Rusty Tweed allegedly misrepresented investments and recommended unsuitable investments, based on a client dispute filed in August of 2019.
The Sonn Law Group is investigating allegations that Rusty Tweed misrepresented invesments. Under FINRA Rules, brokerage firms are liable for their brokers’ misconduct or negligence and investors may be able to their investment through FINRA arbitration. Contact Sonn Law Group today or call us at 866–827–3202 for a free consultation.
Robert Russel Tweed (“Rusty Tweed”)(CRD#:2339324) is currently involved in several customer disputes according to his BrokerCheck report. Most recently in August of 2018, a client filed a dispute against Tweed for alleged misrepresentation and recommending unsuitable investments. The client is seeking over $1.4 million. The dispute is still pending.
Additionally, another claimant brought a dispute against Tweed in May of 2019 for recommending unsuitable investments. One year prior in May 2018, a client brought a dispute against Tweed alleging poor performance and misrepresentation.
The SEC filed fraud charges against Tweed and Tweed Financial Services on October 2, 2017 based on allegations that Tweed and his company had solicited investors to contribute substantial investments to funds run by friends of Tweed. Additionally, the SEC alleged that Tweed lied to investors upon realizing that the funds were unprofitable. He allegedly was aware that the manager of Quantitative Analytics Master Fund (QAMF) had been indicted for fraud, but failed to disclose this information. Instead, Tweed allegedly falsified quarterly statements to investors claiming flat or positive returns. The civil matter is still pending.
In April 2017, FINRA filed a complaint against Tweed based on allegations that Tweed had obtained more than $1.6 million from his clients through a false and misleading private placement memorandum he used to offer and sell interests in a pooled investment fund that he both created and controlled. This regulatory action is currently on appeal.
Tweed has other disclosures on his report spanning back to 2003.
- July 16, 2012 — Claimant alleged unsuitable investments, breach of contract, fraud, breach of fiduciary duty, and negligence. (Claimant received $156, 250)
- May 25, 2012 — Claimant alleged fraudulent misrepresentation, fraudulent concealment/omission, failure to supervise, breach of fiduciary duty, and breach of implied covenant of good faith and fair dealing. (Settled for $338,000)
- June 28, 2011 — Claimant alleged breach of fiduciary duty, misrepresentation, and sale of unregistered securities under California blue sky laws. (Settled for $17,500)
In addition to his work with Cabot Lodge Securities, LLC, over his 26-year career Rusty Tweed has worked for 10 firms:
- Concorde Investment Services, LLC
- CapWest Securities, Inc. of San Merino, California
- MAM Securities, LLC of Sherman Oaks, California
- United Securities Alliance, Inc. of San Marino, California
- National Planning Corporation of Los Angeles, California
- InterSecurities, Inc. of St. Petersburg, Florida
- Laguna Securities, Inc. of Newport Beach, California
- Wealth Resource Capital Corporation of Newport Beach, California
- Securities America, Inc. of La Vista, Nebraska
Jeffrey R. Sonn is an experienced investor losses attorney. If you suffered losses because a financial professional committed acts in violation of FINRA Rules, Mr. Sonn will protect your rights and interests. Please do not hesitate to contact the Sonn Law Group today for a free review of your claim.