If you have suffered losses investing with Scottsdale, Arizona stockbroker Robert Turpin, call (860) 920-5181 for a FREE, NO OBLIGATION consultation to discuss your investment loss recovery options.
According to recent FINRA BrokerCheck reports, Scottsdale, Arizona-based stockbroker Robert Turpin (CRD# 1063249) recently had his registration with his brokerage firm (Source Capital Group, Inc.) terminated for allegedly “selling away/unauthorized OBA”.
In the securities industry, when a stockbroker like Bob Turpin sells investments that are not approved by the brokerage firm they are registered with, they are engaged in a type of misconduct that is called “selling away”. Generally speaking, stockbrokers are required to only sell investments that have been reviewed and approved by the brokerage firm they are registered with. Even if a broker sells investments that are not approved to investors, in many cases the brokerage firm may be held liable for losses in those investments even if the investment itself was not approved. Moreover, because brokerage firms have a regulatory duty to supervise its brokers and the transaction itself to ensure that securities are suitable for investors, brokerage firms may be held liable for “selling away” if investors suffer losses in unapproved investments.
Upon information and belief, former stockbroker Robert Turpin may have recently been affiliated with or engaged in the following outside businesses that may have raised capital from investors:
- TARA ESTATES INVESTORS,LLC
- TARA FIRST MORTGAGE-SECOND OFFERING, LLC
- STORAGE 85, LLC
- WATFORD CITY INVESTORS, LLC
- WATFORD MGMT
- BARCELONA HOTEL GROUP, INC.
- TARA FIRST MORGAGE-PHASE I, LLC
- GRG MANAGEMENT COMPANY, LLC
In particular, with regard to Watford City Investors, LLC, on April 24, 2013 this entity filed a Form D with the SEC indicating that it had raised $1.5 million from investors through an offering of securities. Robert Turpin was listed as the Manager of this entity on the Form D filing.
If you are an investor that has suffered losses investing with Robert Turpin, you may be able to recover your losses through FINRA arbitration or securities litigation. Please call Kons Law Firm at (860) 920-5181 for a FREE, NO OBLIGATION consultation to discuss your investment loss recovery options.
Kons Law Firm represents investors nationwide in securities arbitration and litigation matters. To learn more about the Firm’s securities litigation and FINRA arbitration practice, please visit www.investmentfraudattorneys.com.
