November 26, 2019 Comments (0) Blog, Current Investigations, Securities Fraud

Conrad Coggeshall Broker Investigation

Conrad Coggeshall Broker Investigation, featured by Top Securities Fraud Attorneys, The White Law Group

Financial Advisor Conrad Coggeshall, Packerland Brokerage Services in Scottsdale, Arizona

Are you concerned about investments with Conrad Coggeshall in Scottsdale, Arizona? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

According to the Securities and Exchange Commission this week, the regulator has reportedly charged former financial advisor Conrad Coggeshall with allegedly defrauding elderly investors out of $700,000.

Coggeshall purportedly raised $700,000 between April 2017 and May 2018, reportedly telling investors the money would be invested in Business Owners Tax Relief, a New York-based mergers and acquisitions firm that would pay out periodic interest at fixed rates, according to a SEC press release.

According to the SEC, the firm didn’t exist, and Coggeshall allegedly deposited the investors’ money into brokerage and bank accounts of an Arizona company with the same name which belonged to him. He purportedly spent the money on trading losses and personal expenses, including the rent on his apartment, according to the complaint.

Coggeshall also allegedly “used funds from these accounts to make payments to investors, which he falsely represented were interest payments from the New York mergers and acquisitions firm,” according to the press release.

According to his FINRA BrokerCheck report, Coggeshall was reportedly affiliated with Packerland Brokerage Services in Scottsdale, Arizona from 2015 until 2018.

The regulator is seeking a permanent injunction, disgorgement plus interest and civil money penalties against Coggeshall and disgorgement plus interest from Business Owners Tax Relief, according to the SEC.

Investigating Potential Lawsuits

The White Law Group is investigating potential lawsuits regarding the liability that Coggeshall’s employers may have for failure to properly supervise him.

When brokers violate securities laws, such as misappropriating clients’ funds, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.

Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

We represent investors in FINRA arbitration claims in all 50 states, including Arizona. Our attorneys have recovered millions of dollars from many brokerage firms in the past.

If you are concerned about your investments with Conrad Coggeshall, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.

For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.

 

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