Investors who purchased Commonwealth Income & Growth Funds may have claims against Commonwealth Capital Securities Corporation ("Commonwealth"). On May 3, 2013, FINRA filed a complaint against the CEO of Commonwealth alleging the misuse of investment funds totaling $344,798. FINRA alleged the CEO used the funds for personal loans, rental cars, home remodeling, and personal expenses.
Under FINRA rules and regulations, Commonwealth may be held liable for client losses if funds were misappropriated or used for purposes other than the funds stated objectives.
According to The Securities Law Firm of Menzer & Hill, P.A., if the allegations prove to be true, Investors have recourse to potentially recover their losses and/or principal investment by pursuing an arbitration through FINRA Dispute Resolution.