Broker Fraud Lawyers

Our Broker Fraud Lawyers Continue To Investigate Investor Losses

The Financial Industry Regulatory Authority (FINRA) announced that it has barred former financial James Thaddeus Walesa. His former clients have filed at least 19 investor lawsuits accusing him of making unsuitable investment recommendations, including one case that was concluded with a $9.75M settlement.

Walesa is accused of making inappropriate investment recommendations in businesses that he owned, ran, or directed. So far, at least $18.3M in settlements have been paid by Triad Advisors (now Osaic) or Arkadios Capital. Both are accused of ignoring Walesa’s alleged broker misconduct when he worked with them. Many of the customer disputes involving him remain pending, including a case in which $34,000,000 is being sought.

Walesa, who worked in the industry for 39 years, agreed to FINRA’s bar. It came after he failed to cooperate in the self-regulatory organization’s (SRO’s) probe into allegations that he sold high-risk private placements to customers. This included the alternative investment Clearday, of which he was CEO.

Other allegations that were made against James Walesa include negligence, breach of contract, due diligence failures, misrepresentations and omissions, and more.

I Think I Was The Victim of Broker Misconduct by James Walesa. What Should I Do?

James Walesa filed for bankruptcy in 2023. However, more investor loss claims could be filed against Arkadios or Triad Advisors (Osaic). Smith Edwards and Kantas (investorlawyers.com) is continuing to investigate losses sustained by previous customers.

Representing investors against brokers and investment advisers since the 1990’s, our broker fraud lawyers have the experience, skills, and knowledge required to successfully sue broker-dealers on behalf of customers. We know how to identify broker misconduct or negligence and determine whether your portfolio losses warrant grounds for an investment loss recovery claim.

If we decided to work together, you would have everyone at our firm working on your case. Our team of seasoned securities attorneys, paralegals, legal assistants, consultants, and others has a collective more than 100 years in securities law and the securities industry.

Most disputes between brokers and their customers are filed in FINRA arbitration. We have years of experience representing investors in this legal forum, which is not the same as going to court. We know how to maximize each of our clients’ recovery.

More than 90% of our clients have secured full or partial financial recovery through arbitration, mediation, and litigation.

Call (800) 259-9010 or contact us online.