Stoltmann Law Offices is investigating Gary Arford, who was accused by the Securities and Exchange Commission (SEC) of making misrepresentations in connection with a private fund that he managed, and making misrepresentations about investments in hotels in the Seattle are. Allegedly, between December 2010 and October 2013, Arford managed a private fund in the Seattle, Washington area. He claimed to invest in real estate ventures. He allegedly defrauded investors in his fund by recommending they invest $4 million in an undeveloped Seattle hotel by misrepresenting the hotel’s debt and encumbrances on the property, by taking possession of the undeveloped land to use for collateral on personal loans, by hiding information regarding the use of the fund’s assets and status of the hotel’s development and misappropriating the fund’s assets.
Arford was registered with the following firms: CUNA Brokerage Services, Allmerica Investments, IDS Life Insurance Company, American Express, Raymond James, Commonwealth Financial Network, Geneos Wealth Management and Independent Financial Group in Lynnwood, Washington from November 2013 until March 2014. He has 10 customer disputes against him, four of which are currently pending.
The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.