Kalos Capital

Ex-Kalos Capital Broker Curtis Whipple Accused of Unsuitability & Misrepresentation Involving UDF IV

Published on: September 28, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Latest FINRA Arbitration Claim Allege REIT Losses

A number of investors recently filed a customer complaint against former Kalos Capital broker, Curtis Leroy Whipple, who was with the firm out of Plymouth, Michigan until this year. He faces allegations of unsuitability, misrepresentations, and lack of due diligence related to the claimants’ United Development Funding IV (UDF IV) losses.

UDF IV is a real estate investment trust (REIT) that mostly invests in secured loans for acquiring and developing land into single-family home lots, as well as to construct homes and model homes. UDF IV and the other UDF non-traded REITs have been accused in recent years of being part of a $1B Ponzi scam. United Development Funding is based out of Dallas, Texas.

$200K Investor Claim Against Arni Diamond, Of The Diamond Group, Alleges Unsuitable Alternative Investment Recommendations

Published on: June 18, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Diamond and Other Kalos Capital Brokers Are Accused of Broker Fraud

Arni Diamond, who is now a registered representative with Dempsey Lord Smith, is currently the subject of a pending $200K broker fraud claim accusing him of making unsuitable alternative investment recommendations reportedly while he was a Kalos Capital broker.

Diamond is one of a number of financial representatives currently or formerly associated with Kalos who has been accused of marketing securities products to investors even when they were inappropriate for them.

Elderly Retiree Claims Sheppard Mosher advisor Jason Mosher Overconcentrated His IRA With GPB Private Placements

Published on: June 11, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Investor Sues Kalos Capital Over GPB Capital Losses

A widower retiree in his eighties is suing Kalos Capital for losses he suffered in GPB Capital Holdings’ private placements and other risky investments that were recommended to him by Kalos broker, Jason Mosher.

The claimant contends that Mosher, who operates his business under the name Sheppard Mosher but is an employee of Kalos, overconcentrated his IRA in GPB investments and other risky securities including private Real Estate Investment Trusts (REITs) and privately traded securities. Now, this elderly investor is seeking up to $500K in damages.

Christopher Shaw, Founder and President of CJS Wealth Management, is the Subject of a FINRA Complaint Involving GPB Capital Recommendations

Published on: March 3, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Elderly Investor Claims $250K in GPB Fraud Losses

In yet another GPB private placement fraud case, our broker fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm) have filed a claim on behalf of an investor.

This time, the respondents are Pruco Securities and Kalos Capital, which the firm has gone after in previous private placements claims over the same investments and broker, Christopher Shaw. The claimant, who is an elderly woman from North Carolina is reporting over $250K in losses. She is seeking up to $500K in damages plus interests and other costs.

Kristian Finfrock, Founder of Retirement Income Strategies, is the subject of Investor Complaints Over GPB Capital and Other Esoteric Investments

Published on: January 8, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Another Kalos Capital Broker Sold GPB Investments To Investors

Once again, our GPB investment lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) have filed an investor fraud lawsuit against Kalos Capital and one of its brokers, Kristian Finfrock.

In this latest broker fraud case, the Claimants are a retired couple who contend that Kalos Capital broker and investment advisor, Kristian Finfrock, pushed them into placing $750K of their life savings into alternative investments including non-traded real estate investment trusts (Non-traded REITs), annuity contracts, and GPB Capital private placements.

Shepherd Smith Edwards and Kantas Investigates Kalos Capital Broker Darren Kubiak Over GPB Investments and Exchange-Traded Funds Sales

Published on: December 17, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Kalos Capital Broker Sold GPB Private Placements and LIETFs

Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) is investigating customer complaints involving Darren Michael Kubiak, a Kalos Capital broker who is currently suspended from the industry for three months. Kubiak is one of the Kalos representatives who sold GPB Capital Holdings private placements to investors. GPB is accused of operating a $1.8B Ponzi scam.

Kubiak Suspended By FINRA

Shepherd Smith Edwards and Kantas Pursues GPB Capital Investor Fraud Claim Against Kalos Capital, Ameriprise Financial and Ex-Broker Gary Imel

Published on: November 20, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Our investment fraud lawyers at Sheperd Smith Edwards and Kantas, LLP (SSEK Law Firm) represent a number of investors who have suffered losses from investing in GPB private placements that were sold to them by brokerage firms and their brokers.

Kalos Capital and Ameriprise Financial (AMP) are of these broker-dealers. Our broker fraud attorneys have filed a brokerage firm misconduct claim against them on our client’s behalf. This is not our first GPB investor fraud claim involving Kalos Capital.

GPB Investor Fraud Claim: Kalos Capital, Ameriprise Financial & Ex-Broker Gary Imel Investigated

What’s The Connection Between Kalos Capital And GPB Capital?

Published on: October 10, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Kalos Capital And GPB Capital: What Is Their Connection?

Shepherd Smith Edwards and Kantas (SSEK Law Firm) is continuing to investigate and file cases against Kalos Capital and its financial advisors in relation to GPB Capital investments. Kalos Capital is a FINRA licensed broker-dealer which is a subsidiary of Kalos Financial. Both are based our of the same address in Alpharetta, Georgia.

According to Kalos’s BrokerCheck Report (FINRA’s official record of firms and brokers), Kalos Financial owns 75% or more of Kalos Capital. According to its website, Kalos Financial was founded by David and Carol Wildermuth in 2004.

GPB Fails to Meet Its Own Disclosure Deadline, Fires Prime Automotive Group CEO

Published on: September 23, 2019 | by Shepherd Smith Edwards & Kantas, LLP

After more than two years without disclosing any audited financial statements to investors or regulators, GPB Capital Holdings has once again missed the deadline for providing a required update to shareholders. This time, the lapsed due date was one it had set for itself. This is just the latest bad news headline plaguing the beleaguered alternative asset firm, which is accused of running a $1.5B Ponzi scam. It is also facing a slew of investor claims for losses sustained after its GPB private placements funds saw a huge drop in value, in some cases by more than 73%.

Once boasting $1.8B in assets involving auto dealerships and waste management, the private placement issuer is now under investigation by the Federal Bureau of Investigation (FBI), the US Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and multiple state regulators. Two of its former business partners are accusing the company of operating like a Ponzi fraud.

Prime Automotive Group CEO Fired After Suing GPB Capital

Investor Files GPB Private Placement Claim Against Kalos Capital

Published on: September 16, 2019 | by Shepherd Smith Edwards & Kantas, LLP

A Tennessee investor is pursuing a Financial Industry Regulatory Authority (FINRA) arbitration claim against Kalos Capital, Inc. and its broker Martin Hunter McFarlin for the more than $100K in losses that he sustained from investing in non-traded real estate investment trusts (non-traded REITs) and the GPB Capital Automotive Portfolio. Now, the claimant is alleging omissions, misrepresentations, gross lack of supervision, unsuitable recommendations, and due diligence failures. Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) is representing this individual in his case against Kalos and McFarlin.

Our client is a divorced dad, a small business owner, and an unsophisticated investor, which is why he turned to McFarlin and Kalos several years ago to help him invest his retirement money for him and his family. During seminars and company Christmas parties, the claimant was told that private placements were safe alternative investments.

Private Placements Are Risky Investments