Did you lose money in a promissory note investment sold to you by Alternative Wealth Strategies? If so, The White Law Group may be able to help.
FINRA recently announced that Alternative Wealth Strategies was censured and fined $75,000, which includes the disgorgement of $40,000 in commissions, relating to FINRA’s findings that the firm negligently omitted material facts in connection with its sale of promissory notes.
Specifically, FINRA’s findings stated that an entity a real estate developer controlled issued the notes and that Alternative Wealth Strategies negligently failed to disclose to investors that the entity had been experiencing cash flow problems and that the entity and other companies affiliated with the real estate developer had failed to make required interest payments to investors.
FINRA’s findings also stated that the firm negligently failed to disclose that it was unlikely that the entity’s affiliated company would be able to make its scheduled principal payments totaling $10 million that were due to its note-holders.
If you invested in these promissory notes based on representations made by Alternative Wealth Strategies, you may be able to recover your losses through FINRA arbitration. To speak with a securities attorney about your legal options, please call the firm’s Chicago office at 312/238-9650.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.
For more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.com.