What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: July 26, 2016

Stoltmann Law Offices is investigating David O. Braeger, a former registered representative with Newport Coast Securities in Irvine, California. The Financial Industry Regulatory Authority (FINRA) filed a complaint against him, alleging that he misappropriated or stole $30,000 from a couple. The couple gave Braeger the money in 2009 in order to invest in Rubicon Capital Appreciation Fund, a fund managed by Braeger. Braeger never invested the money in the fund, and told the couple that Rubicon was still an open fund, when, in fact, it wasn’t. Rubicon closed in 2010. This is against securities rules and regulations.

Braeger was previously registered with McLaughlin, Piven, Vogel Securities Inc., Painewebber Inc., Bear, Stearns & Co., Mesirow Financial, Everen Securities, Raymond James, Sanders Morris Harris, Legg Mason Wood Walker, AG Edwards & Sons, Delta Equity Services Corp, Brookstreet Securities Corp, Newport Coast Securities in Irvine, California from October 2008 until May 2012, Accelerated Capital Group, Arque Capital Ltd., and Midtown Partners in New York, New York from January 2014 until July 2014. He has one regulatory matter against him which is currently pending and is not licensed within the industry, according to his public, online FINRA BrokerCheck report.

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