Why Are Our Securities Lawyers Investigating WealthForge Securities Broker Trawnegan Gall Over Delaware Statutory Trust Sales?

The law firm Shepherd Smith Edwards and Kantas is representing two California retirees seeking up to $500,000 in damages from WealthForge Securities and broker Trawnegan Gall over the allegedly unsuitable sale of high-risk, illiquid Versity Investments Delaware Statutory Trusts (DSTs). The lawsuit comes amid a separate $56 million legal battle against Versity (now Crew Enterprises) for alleged fund misappropriation, sparking wider investigations into multiple brokerage firms that marketed these products to retail investors.

Shepherd Smith Edwards and Kantas (investorlawyers.com) is representing two California retirees in their Versity investment recovery case against WealthForge Securities and its financial advisor Trawnegan Gall. The Claimants are pursuing up to $500,000 in damages.

These were two seniors who were looking to invest in a 1031 real estate exchange. They met with Gall, who presented himself as a specialist in selling Delaware Statutory Trusts (DSTs), to effectuate a 1031 exchange. Unfortunately, one of these DSTs, the Versity Income Property Notes, has since fallen into trouble.

Versity Investments (NKA Crew Enterprises), which is a real estate investment firm focused on “purpose-built” student housing,  is accused of defrauding investors in a $56M fraud. Not only that, but this alternative asset firm was facing allegations of problems even before the fraud claims surfaced. Meanwhile, the Versity Notes appear to have no collateral and are likely entirely worthless.

The Claimants, who haven’t received returns for a couple of years, are now looking at serious losses. In their Versity DST Lawsuit, the Claimants are accusing WealthForge and Gall of unsuitability, misrepresentations and omissions, negligence, gross negligence, breach of fiduciary duty,  SEC Regulation Best Interest violations, breach of contract, and more.

Our Versity DST recovery attorneys are also representing many investors against the brokerage firms that recommended these Regulation D private placement offerings to customers, including many retail investors.

Did WealthForge Financial Advisor Trawnegan Gall Sell Versity DSTs To Other Customers?

WealthForge Securities broker Trawnegan Gall has been in the industry for 12 years, including previously with Cabot Lodge Securities and before that with Sandlapper Securities. His BrokerCheck CRD lists four customer disputes filed since 2022, including one involving a private placement security that was settled. The still pending claims appear to primarily involve DST offerings, with the claimants suing for a collective amount of more than $2.7M in damages.

Trawnegan Gall is Senior Vice President of Cornerstone Real Estate Investment Services in Orange, CA. His LinkedIn profile lists him as a DST specialist who also brokers certain real estate investment trusts (REITs) and real estate-based private placements through WealthForge, which is not affiliated with Cornerstone.

If you suffered substantial investment losses in a Versity DST or another Delaware Statutory Trust or real estate-related investment product sold to you by WealthForge financial advisor Trawnegan Gall, Shepherd Smith Edwards and Kantas wants to talk to you.

Why Should You Explore Your Legal Options If You Suffered Versity Delaware Statutory Trust Losses?

• Lenders are now suing Versity/Crew Enterprises in a $56M lawsuit. While a New York Judge dismissed certain fraud claims, the court allowed substantial misappropriation and breach-of-contract claims to proceed.
• It has come to our attention that there were brokers who made a lot of money off selling Versity Delaware Statutory Trusts to investors who are now looking at substantial losses.
• These Reg D offerings were illiquid, high-risk, and should never have been sold to retail investors and conservative retirees.
• Many Versity investors appear to be the victims of unsuitable investment recommendations, due diligence failures, negligence, excessive concentration, and other broker misconduct by a financial advisor.

You may be able to recoup your Versity DST losses by suing your broker and their broker-dealer.

Talk To One of Our Trusted Versity DST Lawsuit Attorneys

Call (800) 259-9010 or contact us online to schedule your free case assessment.