Richard Duncan from Springfield, Massachusetts, Ordered to Pay Over $500,000 Regarding Turkish Scam

LONGMEADOW, MASSACHUSETTS

The securities and investment fraud law firm of Israels & Neuman is continuing to look into allegations made against Richard Duncan from Springfield, Massachusetts.  In 2019, the Securities and Exchange Commission (SEC) brought a civil action against Richard or “Rick” Duncan.  The SEC alleged that Duncan raised over $500,000 from investors to invest in a purported investment opportunity in Turkey that was a scam.  In March 2022, a federal judge entered into order that found Duncan civilly liable for this scam, and ordered Duncan to pay $530,000.

Richard Duncan or Rick Duncan was an investment advisor and representative of Ausdal Financial Partners from May 2017 to April 2019.  He also worked with Bradway Financial from 2009 to April 2017.  He worked at branch offices in Longmeadow and East Longmeadow, Massachusetts.  Duncan was also terminated by Ausdal for this conduct.

Ausdal Financial Partners has obligations under SEC rules and regulations to adequately monitor the conduct of its investment advisory representatives like Rick Duncan.  If Audsal failed to adequately supervise him, it can be liable for financial losses.

Israels & Neuman PLC has represented investors all over the country, including investors in Massachusetts and New England.  We previously have had cases against Ausdal Financial.

View SEC Complaint:  Duncan, r SEC Complaint

View Investment Advisor Check:  Duncan, r IA Check 8.13.19

If you lost money with Richard Duncan, Ausdal Financial Partners, or Bradway Financial, please Contact Us at 720-599-3505 or 206-795-5798 for a free evaluation of your case.