Written by The White Law Group• September 20, 2019• 2:23 pm• Current Investigations, Securities Fraud Articles

Mark A. Trewitt Broker Investigation

Financial Advisor Mark A. Trewitt, VFG Securities in Plano, Texas

Are you concerned about investments with Mark A. Trewitt in Plano, Texas? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

According to a press announcement, Texas Securities Commissioner Travis J. Iles on June 6 reportedly suspended investment adviser representative Mark A. Trewitt for 90 days for allegedly selling unsuitable investments to clients, including one couple who reportedly invested half of their liquid assets in an Oregon-based private fund that collapsed in 2016.

Trewitt reportedly sold the alleged unsuitable investments while employed at VFG Advisors Inc. in Plano, Texas.

Trewitt’s clients reportedly invested $173,306 in the fund, which was exactly half of their liquid assets. Investors nationwide lost as much as $600 million in the fund, which was one of the investment vehicles allegedly managed by Aequitas Management of Portland, Oregon, according to a press release.

Trewitt also purportedly recommended that two other clients, a husband and wife in their 70s who had stated a preference for moderate risk in their portfolio, invest $275,000 in high-risk, illiquid alternative investments, according to the press announcement.

The couple’s investment accounted for 40% of their liquid assets, according to the news release.

According to his FINRA BrokerCheck report, Trewitt was reportedly affiliated with VFG Securities in Plano, Texas from November 2010 until November 2017. He reportedly has 17 customer complaints reported on his broker check record, according to FINRA, two of which are still pending. Allegations include unsuitable investments, overconcentration of alternative investments, negligence, breach of fiduciary duty, among others.

Investigating Potential Claims

The White Law Group is investigating potential lawsuits regarding the liability that Trewitt’s employers may have for failure to properly supervise him.

When brokers violate securities laws, such as making 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 Texas. Our attorneys have recovered millions of dollars from many brokerage firms in the past.