William Baumner, Broker with TradeSpot Markets, Named in Customer Disputes Alleging Unsuitable Investment Recommendations

Baumner has two pending customer disputes seeking over $100K in combined damages.

The Sonn Law Group is investigating allegations that William Baumner committed misconduct. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

William Baumner (CRD#: 2298690) is currently registered as a broker with TradeSport Markets, where he has been employed since April 2019. Previously, Baumner was registered as a broker with Buckman, Buckman & Reid from 2010 until 2017.

Baumner has 17 total disclosures on his BrokerCheck report, however one of his customer disputes was withdrawn, while three customer disputes were denied.

May 2020 Customer Dispute

• Status: Pending
• Allegations: Unsuitable investment recommendations, breach of regulatory requirements, negligence, breach of fiduciary duty, breach of contract, negligence, and gross negligence.
• Damage Amount Requested: $50,000.00
• Broker Comment: The client’s allegations are totally lacking in merit. 

May 2020 Customer Dispute

• Status: Pending
• Allegations: Unsuitable investment recommendations, breach of regulatory requirements, breach of fiduciary duty, breach of contract, negligence, and gross negligence.
• Damage Amount Requested: $67,000.00
• Broker Comment: The client’s allegations are totally lacking in merit. 

November 2019 Judgment / Lien

• Judgment / Lien Amount: $6,511.67
• Judgment / Lien Type: Tax
• Broker Comment: I just found out regarding the tax lien from attorney for taxes owed on income prior to my divorce. I am in contact with the  IRS and working on rectifying this ASAP.

March 2019 Customer Dispute

• Status: Pending
• Allegations: Unsuitable investment, breach of fiduciary duty, failure to disclose risks. High pressure sales May 2014
• Damage Amount Requested: $100,000.00

September 2018 Customer Dispute

• Status: Settled
• Allegations: Unsuitability private placement 2010
• Settlement Amount: $15,000.00

July 2018 Customer Dispute

• Status: Settled
• Allegations: Unsuitability for loss in account 2013-2015
• Damage Amount Requested: $5,000.00
• Settlement Amount: $15,000.00

September 2017 Customer Dispute

• Status: Settled
• Allegations: Suitability, poor recommendations 2012-2016
• Damage Amount Requested: $9,700.00
• Settlement Amount: $9,831.00
• May 2017 Employment Separation After Allegations
• Firm Name: Buchman Buchman & Reid
• Termination Type: Discharged
• Allegations: Did not follow firm policy on email correspondence with client
• Broker Comment: I was terminated from Buckman Buckman and Reid very abruptly one day by the compliance director for communicating with a person that had invested in a private placement with Buckman Buckman and Reid ( of which I did not get compensated on) but he was a friend of a friend and was threatening physical and legal action against members of the firm and I was trying to pacify and calm him down. He wrote me one day and I mistakenly responded to the email not thinking anything, because he wasn’t my client. The compliance officer who took over my office had terminated all of my partners and employees over the past 4 years and finally I was the last one to go. So now he has the office. And when I was terminated I was not allowed to take any of my furniture in the office which was all mine including the conference room table, a whiteboard presentation cabinet, conference room chairs, telephones, office supplies, computers, computer equipment ,book cases, file cabinets, in short (he or they) took everything. A firm that only cares about themselves, not the employees or people that work for them.

July 2015 Judgment / Lien

• Judgment / Lien Amount: $701.72
• Judgment / Lien Type: Tax
• Broker Comment: This was a federal tax lien filed by the IRS on July 29th 2015 in the amount of $701.72. It was filed in my name and my ex wife’s name. I am meeting with the Broward County Clerk’s Office in West Palm Beach shortly. I was not aware of this. 

March 2014 Customer Dispute

• Status: Settled
• Allegations: Suitability of investments made through four (4) broker-dealers between approximately 2006 and March 2010
• Damage Amount Requested: $350,000.00
• Settlement Amount: $15,000.00

November 2013 Customer Dispute

• Status: Pending
• Allegations: Manipulation, insider trading, breach of fiduciary duty. Feb. 2011.

September 2012 Customer Dispute

• Status: Settled
• Allegations: Unsuitable investments, losses. December 2008 through July 2012.
• Damage Amount Requested: $100,000.00
• Settlement Amount: $34,625.00

May 2009 Customer Dispute

• Status: Settled
• Allegations: Per statement of claim, claimants invested with a broker from Citigroup beginning in 2001. After sustaining market losses, claimants transferred their accounts to William Baumner and Investors Capital Corp. in 2008. Claimants allege that the investing strategy, which commenced at Citigroup and continued at Investors Capital Corp. was unsuitable and seek to recover their losses through this multi-respondent action.
• Damage Amount Requested: $100,000.00
• Settlement Amount: $34,000.00

May 1998 Customer Dispute

• Status: Settled
• Allegations: Failure to follow instructions
• Settlement Amount: $28,000.00
• Broker Comment: Settlement: $28,000. This claim was settled simply for financial reasons and should not be construed as an admittance of guilt.

Contact Us Today

The Sonn Law Group is currently investigating allegations that William Baumner recommended unsuitable investments. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.