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Written by 6:12 pm Blog, Securities Fraud Articles

There is Still Time to Recover AmeriFirst Investment Losses through FINRA Arbitration

Did you suffer investment losses in an AmeriFirst (AmeriFirst Funding Corp. or AmeriFirst Acceptance Corp.) promissory note that you purchased from a registered financial advisor or brokerage firm? If you did, the attorneys of The White Law Group may be able to help you recover your investment losses through FINRA arbitration.

There is still time to recover these losses under FINRA rules as long as the claim is brought within 6 years of the event or occurrence giving rise to the claim. The White Law Group’s securities practice focused on FINRA arbitration and has the experience to help guide you through the recovery process.

Jeffrey Charles Bruteyn, former managing director of AmeriFirst, has been charged, convicted and sentenced for his role in a multi-million dollar investment fraud scheme. According to a US Department of Justice release from March 2011, Bruteyn “was sentenced…by U.S. District Judge Barbara M. G. Lynn to 25 years in prison, following his conviction in April 2010 on nine counts of securities fraud.”

The case culminating in the sentencing of Mr. Bruteyn began when the “Securities and Exchange Commission brought an emergency action to halt the fraud in July 2007.”

The USDOJ report states that “[a]ccording to evidence presented at trial, Bruteyn orchestrated offerings of promissory notes called Secured Debt Obligations (“SDOs”) that raised more than $50 million from approximately 600 investors living in Texas and Florida, many of whom were retired and all of whom were looking for safe and secure investments.”

Many investors bought directly from Bruteyn which makes recovering investments difficult, but the USDOJ reports that “he also arranged for brokers to sell the securities.” If a registered broker recommended that you invest in AmeriFirst SDO’s you may have an opportunity to recover your losses through the FINRA dispute resolution process.

If you invested in an AmeriFirst investment through a financial professional or brokerage firm and would like to discuss your potential to recover your losses with a securities attorney, please call our Chicago office at 312-238-9650.

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, please visit our website at http://www.whitesecuritieslaw.com.

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