Shepherd Smith Edwards Continues To Investigate Broker James Walesa As Investors Pursue Tens of Millions of Dollars in Damages
More Than 100 Investors May Have Been Impacted By Allegedly Unsuitable Recommendations
If you are an investor who suffered serious losses while working with former financial advisor James Thaddeus Walesa, Shepherd Smith Edwards and Kantas (investorlawyers.com) wants to talk to you.
The brokerage industry veteran, who left in 2021 to become CEO of senior care technology company Clearday Inc., is facing a storm of allegations by his former customers accusing him of broker misconduct and negligence.
James Walesa’s BrokerCheck report shows there are over $44,000,000 in pending customer disputes involving him, a number of which allege unsuitable investment recommendations, including in businesses that he was in a position of ownership, direction, or some other involvement.
One of the investor lawsuits is seeking $34,000,000 in damages. Around $17,000,000 in settlements were reached in already resolved claims brought by other former customers of Walesa.
Last month, the Financial Industry Regulatory Authority (FINRA) initiated a regulatory complaint contending that Walesa did not produce documents and information in its probe into a Statement of Claim made against him and his then-member firm.
Walesa is accused of unsuitably recommending to an 85-year-old that he invest $200,000 in Clearday, which was a highly speculative investment and the company he runs. Walesa allegedly later unsuitably recommended that the daughter of the Client, who passed away, invest $100,000 in the same company.
Other claims made by James Walesa’s former customers include breach of contract, due diligence failures, breach of fiduciary duty, negligence, misrepresentations and omissions, and more.
Prior to working as an Illinois broker with Arkadios Capital from 2019 to 2021, James Walesa was a Triad Advisors financial advisor for 18 years. He worked at several other broker-dealers before then, during his 39 years in the industry.
What Should You Do If You Suspect Broker Fraud Involving Ex-Financial Advisor James Walesa?
Contact Shepherd Smith Edwards and Kantas today to request your free, initial case assessment. We have been fighting against broker-dealers on behalf of investors for decades.
Many of us are former brokers who quit the brokerage industry because we didn’t like how investors were being treated. We know what broker misconduct looks like and how to maximize an investor’s chances for a full financial recovery.
We provide seasoned securities representation in arbitration, mediation, and litigation. When you retain our securities firm, you are hiring all of us to fight for you. Call (800) 259-9010 or complete this online form.