Stoltmann Law Offices is investigating Eric Wegner, a broker with Cambridge Investment Research. He is accused of making unsuitable investments, misrepresentation, breaching fiduciary duty, and making false statements, many in connection with the sale of private placements like TIC interests. He also allegedly made unsuitable recommendations over the sale of variable annuities. Tenant-in-common (TIC)s are when investors have an undivided interest in real property. Each tenant owns a separate and undivided interest in the same real property and has an equal right to the possession and use of it. TICs can be very risky investments and are not suitable for every investor. A broker must take into account an investor’s net worth, age, investment sophistication and portfolio objective before recommending securities, and, if he does not, and investment losses occur, can be held liable for those losses. In many cases, his current or former brokerage firm can be used in the Financial Industry Regulatory Authority (FINRA) arbitration process because they had a responsibility to regulate and supervise the broker while he was employed there.
Eric Wegner was registered with Allstate Financial Services in Lincoln, Nebraska from January 2000 until October 2000, FFP Securities in Chesterfield, Missouri from October 2000 until December 2002, Sammons Securities Company in Burnsville, Minnesota from December 2002 until December 2008, QA3 Financial Corp in Burnsville from January 2009 until February 2011 and Sigma Financial Corp in Minneapolis, Minnesota from February 2011 until July 2013. He is currently registered with Cambridge Investment Research in Delafield, Wisconsin and has been since July 2013. He has five customer disputes against him, one of which is currently pending.
If you or someone you know invested and lost money in TIC investments or any other investments with Eric Wegner and Cambridge Investment Research, please call our securities law firm in Chicago to speak with an attorney about your options of bringing a claim against the firm. The call is free with no obligation. We take cases on a contingency fee basis only so we only make money when you recover your losses. Please call as soon as possible as time is of the essence with these types of cases. There are statutes of limitations. 312-332-4200.
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