TCA Global Credit Fund

Mark Young (CRD#: 1800687), a broker registered with Royal Alliance Associates in Topeka, Kansas, is listed on an SEC form as receiving sales commissions from TCA Global Credit Fund, which is liquidating amid an SEC investigation and whistleblower complaints from former employees.

Investors trying to liquidate their positions in the Global Credit Master Fund will likely suffer losses. Since Mark Young is a FINRA-registered broker, clients he sold into the TCA Global Credit Fund are eligible to attempt to recover losses by filing FINRA arbitration claims and/or potential court actions.

TCA Global Credit Fund is the main fund of TCA Management Group, a South Florida-based hedge fund. In January, 2020, the company announced that it was shutting down the Global Credit Fund because clients asked to withdraw more cash than is available.

The announcement came after several TCA employees filed an SEC whistleblower complaint which alleges that the Global Credit Master Fund, which lends money to distressed companies, had been inflating the hedge fund’s earnings and assets since 2017. The SEC is also allegedly investigating the company.

The Global Credit Master Fund gave high interest loans directly to distressed small and medium size companies. The loans carried high-risk, but also potentially higher-than-average returns for the fund. TCA claims it made gains of 7% to 8% in recent years.

The employees who filed the whistleblower complaint say that TCA wasn’t booking losses on bad loans and recorded fee revenues that it didn’t receive.

They claim that a proper accounting of its holdings would add up to about $300 million in assets under management, not the $516 million TCA has claimed. Only about $60 million are performing loans, and return a meager 1.92% annually, the whistleblowers said.

SEC FORM D (Notice of Exempt Securities) lists Mark Young as receiving sales commissions for the TCA Global Credit Fund. It shows the states of solicitation as New York, New Jersey, and Kansas. The form also lists another person, from the United Arab Emirates, as receiving sales compensation for the TCA Global Credit Fund. The total sales commissions paid is $411,597.

Before joining Royal Alliance Associates (CRD#: 23131) in 2006, Mark Young worked for Investment Advisors & Consultants, Inc (CRD#: 7996) and Security Distributors, Inc. (CRD#: 3336). He has been in the industry since 1988 and has no disclosures on his record.

Royal Alliance Associates is a broker-dealer based in New Jersey. They are part of Advisor Group, which also includes broker-dealers Woodbury Financial Services, FSC Securities Corporation, and SagePoint Financial. Royal Alliance Associates’ publicly-available FINRA BrokerCheck lists 77 disclosures, which includes 41 regulatory events and 29 arbitration disclosures.

In arbitration claims against Royal Alliance Associates, customers have alleged gross negligence, unsuitable investment advice, intentional and negligent misrepresentations of material fact, unjust enrichment, breach of fiduciary duty, and other causes.

Silver Law Group has filed FINRA arbitration claims against SagePoint Financial to recover investment losses from GPB Capital Holdings on behalf of clients. Like the TCA Global Credit Fund, GPB was sold as a private placement to clients seeking high dividend returns. GPB has now stopped paying dividends, is being investigated by government agencies, and is accused by a former partner of operating like a Ponzi scheme. Clients who purchased GPB through a FINRA-registered broker-dealer are eligible to file arbitration claims to recover their investment losses.

If you or someone you know lost money investing with Mark Young, Royal Alliance Associates, or the TCA Global Credit Fund, please contact the Silver Law Group toll free at (800)-975-4345 or e-mail ssilver@silverlaw.com for a confidential consultation. Our attorneys have extensive experience representing investors with losses related to unsuitability and misrepresentation, and represent investors nationwide. Our class action attorneys have significant experience recovering investor losses.