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Our law firm is investigating potential claims against MetLife Securities, JHS Capital Advisors and The Investment Center on behalf of customers of Robert Van Zandt. It has been alleged that VanZandt ran a Ponzi Scheme by selling notes in a purported real estate investment which were unregistered securities. This alleged Ponzi Scheme is said to have been run through various shell organizations including Grace Avenue Corp and Burke. Many customers of Van Zandt were residents of the Bronx, where he earned the trust and confidence of clients while preparing their tax returns through Van Zandt Agency, eventually soliciting his clients to invest in the notes. It is believed that Van Zandt sold over $20 million worth of the notes.
On May 27, 2011, the Financial Industry Regulatory Authority (“FINRA”) initiated an examination of Van Zandt. However, Van Zandt told FINRA he was “not in a position to respond to [its] inquires,” thereby violating FINRA Rules 8210 and 2010. As a result, on August 10, 2011, Van Zandt signed an Acceptance, Waive & Consent (“AWC”) whereby he was prohibited from associating with any FINRA member firm in any and all capacities. Van Zandt is also under investigation by the New York State Attorney General’s Office.
From December 2004 through February 2007, Van Zandt was registered with MetLife Securities. Thereafter, he moved his securities license to the now defunct broker-dealer, GunnAllen Financial. In early 2010, Van Zandt jumped from JHS Capital Advisors, Inc. to The Investment Center, and then back to JHS Capital Advisors, all within just three months. Under FINRA Rules, MetLife Securities, JHS Capital Advisors and The Investment Center were obligated to properly supervise the practices and activities of Van Zandt during the time that he was registered with these firms. Accordingly, these brokerage firms may be liable for failing to supervise Van Zandt’s activities during his tenure at these firms, and could potentially be responsible for compensating investors who lost money investing with Van Zandt.
Investors who held accounts with Robert Van Zandt and MetLife Securities, JHS Capital Advisors or The Investment Center can contact KlaymanToskes to explore their legal rights and options.
If you sustained losses of $100,000 or more by investing with Robert Van Zandt, please contact our firm.