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FRAUD ALERT! Brian Martinsen of SW Financial Charged with FRAUD
Brian Martinsen, Formerly of SW Financial, Civilly Charged with Securities Fraud
ST. JAMES, NY
Are you a current or former customer of StraightPath Venture Partners or StraightPath Management LLC? We are reviewing allegations made by the SEC against StraightPath and its founders, which include Brian Martinsen of St. James, New York.
The SEC alleged that StraightPath was purported to provide access to highly-coveted shares of private companies that may hold an initial public offering (IPO). But StraightPath was just a fraud, according to SEC allegations. The SEC further alleged that StraightPath did not own all the private company shares that they represented they did, that investors paid exorbitant fees that improperly made Brian Martinsen and his co-founders millions of dollars, and that Martinsen and the co-founders improperly commingled investor funds. The conduct allegedly happened from November 2017 to February 2022.
Brian Martinsen had been in the securities industry for a number of years. Martinsen had recently been with SW Financial, from May 2018 to April 2020. Martinsen had also been with Windsor Street Capital and Alexander Capital. Martinsen worked in an office in Melville, New York while with SW Financial. He had also been the subject of at least seven customer complaints and three prior regulatory investigations.
SW Financial is a FINRA member and must abide by all FINRA rules. This includes Rule 3110 to adequately supervise its representatives like Brian Martinsen. If SW Financial did not adequately supervise Brian Martinsen, it may be liable for investor losses, including potentially sales made by StraightPath.
Our law firm represents investors all over the country in FINRA arbitration. We regularly bring claims against brokerage firms like SW Financial.
View BrokerCheck Report: Martinsen, b BrokerCheck 5.17.22
View SEC Complaint: Martinsen, b SEC Complaint