David Braeger of Irvine, California Barred from Securities Industry
Have you lost money with financial advisor David Braeger of Irvine, California? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against David O. Braeger. In 2016, FINRA filed a complaint against Braeger, alleging that he misappropriated or stole $30,000 from a couple.
FINRA alleged that the couple gave David Braeger the money in July 2009 to invest in Rubicon Capital Appreciation Fund, a fund managed by Braeger. FINRA alleged that Braeger failed to deposit the money in the fund and deposited it elsewhere and never invested it. FINRA further alleges that Braeger furthered this conduct by telling the couple up to at least 2014 that Rubicon was still open, even though Rubicon actually closed in 2010.
In December 2017, FINRA found that David Braeger misused or converted customer funds. FINRA also found that Braeger made misrepresentations about Rubicon. Braeger was barred from the securities industry for these violations.
David Braeger was a financial advisor and registered representative of Newport Coast Securities, Inc. from October 2008 to January 2012; with Accelerated Capital Corp. from January 2012 to May 2012; and with Arque Capital from May 2012 to February 2013. He worked at a branch office in Irvine, California.
Brokerage firms like Accelerated Capital Corp. and Arque Capital have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in California. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Newport Coast Securities.
Click to view: Braeger, David FINRA Order
Click to view: Braeger, David FINRA Comp
Click to view: Braeger, David BrokerCheck 7.21.16
If you lost money with David Braeger, Arque Capital, Accelerated Capital Corp., or Newport Coast Securities, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.