29 Nov Davis Escarcega – Material Misrepresentations
Davis Escarcega Allegedly Made Materially False and Misleading Statements to seven customers in connection with their purchase of securities Totaling Approximately $4.1 Million
Davis Joseph Escarcega, of Phoenix, Arizona, allegedly made false and misleading material misrepresentations to investors which totalled approximately $4.1 million, according to a FINRA Complaint from the Department of Enforcement presently being examined by attorneys Joe Peiffer and James Booker.
Escarcega allegedly took steps to mislead investors regarding the sale of corporate debt securities, the aforementioned FINRA Complaint reports.
The Peiffer Wolf securities lawyers are currently investigating Davis Joseph Escarcega’s alleged material misrepresentations.
Davis Joseph Escarcega Barred by FINRA from Associating with Any Firm in Any Capacity and Disgorged $52,270; Escarcega Allegedly Produced Fraudulent Misrepresentations to Seven Customers in Regard to Investment Options in GWG Debentures
Davis Joseph Escarcega allegedly produced fraudulent misrepresentations to seven customers connected to investments in GWG Debentures and hence violated NASD and FINRA Rules, according to the aforementioned FINRA Complaint from the Department of Enforcement presently currently under review by attorneys Joe Peiffer and James Booker.
The aforementioned Complaint also alleges that GWG had a short operating history and had never turned a profit, and on 2009 and 2010, it produced losses in excess of $5 million, the Complaint reports.
David Joseph Escarcega, based on the previously mentioned violations, has been barred by FINRA from associating with any member firm in any capacity and has been ordered to disgorge as a fine the amount of$52,270, the Complaint reports.
Securities Lawyers Investigating
The Peiffer Wolf securities lawyers often represent investors who lose money as a result of alleged misleading material representations and are currently investigating Davis Joseph Escarcega’s alleged material misrepresentations. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Davis Joseph Escarcega’s alleged material misrepresentations may contact the securities lawyers at Peiffer Wolf, Joe Peiffer or James Booker, for a free no-obligation evaluation of their recovery options, at 216-589-9280 or via e-mail at [email protected] or [email protected]