WARNING! Impending Investigation–JAMES E. NEILSEN, TRADITION ASIEL SECURITIES, SOUND SECURITIES, and LONGSHIP ALTERNATIVE ASSET MGMT.
JAMES E. NEILSEN, TRADITION ASIEL SECURITIES INC., SOUND SECURITIES, LLC, LONGSHIP ALTERNATIVE ASSET MANAGEMENT
Have you suffered investment losses with JAMES E. NEILSEN, TRADITION ASIEL SECURITIES INC., SOUND SECURITIES, LLC, OR LONGSHIP ALTERNATIVE ASSET MANAGEMENT of Norwalk, Connecticut?
We are currently investigating a March 31, 2015 Order entered by the Connecticut Bankruptcy Commission whereby James Neilson, a former registered representative, was found to have old unregistered securities in the form of notes and investment agreements to Connecticut investors, the majority of whom were accounting clients of Neilsen and that Neilsen made misrepresentations and omissions of fact to the investors regarding the investments. The Order states: “Neilsen induced the Investors to enter the Investment Agreements by representing that the investment would generate a nine percent (9%) return. Neilsen also represented to at least one of the Investors that the Investor would not incur any loss.” The Order also finds that James Neilsen failed to provide investors with any written disclosure related to these investments and used some of the investment funds to pay his personal expenses.
This is not James Neilsen’s first run-in with the Banking Commission in Connecticut. Last year, Neilsen and his company, Ulysses Partners, LLC, were found to have sold unregistered securities in the form of promissory notes, subscription agreements and investment agreements to 33 persons who invested approximately $7,438,341. Neilsen was ordered to make restitution of $7,000,000.00 to investors and pay a fine of $25,000.00.
James Neilsen was previously a registered representative with the following broker-dealers: Tradition Asiel Securities Inc. (CRD No. 28269) from December 17, 2004 to July 2, 2007, and Sound Securities, LLC (“Sound Securities”) (CRD No. 122677) from August 7, 2008 to December 9, 2009.
Broker-dealers like Asiel Securities Inc. and Sound Securities, LLC have a duty to supervise the conduct of their financial advisors. If a broker-dealer like Asiel Securities Inc. and Sound Securities, LLC fail to adequately supervise their advisors and representatives, the broker-dealer may have liability for customer losses. If you have lost money through JAMES E. NEILSEN, Asiel Securities Inc. and Sound Securities LLC and want to hear about ALL legal options, please visit https://www.israelsneuman.com/ and go to our CONTACT page or call us at 720-599-3505.
Click to view: 2014 Neilsen Order