The law firm of Oakes & Fosher is currently investigating the possible misconduct of former securities broker Jonathan Freeze. According to his publicly available FINRA BrokerCheck report, Jonathan Freeze has been the subject of multiple customer disputes.
Jonathan Freeze operated most recently as a Pennsylvania based securities broker. He worked in the securities industry for twenty-one years. During his career, he was registered with four different securities firms.
His Registrations
- Lincoln Financial Advisors Corporation (1995-2009)
- LPL Financial (2009-2013)
- Summit Brokerage Services (2013-2015)
- Fortune Financial Services (2015-2017)
The Allegations
Jonathan Freeze was the subject of multiple customer disputes that were filed between 2017 and 2019. These complaints were from customers alleging that Jonathan Freeze invested them in Alternative Energy Holdings. This was a Regulation D investment which was a private security outside the scope of his member firm. All of these complaints are currently pending. The customers are seeking a total of $1,262,500 in damages.
Private Placements
Privately traded securities, also known as private placements, are unregistered securities that are not sold on any publicly securities exchanges. Because they are not registered with the Securities and Exchange Commission, there is a great potential for oversight that occurs when dealing in these products.
The truth is that private placements are incredibly risky and illiquid securities that are only suitable for a select group of “accredited” investors–which is an individual with a net worth of $1 million, or an annual income of $200,000.
Despite their rampant unsuitability, many securities brokers, like Jonathan Freeze continue to push these products on unsuspecting investors because of the incredibly high commissions they receive when doing so. Securities brokers can receive a commission as high as 8 percent when selling a private placement. When an investor’s principal is lowered this substantially, it becomes almost impossible for them to see a profit under anything other than booming market conditions.
Oakes & Fosher Can Help
Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Jonathan Freeze, please contact Oakes & Fosher for a free and private consultation.
