David Bruce McMillen, a currently registered broker and investment adviser, is subject to multiple customer dispute disclosures alleging lack of suitability and breach of fiduciary duty, among others, according to his Brokercheck Report.
Rosca Scarlato LLC attorney Alan Rosca and his colleagues are investigating the circumstances surrounding McMillen’s customer dispute disclosures. Investors who are concerned about their investments with David McMillen may contact Alan Rosca for a free case evaluation or to provide any helpful information by calling 888-998-0530 toll free, emailing arosca@rscounsel.law, or through the contact form found on our webpage.
McMillen Is Subject to Several Customer Dispute Disclosures
A customer dispute disclosure was reportedly disclosed on McMillen’s Brokercheck in April 2023 (Case #: 23-00698). The customer alleged negligence, lack of suitability, and breach of fiduciary duty in connection with alternative investments and reportedly requested $125,000 in alleged damages.
McMillen was allegedly subject to a customer dispute disclosure processed in March 2018, which alleged unsuitable and illiquid investments (Case #: 18-00929). The customer reportedly accepted $250,000 to settle this matter.
Another customer dispute disclosure was reportedly disclosed in December 2017 (Case #: 18-00722). The customer alleged illiquid investments and that their investments’ value could not be ascertained. The customer reportedly requested $20,000,000 in alleged damages and the dispute settled for $1,500,000.
Concerned about investments with
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any Brokercheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog and are the governing materials in case of any inconsistencies or typos in this blog. Readers should note that sometimes brokers may be able to expunge past customer complaints from their Brokercheck record, such that complaints referenced as of the date of this blog may not necessarily be reflected in future versions of the Brokercheck record. While the customer complaints mentioned in the Brokercheck report allege misconduct by David B. McMillen, the Brokercheck report does not appear to indicate whether he was a named party to those customer complaints, or the customers took action solely against the broker-dealer firm(s) that employed him at the time of the alleged conduct. Readers interested to learn more are encouraged to read the Brokercheck report or contact the Rosca Scarlato investor lawyers.
McMillen’s Debt Compromise Plan
In October of 2015, a law firm agreed to provide McMillen a compromise payment plan for his legal debts. According to his Brokercheck, McMillen was required to pay $2,190.73 to the law firm every month for five years.
David McMillen Has Been a Registered Broker Since 1983
According to his Brokercheck, David McMillen has been registered as a broker and investment adviser with Crown Capital Securities, L.P, located in Boulder, Colorado, since 2003. From 2000 to 2003, McMillen reportedly served as a broker with Multi-Financial Securities Corporation, based in both Englewood and Greenwood Village, Colorado.
Potential Compensation May Be Available for Concerned Investors
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating circumstances surrounding currently registered broker and investment adviser David McMillen’s customer dispute disclosures alleging lack of suitability and illiquid investments, among others.
Rosca Scarlato LLC law firm typically represents clients on a contingency fee basis. This means that it advances the case costs and expenses, and fees are only paid from any compensation retrieved for clients. Attorney Alan Rosca, an investment lawyer and former adjunct professor of securities regulation, has over 14 years of experience representing investors in cases alleging broker misconduct.
Investors who are concerned about their investments with David McMillen may contact attorney Alan Rosca for a free no-obligation consultation by calling toll-free 888-998-0530, via email at arosca@rscounsel.law, or through the contact form provided on our webpage.
