What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: October 27, 2016

A Securities and Exchange Commission (SEC) 2015 complaint announced fraud charges and an asset freeze to halt an ongoing real estate investment scheme being conducted by Paul Ricky Mata, David Kayatta and Mario Pincheira, three California investment advisers. Allegedly, the three men raised over $14 million from over 100 investors from California and other states by soliciting investments in Secured Capital Investments LLC and Logos Real Estate Holdings. The men used online videos, investments seminars promising “Indestructible Wealth,” and presentations to church groups promising “Finances God’s Way.” Many of the investors were elderly retirees.

According to his online Financial Industry Regulatory Authority (FINRA) BrokerCheck report, Mata was registered with IDS Life Insurance Company in Minneapolis, Minnesota from February 2000 until July 2006 and Ameriprise Financial Services in Rancho Cucamonga, California from February 1988 until April 2009. He has eight customer disputes against him, two of which are currently pending. He is not licensed within the industry and the SEC permanently barred him from acting as a broker or investment adviser, or otherwise associating with firms that sell securities or provide investment advice to the public.

If you lost money with Paul Mata, Ameriprise may be responsible for your losses. The firm had a duty to reasonably supervise him while he was registered with them. Please call our securities law offices at 312-332-4200 to speak to an attorney for free today. There is no obligation.

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