Have you suffered losses investing in Silver Oak Leasing? If so, the securities attorneys of The White Law Group may be able to assist you.
The firm is currently investigating potential FINRA arbitration claims against the broker-dealers that sold investments in Silver Oak Leasing.
Silver Oak Leasing, Inc is a California finance company founded in 2006 that invests in luxury auto leases. According to an Orange County Register’s article, the company was forced into involuntary bankruptcy on Jan 30, 2012 after allegations were made that Silver Oak Leasing was part of a Ponzi scheme (View article here).
It appears that certain brokerage firms and financial advisors may have been selling investments in Silver Oak Leasing. For example, according to a recent Investment News report, stock and promissory notes investments in Silver Oak Leasing were sold by Alberto Neira, a financial advisor that was until recently registered with LPL Financial recently barred Neira from the securities industry.
Neira’s CRD also indicated that in November 2012 he entered into a Letter of Acceptance, Waiver and Consent (AWC) with FINRA for failing to fully disclose his outside business involvement with Silver Oak to LPL Financial, including that he owned 55% of the common stock, was a director of Silver Oak, and received a salary and compensation from Silver Oak.
Brokerage-firms have a legal responsibility to properly supervise the activities of all their agents. In addition, brokers-firms are required to demonstrate adequate due diligence on an investment before recommending the investment to a clients. Recommendations to clients must be consistent with an individuals’ risk tolerance, financial objectives, and investment knowledge. Brokerage-firms that fail to follow FINRA regulations can be held liable for financial losses.
If you invested in Silver Oak Leasing at the recommendation or Alberto Neira or another financial advisor, you may be able to recover your losses through a FINRA arbitration claim. For a free consultation with a securities attorney, please call The White Law Group 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 https://www.whitesecuritieslaw.com.