Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Investigation Of Dennis Van Patter And VSR Financial

The White Law Group continues to investigate VSR Financial Advisor Dennis Van Patter. If you have suffered investment losses, securities attorneys of The White Law Group may be able to help.

VSR has a history of sales of alternative investments such as non-traded REITs, equipment leasing programs, oil & gas drilling programs, promissory notes and commodity funds. In 2013, VSR was sanctioned by FINRA in regards to the sale of alternative investments. VSR paid a fine of $550,000.

The White Law Group is still investigating claims that Van Patter and VSR over-concentrated investors in high-risk direct participation programs like oil and gas limited partnerships, equipment leasing funds, non-traded REITs, and other Reg D private placements.

Van Patter recently signed a Letter of Acceptance, Waiver, and Consent (AWC) to resolve allegations that he violated numerous NASD and FINRA rules by recommending investments that were not suitable for his customer. According to the AWC, while associated with VSR Financial Services, he allegedly recommended that a retired customer invest over $1.6 million in alternative investments such as REITs, note programs, oil & gas drilling partnerships and private placements. According to his FINRA BrokerCheck, Dennis Van Patter has also been the subject of at least 8 other customer disputes:

-a customer alleged that Dennis Van Patter breached his fiduciary duty, violated Texas securities law, and made unsuitable investment recommendations.

-a customer alleged that Dennis Van Patter recommended unsuitable investments, negligently misrepresented material facts, breached his fiduciary duty, and acted negligently.

-a customer alleged that Dennis Van Patter misrepresented material facts, acted negligently, and breached his fiduciary. The customer also alleged that the investments involved were variable annuities, direct investments (DPS) and LPs, equipment leasing funds, oil and gas investments, mutual funds, promissory notes, real estate securities and gold.

-a customer alleged that Dennis Van Patter made unsuitable investment recommendations.

-a customer alleged that Dennis Van Patter executed excessive trades, made unsuitable investment recommendations, and executed unauthorized trades in a trust account.

-a customer alleged that Dennis Van Patter refused to sell certain direct participation programs (DPP) in a secondary market.

-a customer alleged that Van Patter told her that her $5,000 investment would be worth approximately $40,000 in 2014 and there was a loss of growth.

For more information on this investigation see FINRA Arbitration Filed Against VSR Financial Over Alternative Investment Losses.

If you suffered losses investing with VSR Financial and Dennis Van Patter and would like to discuss your litigation options, please call the securities attorneys of The White Law Group at 1-888-637-5510 for a free consultation.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on the firm, visit http://www.whitesecuritieslaw.com.

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