Gustave Schmidt Under Investigation for StraightPath Venture Sales

If you lost money with Gustave Schmidt of Investment Network in Smithtown, New York, contact Israels & Neuman at 720-599-3505.

FINRA’s Allegations Regarding Schmidt

FINRA initiated its investigation into Gustave Schmidt regarding his involvement with StraightPath Venture Partners, LLC. He allegedly recommended that his customer invest in StraightPath Venture Partners for the purpose of investing in pre-IPO companies. FINRA alleged that Schmidt misrepresented the compensation he would receive for selling these investments.

Since then, StraightPath Venture Partners has entered into a Receivership. Usually in this situation, investors suffer substantial losses in their investments. Moreover, the former principals of StraightPath Venture Partners were indicted back in November 2023.

Background on Gustave Schmidt

From January 2017 to the present, Gustave Schmidt was a registered representative of Investment Network. He worked at an office in Smithtown, New York. He has worked for nine other brokerage firms during his time in the securities industry, and five out of those nine firms have been barred by FINRA.

Responsibility for Schmidt’s Conduct

Investment Network, as a FINRA member, has obligations to supervise the conduct of its financial advisors. If the firm fails to adequately do so, it could be held responsible for any investor losses.

Israels & Neuman Helps Investors in Smithtown, New York

We represent investors throughout the country in arbitration matters. If you were a client of Gustave Schmidt in New York and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

Contact Us for a Free Case Evaluation

Call us today at (720) 599-3505 or (206) 795-5798 or fill out our contact form to learn more about your rights.

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