firms specializing in securities fraud and financial services arbitration and class action litigation. We represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover losses.
To learn more about Zamansky, please visit our website, http://www.zamansky.com.
Zamansky & Associates, LLC
50 Broadway - 32nd Floor
New York, NY 10004
Jake Zamansky, 212-742-1414
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