WARNING! Impending Investigation: GARY ARFORD and INDEPENDENT FINANCIAL GROUP
Gary Arford and Independent Financial Group
Have you lost money with financial advisor Gary M. Arford of Lynnwood and Edmonds, Washington? We are investigating allegations made by the Securities and Exchange Commission (SEC) against Gary Arford. The SEC alleged that Arford made misrepresentations in connection with a private fund that he managed, and that he made misrepresentations about investments in hotels in the Seattle area.
According to the SEC’s allegations, between December 2010 and October 2013, Gary Arford managed a private fund, which was purported to primarily invest in real estate ventures. The SEC alleges that he defrauded investors in four ways with respect to this private fund: a) he induced the fund to invest $4 million in an undeveloped suburban Seattle hotel by misrepresenting the hotel’s debt and encumbrances on the property; b) he then took personal possession of this undeveloped land and used that land for collateral on personal loans; c) he hid information regarding the use of the fund’s assets and status of the hotel’s development; and d) he misappropriated the fund’s assets.
Gary M. Arford was a financial advisor and registered representative of Independent Financial Group from November 2013 to March 2014. Arford was also registered with Geneos Wealth Management from September 2011 to April 2013, and he also worked with a registered investment advisory firm, Comprehensive Wealth Management. Arford worked at a branch office in Lynnwood, Washington and lives in Edmonds. Arford has been the subject of at least ten customer complaints, and he was fired by Independent Financial Group in March 2014 regarding the complaints made against him.
Brokerage firms like Independent Financial Group and Geneos Wealth Management have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in the north suburbs of Seattle and the Puget Sound area. Attorney David Neuman is licensed to practice law in Washington and has an office in Bellevue. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Geneos Wealth Management, LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James, ProEquities, Securities America, National Securities Corp., and many others.
HAVE YOU LOST MONEY WITH GARY ARFORD, INDEPENDENT FINANCIAL GROUP, or GENEOS WEALTH MANAGEMENT?
Denver Office: (720) 599-3505
Seattle Office: (206) 795-5798
Click to view: Arford SEC AWC
Click to view: Arford BrokerCheck 10.28.15
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DENVER: (720) 599-3505
SEATTLE: (206) 795-5798