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WealthForge Securities (CCO) James Leroy Raper Jr. : $6M in Investor Complaints

February 13, 2023

Red Flags at WealthForge Securities’ Richmond, VA Branch

National investment fraud lawyers KlaymanToskes is investigating WealthForge Securities CCO James Leroy Raper Jr. (CRD# 5721253) after the Richmond, Virginia-based broker received two investor complaints alleging over $6 million in collective damages.

According to FINRA BrokerCheck, Raper has two disclosed investor complaints, both filed on January 9th, 2023. One investor complaint alleges damages of $4,108,931.83, while the other alleges damages of $2,523,243.13.

Both complaints allege the following securities violations:

  • Failure to conduct reasonable due diligence,
  • Negligence,
  • Failure to make material disclosures,
  • Failure to conduct suitability,
  • Failure to supervise,
  • Misrepresentation and omissions,
  • Breach of contract, and
  • Breach of fiduciary duty.

Who Is James (a/k/a) Jim Leroy Raper Jr.?

James Raper

James (a/k/a) Jim Leroy Raper Jr. (CRD# 5721253)

  • Raper currently serves as WealthForge Securities’ Chief Compliance Officer (“CCO”) and has been registered with the firm since 2014 in Richmond, VA.
  • Raper’s previous registrations include Transact Capital Securities, LLC from 2009 to 2015 in Richmond, VA.
  • Raper holds 13 years of securities industry experience and 53 state licenses

Broker Alert: Red Flags at WealthForge Securities’ Richmond, VA Branch

The following is a list of financial professionals who are currently, or have previously been, registered with WealthForge Securities’ Richmond, VA branch (located at …) with significant public disclosures and customer complaints according to their linked FINRA BrokerCheck profiles:

Christopher L. Most (CRD# 3270353)
⇒ Currently not registered; Registered with WealthForge in 2018

  • 3 public disclosures:
    1. Investor Complaint: Investor alleged that the investments recommended to him were misrepresented to him and unsuitable for him.
    (Award/judgment: $430,000) 

    2. Civil judgment/lien: $399,826.003. Civil judgment/lien: $19,279.00

Paul R. Pfeifer (CRD# 4670896)
⇒ Currently not registered; Registered with WealthForge in 2017

  • 2 public disclosures:
    1. Financial: Bankruptcy2. Investor Complaint: Investor alleged pfeifer failed to use reasonable diligence in executing a transaction that resulted in a lost opportunity.

Marc Gaydos (CRD# 4692323)
⇒ Currently not registered; Registered with WealthForge in 2019 and with J. Alden in 2020

    • 2 public disclosures:
      1. Financial Compromise
      2. Not Investment-Related

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

KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com