NEW YORK, NY, USA, December 21, 2023 /EINPresswire.com/ — National investment loss attorneys KlaymanToskes issues an important notice to customers of financial advisor Gilbert Russell Conrad and encourages all current and former customers who suffered investment losses to contact the firm immediately at 888-997-9956.
KlaymanToskes reports that the firm has filed another FINRA arbitration claim (no. 23-03595) against broker/investment advisor Gilbert Russell Conrad (CRD# 2746778) on behalf of a retired investor who is seeking to recover up to $1,500,000 in connection with being recommended to invest in illiquid Alternative Investments.
According to the claim, Conrad concentrated the investor’s funds in various private placement investments that were high-risk and lacked liquidity, against the customer’s needs and best interest. Conrad allegedly recommended that the customer invest in Alternative Investments that included New York REIT I and II, Hospitality Investors Trust, Inc. (formerly, American Realty Capital REIT), and Business Development Company.
While the customer made several inquiries relating to the risks of the Alternative Investments, Conrad continually assured her that there was no market risk, as the investments did not correlate with the stock market. Conrad misrepresented the risks associated with the Alternative Investments and failed to disclose the true risk characteristics of the investments to the customer.
Gilbert Russell Conrad was previously licensed as a financial advisor with J.P. Turner and Summit Brokerage Services, which were acquired by Cetera. Conrad was also previously registered with Independent Financial Group and Arkadios Capital in Lewiston, NY, and is currently registered as a broker with Coastal Equities.
Customers of Gilbert Rusell Conrad who suffered investment losses are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lawrence@klaymantoskes.com for a free and confidential consultation to discuss legal options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
Lawrence L. Klayman, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
lawrence@klaymantoskes.com