National investment loss lawyers KlaymanToskes is investigating broker Donald Wright (CRD# 5562960) of Retirement Specialty Group and formerly of Silver Oak Securities.
According to FINRA BrokerCheck, broker Donald Wright is currently involved in a civil complaint initiated by the Securities and Exchange Commission (“SEC”) alleging that he offered, and sold over $2.4 million in fraudulent promissory notes to at least five RSG (Retirement Speciality Group) advisory clients and at least one other person. The SEC alleges that from June 2021 to July 2023, Donald Anthony Wright and Retirement Specialty Group, Inc. (RSG) misrepresented the safety and purpose of the investments, and used the funds to pursue the acquisition of a faith-based media company. Wright further allegedly failed to disclose conflicts of interest, sold unauthorized and forged notes for personal benefit, and misled investors about the status and repayment of their investments.
Investors that suffered losses with broker Donald Wright are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Financial advisor Donald Wright, of Retirement Specialty Group and formerly of Silver Oak Securities, is currently facing allegations of fraud by the Securities and Exchange Commission (SEC). According to the SEC’s complaint, from June 2021 to July 2023, Wright and his firm Retirement Specialty Group, Inc. (RSG) allegedly sold over $2.4 million in fraudulent promissory notes to at least five RSG advisory clients and one additional investor. The SEC alleges that Wright misrepresented the nature, risk, and purpose of the investments, using the funds to pursue the acquisition of a faith-based media marketing company. To secure financing for this acquisition, Wright reportedly worked with entities that required upfront transfers of capital. Lacking the necessary funds, Wright generated the money by selling promissory notes, some of which were forged and unauthorized, without informing investors of their true purpose or risks. Additionally, Wright allegedly failed to disclose conflicts of interest, including his business relationships with the note issuers and his personal financial benefit from the transactions. The SEC alleges that Wright misled clients into believing that the investments were safe, and in some instances, falsely stated that he had personally invested his own money.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Donald Wright, or have concerns regarding your investment portfolio at Retirement Specialty Group, Silver Oak Securities, or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.