Dennis Van Patter Investment Losses
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.
VSR is well known for its sales of alternative investments such as non-traded REITs, equipment leasing programs, oil & gas drilling programs, promissory notes and commodity funds. In 2013, VSR was sanctioned by FINRA in connection with the sale of alternative investments. VSR paid a fine of $550,000.
The White Law Group continues to investigate claims that Van Patter and VSR over-concentrated investors in high-risk direct participation programs like oil and gas limited partnerships, equipment leasing funds, non-traded REITs, and other Reg D private placements.
FINRA BrokerCheck
To resolve allegations that he violated numerous NASD and FINRA rules by recommending investments that were not suitable for his customer, Van Patter recently signed a Letter of Acceptance, Waiver, and Consent (AWC) . According to the AWC, while associated with VSR Financial Services, he 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.According to his FINRA BrokerCheck, Dennis Van Patter has also been the subject of at least 8 other customer complaints:
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- 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.
- In 2014, a 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 Dennis Van Patter made unsuitable investment recommendations.
- In 2008, a customer alleged that Dennis Van Patter executed excessive trades, made unsuitable investment recommendations, and executed unauthorized trades in a trust account.
- In October 2006, a customer alleged that Dennis 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.
Recovery of Investment Losses
If you suffered losses investing with Dennis Van Patter and/or VSR Financial Services 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 http://whitesecuritieslaw.com.
