Concerned about your losses investing with VSR Financial Advisor Dennis Van Patter?
Have you suffered losses investing with Dennis Van Patter and VSR Financial? If so, the securities attorneys of The White Law Group may be able to help you recover your losses by filing a FINRA arbitration claim.
The White Law Group continues to investigate claims that Van Patter and VSR over-concentrated investors in high-risk investments like oil and gas limited partnerships, equipment leasing funds, non-traded REITs, and other Reg D private placements.
In 2013, VSR Financial was sanctioned by FINRA in connection with the sale of alternative investments and paid a fine of $550,000. VSR is has been known for its sales of alternative investments such as non-traded REITs, equipment leasing programs, oil & gas drilling programs, promissory notes and commodity funds.
Dennis Van Patter Suspended
In November of 2015 FINRA suspended Van Patter for 45 days and fined him $10,000 for allegations that a retired customer invest in alternative investments was not suitable in light of the customer’s investment objectives and risk tolerance.
The findings stated that Van Patter recommended that the customer invest $1.6 million in alternative investments such as REITs, note programs, oil and gas drilling partnerships and other private placements. As a result of Van Patter’s recommendations, the customer had approximately 52% of his liquid net worth concentrated in high risk alternative investments.
For FINRA’s full findings see FINRA Case # 2013036647401.
According to his FINRA BrokerCheck report, Dennis Van Patter was registered with VSR Financial in Plano, Texas from 10/09/1997 – 07/12/2016. He has been the subject of at least 10 customer complaints and the most recent allegations include heavy concentration in various illiquid and unsuitable investments and breach of fiduciary duty.
If you suffered losses investing with Dennis Van Patter and/or VSR Financial Services and would like to discuss your litigation options, please call the securities attorneys of The White Law Group at 1-888-637-5510 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information on the firm, visit http://www.whitesecuritieslaw.com.