WARNING!  Tobin Senefeld, Jeffrey B. Risinger, Matthew D. Haab, and FarmGrowCap LLC

Have you lost money with financial advisors Tobin J. Senefeld, Jeffrey B. Risinger, and Matthew D. Haab of Carmel, Indiana?  The Securities and Exchange Commission (SEC) brought a regulatory action against Senefeld, Risinger, Haab, and the companies that they were affiliated with.  Haab was affiliated with a registered investment advisory firm (RIA) called Veros Partners, Inc.  Tobin Senefeld and Jeffrey Risinger were registered representatives affiliated with PIN Financial LLC.

The SEC alleges that from 2012 to 2014, Haab, Senefeld, Risinger, and Veros Partners solicited at least 80 investors to invest more than $15 million in Farm Loan Holdings LLC and FarmGrowCap LLC (or Farm Grow Cap LLC).  The SEC alleged that Farm Loan Holdings and FarmGrowCap purportedly used money to make short term loans to farmers, and that investor proceeds were used to fund those loans.  However, the SEC alleged that investor funds were used to pay off earlier investors when those farms did not repay their loans, a classic sign of a Ponzi scheme.  It was further alleged that they paid themselves at least $800,000 in undisclosed fees and repeatedly misled investors about the risks, nature, and performance of the investments and underlying farm loans.  The SEC alleged that this was fraudulent and seeks to enjoin Haab, Senefeld, Risinger, and Veros Partners from engaging in this scheme.

In September 2016, the SEC entered an order barring Jeffrey Risinger from the securities industry.  In another action, FINRA (the Financial Industry Regulatory Authority) barred Jeffery Risinger from the securities industry after he failed to respond to a FINRA investigation.  FINRA was investigating Risinger regarding the same allegations with respect to Veros Partners.

In October 2016, FINRA also barred Tobin Senefeld from the securities industry after he failed to respond to FINRA’s investigation.  FINRA has also expelled PIN Financial from the industry, in June 2016.

Tobin J. Senefeld was a registered representative and financial advisor of PIN Financial LLC from December 2012 to June 2016, and he is also part owner and CEO of PIN Financial.  Senefeld was previously the subject of at least 16 securities regulatory actions, primarily from a free-riding scheme during 1999 and 2000.  Senefeld also has at least seven liens against him from the IRS and the Indiana Revenue Service.  He lives in Indianapolis.

Jeffrey B. Risinger was a registered representative and financial advisor with PIN Financial LLC from March 2014 to May 2015.  Risinger is also a licensed attorney and a part owner of PIN Financial.  He lives in Fishers, Indiana.

Brokerage firms like PIN Financial LLC 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.

Our attorneys have represented over one thousand investors who have been defrauded by their financial advisor or stockbroker.  While we have offices in Colorado, Washington, Illinois, and Michigan, we currently and have also previously represented clients throughout Indiana and the Midwest.

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If you have lost money with FarmGrowCap LLC, Farm Loan Holdings, Tobin Senefeld, Jeffrey Risinger, Matthew Haab, or Veros Partners Inc., and want to hear about ALL legal options, please visit https://www.israelsneuman.com or call us at 720-599-3505.

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.