Bruce Kelly of Investment News writes about how longtime Triad Advisors broker James “Jim” Walesa faces allegations of selling illiquid alternative investments, including real estate deals, which he also managed, owned, or directed.

Walesa is accused of being both the salesperson and the product sponsor for some clients, leading to legal settlements and potential arbitration claims.

One settled investor claim alleged unsuitable recommendations for investments in businesses where Walesa held ownership positions, resulting in a settlement of nearly $2.1 million. Triad Advisors could face additional damages, with some claimants opting not to settle. The allegations highlight potential conflicts of interest in the brokerage industry.

Bruce Kelly interviews Dax White, of the White Law Group who is representing dozens of investors in claims against Triad.

Read it: Investment News, Giant Conflicts alleged Involving a Former Advisor… here.