{"id":4817,"date":"2017-12-06T20:21:57","date_gmt":"2017-12-07T02:21:57","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4727"},"modified":"2022-04-01T12:51:35","modified_gmt":"2022-04-01T17:51:35","slug":"10-four-points-capital-partners-customers-lose-574k-alleged-broker-fraud","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/10-four-points-capital-partners-customers-lose-574k-alleged-broker-fraud\/","title":{"rendered":"10 Four Points Capital Partners Customers Lose $574K Because of Alleged Broker Fraud"},"content":{"rendered":"<p>The US Securities and Exchange Commission has filed civil charges against two brokers for allegedly carrying out broker fraud in the form of<a href=\"https:\/\/www.investorlawyers.com\/investor-claims\/broker-misconduct\/unsuitability\/\" target=\"_blank\" rel=\"noopener noreferrer\"> unsuitable trades<\/a> that made them money while costing investors. According to the regulator\u2019s complaint, Zachary Berkey and Daniel Fischer engaged in in-and-out trading\u2014a strategy that was \u201calmost certain\u201d to cause customers losses.<\/p>\n<p>As a result, contends the SEC, 10 Four Points Capital Partners LLC customers collectively lost almost $574K while Fischer earned $175K in commissions and Berkey earned $106K. Four Points is a Texas LLC headquartered in NYC.<\/p>\n<p>The Commission accused the two brokers of churning customer accounts while hiding material information from clients, including facts about commissions, fees, and other costs. Because the securities were only held for a brief time and the costs for these transactions were \u201csignificant,\u201d the investments&#8217; share prices would have had to go up substantially for even a \u201cminimal profit\u201d to be made.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/10-four-points-capital-partners-customers-lose-574k-alleged-broker-fraud\/#more-4817\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US Securities and Exchange Commission has filed civil charges against two brokers for allegedly carrying out broker fraud in the form of unsuitable trades that made them money while costing investors. According to the regulator\u2019s complaint, Zachary Berkey and Daniel Fischer engaged in in-and-out trading\u2014a strategy that was \u201calmost certain\u201d to cause customers losses. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773,3801,3760,3741,1],"tags":[2929],"class_list":["post-4817","post","type-post","status-publish","format-standard","hentry","category-broker-fraud","category-sec","category-sec-enforcement","category-securities-fraud","category-uncategorized","tag-four-points-capital-partners-llc"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Four Points Capital Partners Customers Lose $574K | Investor Lawyers<\/title>\n<meta name=\"description\" content=\"The US SEC has filed civil charges against two brokers for allegedly carrying out broker fraud in the form of unsuitable trades.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/10-four-points-capital-partners-customers-lose-574k-alleged-broker-fraud\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Four Points Capital Partners Customers Lose $574K | Investor Lawyers\" \/>\n<meta name=\"twitter:description\" content=\"The US SEC has filed civil charges against two brokers for allegedly carrying out broker fraud in the form of unsuitable trades.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; 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Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/10-four-points-capital-partners-customers-lose-574k-alleged-broker-fraud\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/10-four-points-capital-partners-customers-lose-574k-alleged-broker-fraud\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"10 Four Points Capital Partners Customers Lose $574K Because of Alleged Broker Fraud","datePublished":"2017-12-07T02:21:57+00:00","dateModified":"2022-04-01T17:51:35+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/10-four-points-capital-partners-customers-lose-574k-alleged-broker-fraud\/"},"wordCount":565,"keywords":["Four Points Capital Partners LLC"],"articleSection":["Broker Fraud","SEC","SEC Enforcement","Securities Fraud"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/10-four-points-capital-partners-customers-lose-574k-alleged-broker-fraud\/","url":"https:\/\/www.investorlawyers.com\/blog\/10-four-points-capital-partners-customers-lose-574k-alleged-broker-fraud\/","name":"Four Points Capital Partners Customers Lose $574K | Investor Lawyers","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2017-12-07T02:21:57+00:00","dateModified":"2022-04-01T17:51:35+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"The US SEC has filed civil charges against two brokers for allegedly carrying out broker fraud in the form of unsuitable trades.","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/10-four-points-capital-partners-customers-lose-574k-alleged-broker-fraud\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/10-four-points-capital-partners-customers-lose-574k-alleged-broker-fraud\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/10-four-points-capital-partners-customers-lose-574k-alleged-broker-fraud\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"10 Four Points Capital Partners Customers Lose $574K Because of Alleged Broker Fraud"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards &amp; 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