Are Premier Global Corp. Promissory Notes Part of A Mass $100M Ponzi Scam? Our Ponzi Scam Law Firm Are Investigating Ex-Gradient Securities Financial Advisor Nicholas Stovall
If you suffered serious investment losses after your stockbroker sold you a Premier Global Corp. promissory note or transferee agreement, Shepherd Smith Edwards and Kantas (investorlawyers.com) wants to talk to you.
There are growing suspicions that Premier Global Corp. may have been a more than Ponzi scam, which is what state securities regulators in Oklahoma and Kansas contend that it is. Misrepresentations of profitability were purportedly made. The notes’ issuers ended up defaulting on the notes.
The entities believed to be involved:
- Premier Global Corporation (f/k/a Premier Construction Services, Inc. and doing business as Premier Construction Billing)
- Premier Factoring, LLC
- PF-2, LLC
- PF-3, LLC
- PF-4, LLC
- PF-5, LLC
- PF-6, LLC
- PF-7, LLC
- DDI Advisory Group, LLC
Court documents allege that Premier Global and its manager ,Steve Parish moved funds to 21 bank accounts and used investors’ funds to pay for real estate and certain lifestyle expenses. Premier Global is now in receivership.
Our Premier Global Loss Attorneys Are Investigating Ex-Gradient Securities Broker Nicholas Stovall
A number of brokers are believed to have sold Premier Global securities to customers. This includes former Gradient Securities financial advisor Nicholas Stovall. He was permanently barred from the industry by the Financial Industry Regulatory Authority (FINRA).
The self-regulatory organization (SRO) found that Stovall took part in more than $1.4M in private securities transactions of promissory notes without the knowledge and approval of Gradient. This is an illegal practice known as selling away.
While FINRA’s Letter of Acceptance, Waiver, and Consent involving Stovall does not specify which notes, it is believed that Premier Global promissory notes were involved.
Trusted Ponzi Scam Law Firm
Shepherd Smith Edwards and Kantas Ponzi Scam Law Firm is looking into claims of losses by Premier Global investors who were sold this investment by a US broker, including ex-Gradient Securities registered representative Nicholas Stovall.
There are concerns that in the wake of the Ponzi scam allegations, financial advisors and their broker-dealers neglected to conduct the necessary due diligence before unsuitably marketing and selling Premier Global promissory notes to investors.
A Ponzi scheme is an investment fraud in which newer investors’ money is used to pay earlier investors. The latter is misled into thinking they are receiving legitimate income, returns, dividends, or redemptions. Ponzi frauds inevitably fail, and it is the investors who end up losing.
Even if your broker was not directly involved in perpetrating the Ponzi scam, you still may be able to hold them liable for your losses. You may be able to make a claim against their broker-dealer for failing to properly supervise their registered representative and activities in your account.
You want to work with seasoned Ponzi fraud attorneys who understand the role your stockbroker may have played in unnecessarily exposing you to this scam. Selling away, unauthorized trades, misappropriation, breach of fiduciary duty, and omissions are just some of the kinds of broker misconduct or negligence that can lead to serious losses for a financial advisor’s customers.
We have been representing retail investors, retirees, seniors, wealthy investors, and institutional investors for over 30 years. More than 90% of our clients have received full or partial financial recovery.
Contact Our Broker Fraud Lawyers About Your Alleged Premier Global Ponzi Scheme Losses:
Call (800) 259-9010 or fill out this form.