David Marshall, Former California-Based Independent Financial Group Broker, Under Investigation

Silver Law Group is investigating former Salinas, California-based, Independent Financial Group broker David Marshall after some customers have come forward alleging he recommended his customers invest with unregistered brokers.

According to Marshall’s FINRA BrokerCheck report, Marshall was registered with Independent Financial Group at its Salinas, California branch from July 2015 to October 2017 and is now unregistered. Marshall ran his brokerage business through his own company, Marshall Wealth Management, according to his detailed CRD report. Marshall Wealth Management was also a registered investment adviser.

According to Marshall’s FINRA BrokerCheck report, Marshall sold insurance products through Marshall Wealth Management, including annuities.

Upon information and belief, Marshall recommended his customers invest with individuals who were running a Ponzi scheme beginning in late 2016. The individuals were purportedly running a Ponzi scheme, according to a Securities and Exchange Commission (SEC) complaint filed in June 2018.

According to the SEC complaint, the scheme perpetrators were Perry Santillo, Christopher Parris, Paul LaRocco, John Piccarreto and Thomas Brenner. These individuals allegedly purchased established financial advisors’ books of business, providing the illusion of security to investors, then solicited them to invest in their companies: First Nationle Solution, Percipience Global Corporation and/or United RL Capital Services. In total, the SEC complaint alleges they bilked investors out of over $102 million.

Silver Law Group has filed two claims with similar allegations against Independent Financial Group in 2018. The other Independent Financial Group advisor who allegedly recommended his customers invest with some of the aforementioned unregistered financial advisors is Jon Pariser. According to Pariser’s FINRA BrokerCheck report, FINRA barred him for failing to provide FINRA with requested documents and information related to allegations that he referred some of his customers to an unregistered individual who may have recommended or sold potentially unsuitable securities to them.

Contact Our Firm if You’ve Lost Money Investing with David Marshall and Independent Financial Group

If you’ve invested with Independent Financial Group and/or David Marshall and suffered losses in First Nationle Solution, Percipience Global Corporation and/or United RL Capital Services, we may be able to help you recover your losses. Contact our firm today to learn how we can try to recover your losses. We work on a contingency fee, meaning if we don’t recover money you owe us nothing. Our lawyers have extensive experience in claims against banks, accountants and financial advisors who aid or assist in fraud.

Silver Law Group represents the interests of investors who have been the victims of investment fraud. Scott Silver is the chairman of the Securities and Financial Fraud Group of the American Association of Justice and represents investors nationwide in securities investment fraud cases. Please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.