Great Point Capital LLC Broker Joseph Kocsis Under Investigation for Investment Losses

Sonn Law Group is currently investigating potential legal claims involving Joseph Kocsis (CRD# 2423884), a registered broker with Great Point Capital LLC.

According to his FINRA CRD report, Mr. Kocsis has been the subject of multiple customer disputes involving high-value real estate investments. Joseph Kocsis has been registered with Great Point Capital LLC in Chicago, Illinois, since 2019. Previously, he was registered with National Securities Corporation in New York from 2013 to 2019.

Recent Customer Complaints and Settlements

Mr. Kocsis’s record reflects two significant settlements reached in February 2023 related to activities while he was registered with Great Point Capital LLC:

• Settlement Amount: $582,723.97 In this matter, claimants alleged that specific investments made in 2019 and 2020—specifically Section 1031 Exchanges—were unsuitable. The claim further alleged that the risks of these investments were not adequately revealed despite written disclosures. Additionally, the complaint cited a lack of supervision and a failure to perform due diligence by the broker-dealer.
• Settlement Amount: $70,000 This dispute involved replacement property as part of a Section 1031 Exchange. The customers alleged that the investments were unsuitable and lacked a reasonable basis for recommendation. The claim also included allegations of omissions, misstatements of fact, misrepresentation, and breach of contract. The investors originally sought $250,000 in damages.

Broker-Dealer Liability and FINRA Rules

Under FINRA Rules, brokerage firms like Great Point Capital LLC have a legal duty to supervise the actions of their registered representatives. If a firm fails to properly oversee a broker’s recommendations or fails to perform adequate due diligence on complex products like Section 1031 Exchanges, the firm may be held liable for the resulting investor losses.

What You Should Know About Section 1031 Exchanges

Section 1031 Exchanges are often marketed as tax-efficient “replacement properties,” but they can be incredibly complex and carry significant risks that are not always suitable for every investor. If you were recommended these products without a full understanding of the risks, you may be eligible for recovery.

Speak with an Experienced Securities Attorney

Sonn Law Group represents investors nationwide on a contingency fee basis. This means you pay nothing upfront, and we only receive a fee if we successfully recover money for you.

If you suffered losses while investing with Joseph Kocsis or Great Point Capital LLC, we are here to help you review your legal options.

Contact Sonn Law Group Today
Phone: 833-912-3000
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