Conrad Coggeshall, a previously registered broker and previously registered investment adviser, was reportedly barred by the Financial Industry Regulatory Authority (FINRA) for refusal to respond to the request for information, according to an investigation by investment loss attorney, Alan Rosca.
Investment loss attorneys of the Rosca Scarlato LLC law firm including Alan Rosca, are investigating conduct related to the bar of Conrad Coggeshall by FINRA on the refusal to respond to the request of information which was a violation of FINRA rules among others.
Conrad Coggeshall, prior to the bar, was last in the employment of Packerland Brokerage Services. He was in the employment of the Arizona based FINRA member firm between June 2015 and January 2018.
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Conrad Aaron Coggeshall Was Barred for Failure to Respond to FINRA’s Request
Publicly available information reviewed by the investment fraud attorneys shows that Conrad Aaron Coggeshall was the subject of a regulatory action instituted by FINRA leading to his bar as reported on his FINRA Brokercheck page.
As reported on Conrad Coggeshall’s reports, the previously registered broker was barred by FINRA in all capacities on 4th May, 2020. The bar was on the allegation that he failed to respond to the regulatory authority’s request for information in respect of an investigation against him.
According to the reports, Conrad Coggeshall was issued two letters; FINRA’s Notice of Suspension and Suspension from Association, on May 4, 2020 and May, 28 2020 respectively prior to his bar from the association.
Conrad Aaron Coggeshall allegedly failed to respond to the letters and request the termination of his suspension. Owing from this and pursuant to FINRA Rule 9552(h), Conrad Coggeshall was barred indefinitely in all capacities starting from 7th August 2020.
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Conrad Aaron Coggeshall was Named Defendant in a SEC Complaint
The publicly-available information reviewed by the investment fraud attorneys also reveals that Conrad Coggeshall was named defendant to a complaint filed by the United States Securities and Exchange Commission (SEC) in the United States District Court of the District of Arizona.
According to the complaint, SEC alleges that the previously registered investment adviser was involved in a fraudulent scheme as a financial advisor to defraud several elderly investors of their retirement savings.
It was also alleged that Conrad Coggeshall raised about $700,000 from four elderly investors including three married couples.
Conrad Coggeshall allegedly made representations to the investors that they were investing in BOTR LLC; a successful mergers and acquisition firm in New York and that the investments were safe and secure. It was further alleged that the representation was false as BOTR is an Arizona based company owned by Coggeshall and the company does not engage in mergers and acquisition. As contained in the complaints, Conrad Coggeshall allegedly used the investor’s fund to trade securities; which he incurred significant losses and to pay personal expenses.
According to the complaint, the barred broker allegedly made some payments to the investors which he claimed to be interests from the New York based Mergers and Acquisition firm but this is allegedly not true. The SEC has filed this complaint against him on the allegation that his actions have violated Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act 1934 among others.
Owing from this, SEC is seeking an order from the court enjoining Conrad Coggeshall from all violations, requiring him to pay disgorgements and significant civil penalties. The SEC is also seeking an order to hold the Arizona based BOTR liable for the illegal transfer of funds among others.
Customer Dispute Disclosure Alleges Fraudulent and Unsuitable Investments
According to Coggeshall’s Brokercheck Report, in July 2020 a customer filed a FINRA complaint alleging fraudulent and unsuitable investments while Conrad A. Coggeshall was registered with Cetera Advisor Networks and Packerland Brokerage Services. The customer is requesting $1,812,600 in alleged damages.
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.
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Concerned Conrad Coggeshall Might Have Options
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating conduct related to Conrad Aaron Coggeshall’s bar by FINRA for non-compliance with the request for information.
The firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of conducts related to Conrad Aaron Coggeshall’s bar by FINRA for non-compliance with the request for information, may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.