Richard Demetriou, a registered representative with Titan Securities of Dallas Texas, was named a Respondent in a Financial Industry Regulatory Authority (FINRA) complaint alleging that he made numerous misrepresentations to prospective investors in connection with a speculative real estate investment which allegedly caused all investors involved to loss their monies.
According to the FINRA complaint, Richard Wayne Demetriou, of Dunwoody Georgia, served as the manager of RBCP, a Mississippi company involved in speculative real estate investments. FINRA’s complaint notes that RBCP was orchestrated by an individual who was barred from the securities industry for securities fraud. Mr. Demetriou allegedly promoted investments in RBCP to at least 36 customers, including four Titan customers. In his promotion of the investment, Mr. Demetriou sent prospective investors several promotional emails and sales literature which allegedly contained numerous misrepresentations which, FINRA alleges, Mr. Demetriou had no reason to believe were accurate. Unfortunately, as of October 17, 2016, the RBCP investment promoted by Richard Demetriou has not returned any investment funds and all investor monies have been lost.
Stockbrokers, registered representatives, and other financial professionals have been known to engage in many types of fraudulent, negligent and prohibited behavior which are in violation of industry rules and procedures. In order to protect investors from stockbroker misconduct, FINRA rules require broker-dealers to establish and implement a supervisory system in order to safeguard customer assets. If broker-dealers and their supervisors fail to establish and implement these protective measures, they may be liable to account holders for investment losses. As a result, account holders who have suffered losses stemming from a registered representative’s misrepresentations and/or omissions regarding investment recommendations can file a claim to recover damages against broker-dealers, like Titan Securities, which have a duty to supervise its employees in order to prevent the above-described misconduct.
Have you suffered losses in your Titan Securities or other investment account due to your stockbroker’s misrepresentations and omissions? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce is accepting clients with valid claims against Titan Securities stockbrokers who may have misrepresented investments and caused investors losses.
The most important of investors’ rights is the right to be informed! This Investors’ Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 35 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to protecting investors’ rights throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at firstname.lastname@example.org for answers to any of your questions about this blog post and/or any related matter.