Stoltmann Law Offices is investigating Robert C. Bragg, a broker with VSR Financial Services. Bragg is being investigated because of his ties to the sale of real estate securities, promissory notes, equipment leasing investments, limited partnerships and direct investments. A customer accused Bragg of allegedly violating the Colorado Securities Act, breaching fiduciary duty, negligent misrepresentation, professional negligence and negligent supervision. A broker such as Robert C. Bragg has a duty to recommend only appropriate investments for customers, depending on the customer’s age, net worth and investment objectives, among other things. If he does not, his firm, VSR, can be sued in the Financial Industry Regulatory Authority (FINRA) arbitration forum to recover investment losses. VSR was fined $550,000 FINRA in May 2013 in connection with the sale of alternative investments. FINRA found that VSR was recommending high concentration levels of alternative investments in customer accounts and that it had a lack of supervision over the use of consolidated reports prepared by brokers and provided to customers.
According to his online FINRA BrokerCheck report, Bragg has been registered with VSR in Colorado Springs, Colorado since March 2004. He has four customer disputes against him. If you or someone you know lost money with Robert C. Bragg, you may be able to sue VSR in the FINRA arbitration forum. Please call our law offices to speak to an attorney for free about your options. We take cases on a contingency fee basis only.
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