SEC reportedly charges Massachusetts RIA Richard Guy Duncan with fraud

Are you concerned about investments with Richard Guy Duncan in East Longmeadow, MA? If so, the securities attorneys at The White Law Group may be able to help you.

According to a press announcement on August 12, the Securities and Exchange Commission has reportedly charged registered investment adviser Richard G. Duncan, of East Longmeadow, Mass., with allegedly defrauding two retail clients by convincing them to invest over $300,000 in a reported scam originating in Turkey.

The SEC alleges in an enforcement action filed in federal court in Springfield, Mass., that Duncan purportedly violated his fiduciary duty as an investment adviser by allegedly ignoring and failing to disclose warnings from two banks that the Turkish investment opportunity was most likely a scam.

He also allegedly made materially false and misleading statements to at least one client, according to the charges, promising as much as a 100% return on the Turkish investment.

According to his SEC adviser report, Duncan was reportedly registered with Ausdal Financial Partners as an investment adviser from May 2017 until he was allegedly discharged in April 2019 for his involvement in a “client loan and private investment in Turkey.”

Investigation

The White Law Group is investigation potential securities fraud claims involving the liability that Duncan’s employer may have for failure to supervise his alleged activities.

As fiduciaries, investment advisers are required to act in the best interest of their clients and not place their own interests ahead of their clients.

When investment advisers violate securities laws, such as making false and misleading statements, or violating their fiduciary duty, the investment adviser firm they are working with may be liable for investment losses.

Investment adviser 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.

If you have suffered losses investing with Richard Guy Duncan, 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 www.WhiteSecuritiesLaw.com.