The Woodlands, Texas
UPDATE April 2018–Charles Geraci , is the subject of two customer suits seeking $1.4M in damages and is no longer registered with VSR FInancial Services. See this for details.
Original Post -February 2016—-Rex Securities Law is investigating VSR Financial Services broker Charles Geraci in connection with the sale of various direct investments including real estate securities, equipment leasing investments, promissory notes and limited partnership interests.
According to FINRA records in 2014 Geraci has been named in 5 customer complaints. Three have been settled, one is pending and one was closed- no action.
According to FINRA records Geraci was registered with VSR Financial Services from 6/2008-1/2013. He left VSR and joined Sagepoint Financial from 1/2013-12/2013. In 1/2014 he rejoined VSR Financial.
VSR Financial Services was fined $550,000 by the Financial Industry Regulatory Authority (FINRA) in May 2013 in connection with the sale of alternative investments. In their findings, FINRA criticised VSR Financial for recommending high concentration levels of alternative investments in customer accounts and for its lack of supervision over the use of consolidated reports prepared by brokers and provided to customers.
Alternative investments include non publicly traded real estate investment trusts (REITS) , hedge funds, real estate, commodities and derivatives contracts and, managed futures. It may also include art, wine, antiques, coins or stamps. These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.
If you have losses in an account with VSR Financial Services, contact us to discuss how you may be able to recover damages for those losses .
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Florida-561 391 1900