National investment loss lawyers KlaymanToskes is investigating Scott Trease of Sapere Wealth Creation, LLC (CRD #1298222).
Former Sapere Wealth Creation, LLC broker Scott Trease is currently under investigation by the United States Securities and Exchange Commission for recommending risky alternative-investment deals to three clients, resulting in significant investment losses, and has been sanctioned with a civil and administrative penalty and fine, with a customer awarded $100,000 in damages for breach of fiduciary duty.
Investors that suffered losses with Scott Trease (Sapere Wealth Creation, LLC) are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at lawrence@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Scott Trease, a former broker at Sapere Wealth Creation, LLC, is facing accusations related to investment losses linked to alternative investments. Trease was registered with the North Carolina-based firm from 2003 to 2010.
In March 2023, the United States Securities And Exchange Commission (SEC) initiated an investigation against Sapere Wealth Management, LLC and Trease. The SEC imposed a civil and administrative penalty and fine on Trease following allegations that he recommended three advisory clients to invest a total of $7.3 million in two risky, alternative-investment deals. The defendants believed these deals were backed by a gold safekeeping receipt (SKR), which turned out to be incorrect.
The complaint filed against Trease and Sapere states that between 2018 and early 2019, they were presented with numerous investment opportunities by a self-proclaimed financier. These opportunities consistently fell apart, raising red flags about the suitability of these alternative-investment opportunities for the defendants’ advisory clients. The complaint further alleges that Trease and Sapere did not have a reasonable understanding of these investments and thus lacked a reasonable basis to recommend them to their clients.
The SEC also reported that another customer invested $5 million without a reasonable understanding of the investment, despite red flags suggesting the investment might not be suitable. Trease has been the subject of one customer complaint, which resulted in a breach of fiduciary duty allegation. Trease and Sapere entered into Consent Agreements with the SEC, resolving the civil matter. Without admitting or denying the allegation, Trease consented to a final judgment permanently restraining and enjoining violation of fiduciary duty. He agreed to pay a civil penalty of $100,000. The customer was awarded $100,000 in damages.
Former Sapere Wealth Creation, LLC broker Scott Trease (CRD# 1298222) is accused of investment losses related to alternative investments. He was registered with Sapere Wealth Creation, LLC in Matthews, North Carolina, from 2003 to 2010. In March 2023, the United States Securities And Exchange Commission (SEC) opened an investigation against Sapere Wealth Management, LLC and Scott Trease and sanctioned him to a civil and administrative penalty and fine following allegations that he recommended that three of their advisory clients invest a total of $7.3 million in two risky, alternative-investment deals that Defendants incorrectly believed were collateralized by a gold safekeeping receipt (SKR).
As an investor, there are a few signs that you should look out for if you believe you may have a claim against Scott Trease. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encourage 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 Scott Trease, or have concerns regarding your investment portfolio at Sapere Wealth Creation, LLC, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.