| Read Time: 2 minutes | Broker Misconduct | SEC News | Stockbrokers In The News |

The Securities and Exchange Commission (SEC) announced that it has accepted an Offer of Settlement submitted by Levi Lindemann in which he is barred from the securities industry for allegedly operating a fraudulent scheme through his private company, Gershwin Financial, Inc. and his sole proprietorship, Alternative Wealth Solutions.  The SEC alleged in its complaint that Levi Lindemann, of West Lakeland, Minnesota, raised approximately $976,000 from six investors, including elderly individuals, and told the investors that their money would be used to purchase various investments including notes and interests in a unit investment trust (UIT).  The SEC complaint alleged that in reality, none of Mr. Lindemann’s purported investments were ever made.

Mr. Lindemann is a former registered representative with J.P. Turner & Company, LLC (J.P. Turner).  His BrokerCheck report shows that Mr. Lindemann is currently involved in four (4) pending customer disputes while he was employed by J.P. Turner for allegations including breach of fiduciary duty, misrepresentations, violation of Minnesota Uniform Securities Act, and negligence.

Stock brokerage firms have a duty to supervise their employees. They are required to have policies and procedures in place that will safeguard the funds and securities of customer accounts.  Broker-dealers must establish and implement a reasonable supervisory system to protect customers from all types of broker misconduct.  If broker-dealers do not establish and implement these protective measures, they may be liable to investors for damages flowing from the misconduct.  Therefore, investors who have suffered losses due to fraud, negligence, misrepresentations and/or other misconduct by their broker can bring forth claims to recover damages against broker-dealers, like J.P. Turner & Company, which has a duty to supervise its employees in order to prevent the above-described misconduct.

Have you suffered losses in your J.P. Turner & Company investment account due to your stockbroker’s fraud or other misconduct?  Was Levi Lindemann your stockbroker?  We believe that Mr. Lindemann’s employers may have not accurately or completely reported all of the Customer Disputes involving Mr. Lindemann and/or the firm and request that any and all investors who have made any complaints against J.P. Turner or Levi Lindemann contact our office, Robert Wayne Pearce, P.A., for a free consultation immediately. Mr. Pearce is accepting clients with valid claims against J.P. Turner & Company stockbrokers who may have engaged in misconduct 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 40 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 pearce@rwpearce.com for answers to any of your questions about this blog post and/or any related matter.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $125 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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