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Soreide Law Group, PLLC, is a securities litigation firm that is committed to helping victims recover financial losses due to fraudulent or negligent conduct on behalf of stock brokers or financial advisors. We are able to represent investors nationwide in the handling of their securities... More
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  • FINRA Investigating Tony Thompson For Failure To Turn Over Documents 0 comments
    Mar 13, 2013 11:09 AM

    FINRA, the Financial Industry Regulatory Authority Inc., reported that it is investigating Tony Thompson and his broker/dealer, TNP Securities LLC, for failing to turn over documents to FINRA.

    By allegedly failing to turn over documents to FINRA both personally on his business, Thompson violates industry rules that require firms and individuals to produce information when asked by FINRA. FINRA's BrokerCheck also lists allegedly breaking it's rules requiring high standards of commercial conduct and fair principles of trade.

    Tony Thompson is currently facing significant financial problems, most notably the default on $21.5 million of private notes he sold in 2008 and 2009 to raise money for his latest venture, Thompson National Properties LLC.

    Soreide Law Group wrote in August, 2012, on it's website blog, that "according to the SEC, TNP 12 Percent Notes Program raised $21.5 million from 418 investors in 2008 and 2009. Many of the investors in these notes were conservative investors, living on fixed incomes, elderly or retired, and could not afford risky investments."

    Also, listed on FINRA's BrokerCheck, it was reported that in January FINRA made inquiries regarding the documents. At that time, Mr. Thompson was attempting to boost sales for a nontraded real estate investment trust (nontraded REITs), the $272 million TNP Strategic Retail Trust Inc.

    Tony Thompson, is CEO of Thompson National Properties, which began in 2008. He earlier founded Triple Net Properties LLC, which sold real estate investments called tenant-in-common exchanges, or TICs, sold through independent broker-dealers.

    If you invested with Tony Thompson, TNP 12 Percent Notes Program, LLC, issued by Thompson National Properties LLC, TNP Securities, or TNP Strategic Retail Trust, Inc., you may be able to recover your losses. Call Securities Lawyer, Lars Soreide, of Soreide Law Group, for a free consultation at 888-760-6552, or visit our website and complete our online form at: www.securitieslawyer.com.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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