NEW YORK, June 24, 2015 (GLOBE NEWSWIRE) -- Gana LLP filed claims on behalf of three investors against FSC Securities Corporation (“FSC”) in connection with FSC financial advisor, Barry G. Hartman’s (“Hartman”) unsuitable recommendations and sales of high-risk securities to investors who were looking to preserve their retirement assets.
According to the complaints, Hartman made recommendations contrary to the investor’s needs and financial objectives. The allegations state that Hartman assured the investors that he would keep their money safe but instead invested their money in Invizeon Corporation (“Invizeon”). Moreover, Hartman allegedly used his customers to raise money for Invizeon, without ever disclosing his conflict of interest in that Hartman was the beneficial owner of the company. Hartman is alleged to have sold notes, warrants, and shares of Invizeon without ever disclosing his role with Invizeon or the risks associated with investments in the company.
In addition to Invizeon, Hartman also sold the investors several different speculative and illiquid securities including ICON Leasing Fund Eleven, LLC (“ICON 11”), the Behringer Harvard Real Estate Investment Trust (the “Behringer REIT”), Ishares Silver, Invesco Gold & Precious Metals Fund, American International Group (“AIG”), and the Invesco Developing Markets Fund.
Hartman was recently terminated from FSC, after approximately thirteen years with the firm. During Mr. Hartman’s tenure at FSC, he conducted a significant part of his business through an entity known as Rocky Mountain Financial, LLC. Hartman was terminated by FSC for violation of firm policies including Hartman’s participation in undisclosed private securities transactions believed to be related to his involvement in Invizeon.
The investors allege that FSC failed to supervise Hartman’s investment activities as it pertains to Invizeon, their other investments, and that FSC otherwise failed to properly monitor Hartman. The claims allege that FSC’s lax procedures and policies allowed for Hartman’s unsuitable recommendations, negligence, and unauthorized trades.
The attorneys at Gana LLP represent victims of Hartman to recover their losses. Gana LLP focuses its practices on handling investor protection matters.
Barry Hartman investors are encouraged to contact our offices to learn about their potential recovery options. If you would like to schedule a free consultation with an attorney at our offices, please contact Adam Gana at (212) 776-4251 or by e-mail at agana@GanaLLP.com. You may also visit the firm’s website at www.ganalawfirm.com.