Alan New has been registered with NYLife Securities LLC in Fort Wayne, IN from 2004 to August 2016.
According to his BrokerCheck Report, New has been the subject of five customer complaints in 2018.
April 2018. “Plaintiff alleges that material facts and the risks associated with an unregistered investment purchased in Woodbridge Mortgage Investment Fund in December 2013 were not disclosed. Claimant seeks recovery of damages in the amount of at least $400,000.00.” The customer is seeking $400,000 in damages and the case is currently pending.
April 2018. “Plaintiff alleges that material facts and the risks associated with an unregistered investment in Woodbridge Mortgage Investment Fund purchased in April 2017 were not disclosed. Plaintiff is seeking the return of his investment ($65,000) less any income received, plus 8% interest, costs and attorney’s fees.” The case is currently pending.
April 2018. “Claimants allege that in April 2014, June 2015 and February 2016 they were sold unregistered and fraudulent investments in Woodbridge Mortgage Investment Fund. Claimants seek to recover damages of at least $319,000 and lost opportunity costs, punitive damages, costs and interest.” The customer is seeking $319,000 in damages and the case is currently pending.
March 2018. “Claimant alleges that in July 2015, April 2016 and December 2016 he was sold unregistered and fraudulent investments in Woodbridge Mortgage Investment Fund . Claimant seeks to recover damages of at least $550,500 and lost opportunity costs, punitive damages, costs and interest.” The customer is seeking $550,500 in damages and the case is currently pending.
January 2018. “Claimants allege that in November 2013 and July 2014 they were sold unregistered and fraudulent investments in Woodbridge Mortgage Investment Fund. Claimants seek to recover damages of at least $100,001 and lost opportunity costs, punitive damages, costs and interest.” The customer is seeking $100,001 in damages and the case is currently pending.
Therefore, NYLife Securities LLC has a duty to supervise its advisors’ activities. An insurance agent or financial advisor cannot sell investments without disclosing Woodbridge or other investments to the firm.
Contact Our Firm if You’ve Invested with Alan New
If you invested with Alan New and believe you have lost money due to his misconduct, you may be able to file a claim to recover your losses through FINRA arbitration. For a free evaluation of your potential case by as securities attorney, please contact Silver Law Group.
Silver Law Group is a nationally-recognized securities law firm headquartered in South Florida representing investors worldwide with their claims for losses due to securities and investment fraud. The firm has successfully recovered multi-million dollar awards for its clients through securities arbitration and the courts. To contact Scott L. Silver to discuss your legal matter, call toll-free (800) 975-4345 or e-mail him at SSilver@silverlaw.com.