We are investigating the sales practices of financial advisor Douglas S. Roberts of Idaho. Roberts has been alleged to have steered his clients to invest in artwork through an individual named Marc Jenson.
According to an investigation by the Idaho Department of Finance, Securities Bureau, Roberts solicited a number of Idaho residents to invest in “Secured Promissory Notes” issued by Jenson, which were supposedly backed by artwork. The Idaho Securities Bureau also alleged that Roberts was aware that the State of Utah initiated a securities fraud proceeding against Jenson in 2005. The Idaho Securities Bureau suspended Roberts’ securities license for two years, starting in December 2013, alleging that Roberts aided in the sale of unregistered, non-exempt securities in violation of Idaho Code § 30-14-301.
Roberts was a registered representative of AXA Advisors, LLC from 2005 to December 2011. Broker-dealers have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives. When broker-dealers fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers. If you have lost money through Douglas Roberts and want to hear about ALL legal options, please visit https://www.israelsneuman.com/ or call us at 720-599-3505.
Tags: Douglas Roberts, Marc Jenson, Idaho Department of Finance, Idaho Securities Bureau, AXA Advisors, Secured Promissory Notes.