Latest on Dennis Van Patter Investigation

Investment Losses with Dennis Van Patter

Have you suffered losses investing with VSR Financial Advisor Dennis Van Patter?  If so, the securities attorneys of The White Law Group may be able to help you recover your losses in a FINRA arbitration claim against VSR Financial.

The White Law Group continues to investigate claims that Van Patter and VSR over-concentrated investors. The investments in question are  high-risk direct participation programs like oil and gas limited partnerships, equipment leasing funds, non-traded REITs, and other Reg D private placements.

Van Patter recently entered into a Letter of Acceptance Waiver and Consent (AWC) to resolve allegations that he violated numerous NASD and FINRA rules by recommending investments that were not suitable for his customer.  According to the AWC, Dennis Van Patter allegedly recommended that a customer, a retired commercial pilot, invest $1.614 million in alternative investments such as REITs, note programs, oil & gas drilling partnerships and private placements.  For the full AWC, visit http://disciplinaryactions.finra.org/

According to his FINRA BrokerCheck, Dennis Van Patter has also been the subject of at least 8 customer complaints.

Customer complaints against Dennis Van Patter

Allegations include:

• In January 2016, a customer alleged that Dennis Van Patter breached his fiduciary duty, violated Texas securities law, and made unsuitable investment recommendations.
• In June 2015, a customer alleged that Dennis Van Patter recommended unsuitable investments, negligently misrepresented material facts, breached his fiduciary duty, and acted negligently. The claim further alleged that the investments involved were direct investments (DPs) and LPs, equipment leasing funds, oil and gas investments, promissory notes, and real estate securities.
• In 2014, a separate customer alleged that Dennis Van Patter misrepresented material facts, acted negligently, and breached his fiduciary.  The customer also alleged that the investments involved were variable annuities, direct investments (DPs) and LPs, equipment leasing funds, oil and gas investments, mutual funds, promissory notes, real estate securities and gold.
• In 2012, a customer alleged that  Van Patter made unsuitable investment recommendations.
• In 2008, a customer alleged that Van Patter executed excessive trades, made unsuitable investment recommendations, and executed unauthorized trades in a trust account.
• In October 2006, a customer alleged that Van Patter refused to sell certain direct participation programs (DPP) in a secondary market.
• In July 2006, a customer alleged that Van Patter told her that her $5,000 investment would be worth approximately $40,000 in 2014 and that between 1995-2005 there was a loss of growth.

To review Dennis van Patter’s full FINRA BrokerReport, visit http://www.finra.org.

Recovery of Investment Losses

If you suffered losses investing with Dennis Van Patter and would like to discuss your litigation options, please call the securities attorneys of The White Law Group at 1-888-637-5510 for a free consultation.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.  For more information on the firm, visit https://whitesecuritieslaw.com.