With the rise of investment opportunities, the risk of fraud has unfortunately increased as well. One such case that has recently caught our attention involves allegations against William Horak, a broker associated with Purshe Kaplan Sterling Investments and Wealth Management Corporation. The allegations, which are currently under investigation by the renowned law firm, Haselkorn & Thibaut, revolve around unsuitable transactions in the sale of two REITs: ARC Hospitality Trust and ARC Realty Finance Trust.
The Allegations: What’s Cooking?
Table of Contents
On June 5, 2023, a customer dispute was lodged against William Horak, alleging unsuitable transactions. The client claims that two REITs, ARC Hospitality Trust and ARC Realty Finance Trust, were sold to them in a manner that was not suitable for their investment profile. The claim is currently pending, with a potential financial impact of $50,000.
Red Flags: What to Watch Out For
Investment fraud can often be identified by a series of red flags. Here are some key signs to watch out for:
- Unsuitable investments: The broker recommends investments that do not align with the investor’s financial goals or risk tolerance.
- Over-concentration: The broker puts too much of the investor’s money into a single investment or type of investment.
- Failure to disclose: The broker does not fully explain the risks associated with an investment.
- Unregistered products: The broker sells investments that are not registered with regulatory authorities.
These red flags are not exhaustive, but they provide a starting point for investors to protect themselves from potential fraud.
Haselkorn & Thibaut: Who’s on the Case?
Haselkorn & Thibaut, a national investment fraud law firm with offices in Florida, New York, North Carolina, Arizona, and Texas, is currently investigating the allegations against William Horak and his associated companies. With over 50 years of experience in the field, a 98% success rate, and a “No Recovery, No Fee” policy, they are well-equipped to handle such cases.
FINRA Arbitration: How Can It Help?
FINRA Arbitration is a streamlined process to resolve disputes between investors and brokers. It can help investors recover losses incurred due to unsuitable transactions, failure to disclose, and other forms of investment fraud. Haselkorn & Thibaut is experienced in representing clients in FINRA Arbitration proceedings, offering a free consultation at 1-800-856-3352 for those who believe they may have been victims of investment fraud.
In conclusion, while the world of investments offers numerous opportunities for growth, it’s crucial to stay vigilant and informed. If you suspect investment fraud, don’t hesitate to reach out to professionals like Haselkorn & Thibaut for assistance.
