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Las Vegas Broker Judah Spinner Suspended Over Unapproved Investments in Blackbird Financial
Were you encouraged to invest with Judah Spinner or Blackbird Financial in Las Vegas or elsewhere in Nevada? If so, you’re not alone—and you may have legal options to recover your losses. At Israels & Neuman, our securities arbitration law firm is investigating recent regulatory findings involving Judah Spinner, a former representative of PFS Investments, also known as Primerica.
What Did FINRA Allege Against Judah Spinner?
In January 2024, PFS Investments terminated Judah Spinner, citing his involvement in an undisclosed outside business: Blackbird Financial. According to FINRA (the Financial Industry Regulatory Authority), Spinner engaged in over $1 million worth of unauthorized private securities transactions—meaning he allegedly sold investments to the public without receiving proper approval from his brokerage firm.
The FINRA investigation uncovered that Spinner sold 41 investments to 30 separate investors, bypassing firm oversight and violating securities industry rules. As a result, Spinner received a 12-month suspension from the securities industry and was fined $10,000.
Background on Judah Spinner
Judah Spinner worked out of a North Las Vegas, Nevada office while affiliated with PFS Investments and Primerica from February 2021 to December 2021, and again from January 2022 until January 2024. Prior to that, Spinner was also associated with Northwestern Mutual.
These affiliations are important because brokerage firms have a legal duty to supervise their representatives. If a firm fails to catch or stop unauthorized activity, they may also be held liable in a FINRA arbitration claim.
What is Blackbird Financial?
Blackbird Financial, the entity allegedly founded by Spinner, is at the center of these unapproved investment transactions. If you invested in Blackbird Financial—or were pitched similar products by Spinner—your investment may have been part of these unauthorized sales.
Investors should be aware that “private securities transactions” often lack transparency and oversight, making them riskier than traditional, firm-approved investments. If Spinner failed to disclose the true risks or nature of the Blackbird Financial investments, you may be entitled to recover those losses.
Can I Recover My Investment Losses?
Yes—Nevada investors have the right to pursue claims through FINRA arbitration, a legal forum designed to help recover funds lost due to broker misconduct or unsuitable investment recommendations.
Judah Spinner may be individually liable for misrepresentation, unsuitable advice, or breach of fiduciary duty. However, PFS Investments may also bear responsibility if they failed to properly supervise Spinner or ignored warning signs.
We Represent Investors in Las Vegas and Across Nevada
At Israels & Neuman, we have helped thousands of investors nationwide recover money lost to financial advisor misconduct and represent investors throughout the greater Las Vegas area, including in Las Vegas, North Las Vegas, Henderson, and Summerlin. Our attorneys have extensive experience handling claims involving Primerica and unapproved investment schemes.
Free Case Review — Speak to a Securities Fraud Attorney Today
If you invested with Judah Spinner or were sold unapproved investments like Blackbird Financial, contact us for a free case evaluation. Our attorneys are here to help you understand your rights and determine whether a claim through FINRA arbitration is right for you.
(720) 599-3505 or (206) 795-5798
Aaron Israels: aaron@israelsneuman.com
Dave Neuman: dave@israelsneuman.com
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