Ryan N. Bowers entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). Stoltmann Law Offices is investigating Bowers because of allegations by FINRA. The regulatory authority alleged that between January and October 2013, Bowers failed to provide updated information regarding two private equity funds to his firm, WFG Investments. Subsequently, a custodian produced account statements that falsely reported investor positions in the investment, saying their positions were unchanged, when, in reality, they had declined. Bowers was the Chief Executive Officer of an registered investment advisor (RIA) during the time he was associated with WFG. Allegedly, from 2007 until 2011, one of his funds raised $9 million in cash and securities from 64 investors. Another fund raised $13 million in cash and securities from 69 investors. Both of the funds invested in private securities and had a high degree of risk and speculation. FINRA alleged that between January and October 2013, the RIA’s under Bowers’ management the value of the investor’s positions declined. For these transgressions, Bowers was fined $25,000 and sanctioned. He was also suspended from FINRA for a period of five months.
Bowers was registered with The Advisors Group in Bethesda, Maryland from August 1989 until September 2002, Securities America Inc. in Scottsdale, Arizona from September 2002 until February 2007, and WFG Investments in San Diego, California from March 2009 until October 2013. He is not currently registered with any FINRA member firm. If you invested money with Ryan N. Bowers, please call our securities law firm at 312-332-4200 to speak with an attorney. The call is free with no obligation. His former firm, WFG Investments, may be liable for investment losses because of their inability to supervise him while he was employed there. We sue firms in the FINRA arbitration process to recover money for investors who have suffered financial losses.
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