Broker Scott Jason Lee, formerly registered with Ausdal Financial in Cold Spring, MN, is subject to multiple customer dispute disclosures alleging suitability, negligence, 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 former broker Scott Lee’s customer dispute disclosures. Investors who are concerned about their investments with Scott Lee 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 website.
Lee’s Brokercheck Reveals Multiple Customer Dispute Disclosures
Dated June 2023, a customer dispute disclosure is alleging suitability/negligence in connection with debt-corporate investments. The disclosure further indicates the employing firm when the allegations occurred was Moloney Securities Co. Inc. and the customer is reportedly requesting $500,000 in alleged damages (Case #: 23-01588).
Two customer dispute disclosures were reportedly received in April 2023 and make similar allegations. One disclosure dated April 3rd alleged suitability and negligence and the claimant requested $150,000 in alleged damages (Case #: 23-00744). The second customer dispute disclosure was allegedly made on April 10th and the customer alleged $103,000 in damages (Case #: Case #: 23-00821).
According to Scott Lee’s Brokercheck report, a customer dispute disclosure was reportedly filed in October of 2022, and alleged failure to supervise, breach of fiduciary duty, and unsuitable investments in connection with GWG L Bonds investments (Case #: 22-02241). The customer requested $350,000 in alleged damages and reportedly settled for $250,000.
A customer dispute disclosure dated April 12th, 2022, alleged suitability, breach of duty, and due diligence (Case # 22-02001). The dispute reportedly involves investments in GWG Holdings, and ProCaccianti Hotel REIT, among others, and the customer is reportedly seeking $170,000 for alleged damages.
Broker Scott Lee was reportedly subject to a customer dispute disclosure filed in August of 2022 (Case #: 22-01756). The claimant alleged unsuitable recommendations and requested $260,000 in alleged damages.
In February 2021, another customer dispute disclosure was allegedly filed, making similar allegations of unsuitability. The customer reportedly sought $82,000 for alleged damages and accepted $32,800 to settle the matter, the Brokercheck Report shows.
Concerned about investments with
Scott Lee Had Been a Registered Broker Since 2001
According to his Brokercheck, Scott Lee most recently was registered as a broker with Ausdal Financial Partners, Inc., located in Cold Spring, Minnesota, from 2019 to 2021. Lee reportedly served as a broker with Moloney Securities Co., Inc., in its Cold Spring, Minnesota office, from 2016 to 2019.
From 2016 to 2016, Lee allegedly was a broker with Cambridge Investment Research, Inc., based in St. Cloud, Minnesota. Lee reportedly was employed as a broker with Dougherty & Company LLC, in St. Cloud, Minnesota, from 2014 to 2015.
Potential Compensation Claims for Concerned Lee 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 previously registered broker and investment adviser Scott Lee’s customer dispute disclosures alleging negligence, unsuitability, and breach of fiduciary duty, 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 obtained for clients. Attorney Alan Rosca, an investment loss lawyer and former adjunct professor of securities regulation, has over 14 years of experience representing investors who have experienced investment loss due to broker misconduct.
Investors who are concerned about their investments with Scott Lee 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 website.
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 Scott J. Lee, 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.
