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Written by 10:47 am Blog, Securities Fraud Articles

Recovery of Golden Summit Group Investment Losses

Have you suffered investment losses in a Golden Summit Group investment?  To the extent that you purchased the investment through a brokerage firm or financial professional, The White Law Group may be able to help you recover your losses through FINRA arbitration.

In 2008, the SEC filed a complaint against Ralph Gregory Gibbs alleging that he perpetrated a $21 million ponzi scheme through his business Golden Summit Group.  The SEC alleged that Gibbs promised to pay investors interest of 3-5% monthly and guaranteed that investors would not lose their principal.

The White Law Group is investigating potential securities fraud claims against the broker-dealers that recommended these offerings.

Financial advisors and broker-dealers have a duty to their clients to perform the necessary due diligence on an investment before offering it for sale to their clients and to ensure that any investment recommendation that is made is suitable in light of the client’s age, investment experience, net worth, and investment objectives.

Given what is now known about Golden Summit Group investments, it appears that the brokerage firms that sold the investments failed to assess the risk and in many cases sold these investments to investors unsuitably.

To determine whether you may be able to recover investment losses incurred as a result of your purchase of a Golden Summit Group investment, please contact The White Law Group at 312-238-9650 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 Boca Raton, Florida.

For more information on The White Law Group, visit https://whitesecuritieslaw.com.

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