Financial Advisors Craig Accardo & Frank Briseno III, Nettworth Financial Group, Metairie, LA

According to an article in Nola.com on August 11, 30 retired investors claim two financial advisors Craig Accardo & Frank Briseno III, “squandered their savings to earn big commissions.”

According to the FINRA lawsuit, the investors’ claim is filed against FSC Securities, the broker-dealer that employed them, with Briseno and Accardo cited in the suit as “nonparty representatives.”

The lawsuit reportedly alleges the brokers misrepresented investments and sold the retirees high-risk securities to generate high commissions for the brokers, even though they purportedly knew their clients wanted low-risk investments that would protect their capital.

According to the article, one of the non-traded REITs the investors were allegedly convinced to purchase was American Finance Trust Inc. (AFIN).  AFIN’s value has reportedly dropped by more than half since it was listed, and that company itself is being sued for allegedly misleading investors.

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The foregoing information is being provided by The White Law Group.  The White Law Group has handled a number of similar claims involving FSC Securities.

When brokers violate securities laws, such as recommending unsuitable investments, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

We represent investors in FINRA arbitration claims in all 50 states, including Louisiana. Our attorneys have recovered millions of dollars from many brokerage firms in the past.

If you have concerns about investments you made with Nettworth Financial Group, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.

For more information on The White Law Group, and its representation of investors, please visit WhiteSecuritiesLaw.com.