David Gott, formerly of Ausdal Financial Partners, Suspended Six Months from the Securities Industry
Have you lost money with financial advisor David Gott of Tipton, Iowa? We are investigating allegations made by FINRA (the Financial Industry Regulatory Authority) against David G. Gott. FINRA alleged that Gott solicited four investors to invest $546,000 in a frozen custard company he was running called Gott Ice Cream? His company was also doing business as “David’s Famous”.
It was alleged that David Gott did not have permission from his brokerage firm, Ausdal Financial Partners, to raise capital for his frozen custard company. Gott allegedly told Ausdal Financial Partners about his involvement in the company but did not get permission to raise money for such. To settle these allegations, Gott agreed to a six-month suspension from the securities industry and a $5,000 fine.
David Gott was a financial advisor and registered representative of Ausdal Financial Partners from November 2012 to October 2015. He worked at a branch office in Tipton, Iowa. Gott was also the subject of several financial compromises and tax liens.
Brokerage firms like Ausdal Financial Partners 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 Iowa. Attorney David Neuman represented numerous investors against DeWaay Capital Management, based out of Clive, Iowa. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Gott, David FINRA AWC
Click to view: Gott, David BrokerCheck 7.12.17
If you lost money with David Gott or Ausdal Financial Partners, 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.