Last Updated: January 2024 (Portland, OR)
Thomas Hamlin Investigation Summary
Here’s what you need to know about Portland, OR, stockbroker Thomas Hamlin:
- Name: Mr. Thomas Burgess Hamlin
- Current Employer: Somerset Securities, Somerset Wealth Management (RIA)
- DBA: Hamlin Financial, Somerset Wealth Strategies
- Previous Firms: Raymond James Financial Services
- Function: Stock Broker/ Financial Advisor
- Aliases: Thomas Hamlin
- Primary Location: Portland, OR
- CRD 2208505
- Can Thomas Hamlin be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Discharged by a prior broker-dealer: Yes
- Five Pending Customer Disputes Seek Total Damages of $1.8 Million
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Thomas Hamlin As Your Stockbroker?
In 2023 five customers of Somerset Securities filed FINRA arbitrations alleging that Thomas Hamlin recommended investments in a private placement, iCap Equities, a company that filed for bankruptcy in 9/2023. Total damages sought in the five FINRA arbitrations is about $1.8 million. These cases are currently pending.
See this for more information on REITs and Other Alternative Investments
Allegations of Broker Misconduct Against Thomas Hamlin
Customers of Thomas Hamlin have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendations to invest in iCap Fund
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk. For more investigations involving Alternative Investments, see this.
iCap Enterprises Files for Bankruptcy
iCap Equity is a Regulation D private placement that is not required to be registered with the U.S. Securities and Exchange Commission. Reg D private placements are generally not suitable for unsophisticated or conservative investors. In September 2023 iCap Enterprises, and the funds listed below, filed for Chapter 11 Bankruptcy protection in the District Court in and for the Eastern District of Washington.
ICap Companies:
- 725 Broadway LLC
- ICap@UW LLC
- iCap Broadway LLC
- iCap Campbell Way LLC
- iCap Enterprises Inc. formerly, Altius Development
- iCap Equity LLC
- iCap Funding LLC
- iCap Investments LLC
- iCap Management LLC
- iCap Northwest Opportunity Fund LLC
- iCap Pacific Income 4 Fund LLC
- iCap Pacific Income 5 Fund LLC
- iCap Pacific Northwest Opportunity and Income Fund LLC
- iCap Pacific NW Management LLC
- iCap Realty LLC
- iCap Vault LLC
- iCap Vault Management LLC
- iCap Vault I LLC
- Senza Kenmore LLC
- UW 17th Ave LLC
- Vault Holding I LLC
- VH 1121 14th LLC
- VH 2nd Street Office LLC
- VH Pioneer Village LLC
- VH Senior Care LLC
- VH Willows Townhomes LLC
Investors who purchased any of the iCap funds through a brokerage firm or financial professional can seek recovery of losses by pursuing the claim in FINRA arbitration.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Thomas Hamlin , or if you have losses on any of the iCap family of funds, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
