Eric Hesse from Chicago, Illinois Subject of Illinois Securities Department Complaint
Have you lost money with financial advisor Eric Hesse from Chicago, Illinois? We are continuing our investigation into allegations made by the Illinois Securities Department against Eric A. Hesse, who has been registered with Citigroup and U.S. Bancorp Investments. Illinois alleged that Hesse recommended the purchases of Unit Investment Trusts (or UITs) to some of his customers.
Hesse allegedly sketched a graph or chart explaining possible options for investments, including “principal protected, tax exempt municipal bonds”. Hesse purchased a UIT on behalf of the U.S Bancorp customer, but this investment was not “principal protected” and suffered losses. Hesse recommended the same to another U.S. Bancorp customer, again describing the UIT as “principal protected” when it was not.
Eric Hesse was a registered representative and financial advisor of U.S. Bancorp Investments from March 2012 to September 2015. He has also been registered with Citigroup from September 2015 to the present. He worked at branch offices in Palatine and Chicago, Illinois. According to Hesse’s BrokerCheck report, he has been the subject of at least four customer complaints.
Broker-dealers like U.S. Bancorp have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives. Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations. When broker-dealers 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; Ann Arbor, Michigan; and Seattle, Washington. We represent investors in FINRA arbitration in all 50 states, including over 150 investors in the past from throughout the Chicagoland area, Northern Illinois, and Central Illinois, including former clients of U.S. Bancorp.
Attorney David Neuman was born in Berwyn, Illinois and grew up in the western suburbs in Addison. He earned a degree in Finance at the University of Illinois in Urbana-Champaign before earning his law degree at Northern Illinois University in DeKalb, Illinois. Mr. Neuman also previously worked for a number of Chicago area law firms, including firms in St. Charles, Geneva, Chicago, and Barrington. He also previously lived in the Ravenswood neighborhood on the north side of Chicago.
Click to view: Hesse, Eric Illinois Complaint
Click to view: Hesse, Eric BrokerCheck 11.9.18
If you lost money with Eric Hesse or U.S. Bancorp, 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.