WARNING! Impending Investigation: ROBERT S. BEYER II, FORSYTH SECURITIES, and OAKBRIDGE FINANCIAL SERVICES
Robert S. Beyer II, Forsyth Securities, Inc. and Oakbridge Financial Services, Inc.
Have you lost money with financial advisor Robert S. Beyer II from St. Louis, Missouri? We are investigating allegations made by Missouri Securities Division against Robert Beyer. Beyer was alleged to have stolen money from clients by selling them investments in his company, Heroic Life Assurance Company (or “HLA”). Beyer was indicted for wire fraud in October 2014 by the U.S. Attorney’s office in St. Louis, Missouri, alleging that he used investor funds from HLA for personal expenses and never invested the money as represented.
According to the criminal indictment, Robert Beyer told investors to withdraw money from legitimate investments and annuities held with various securities and insurance companies, including Forsyth Securities, Inc., now known as Oakridge Financial Services, Inc., and Washington National Insurance Company. After the money was withdrawn from the legitimate investments, Beyer told victims to invest in Heroic Life Assurance, saying that an investment in HLA was safe and secure, and that it provided a fixed return.
Moreover, Beyer told investors that an alleged financier, “Jesus Cristobal”, was operating HLA. In fact, “Jesus Cristobal” did not exist and was merely the name on an email account that Robert Beyer had created to deceive his victims. Robert Beyer was alleged to have stolen the investors’ money and used them for personal expenses. It is believed that he has taken at least $329,000 from investors in Missouri and Illinois between December 2011 and June 2013.
Robert S. Beyer II was a financial advisor and registered representative of Forsyth Securities, Inc. from January 2010 to May 2012, and with Oakbridge Financial Services (after it changed its name from Forsyth Securities) from March 2013 to September 2013. Beyer was barred by FINRA (the Financial Industry Regulatory Authority) in June 2014 for failing to respond to an investigation regarding this conduct. Beyer was also fired by MetLife Securities in 1997 for allegedly forging signatures. Additionally, between 2007 and 2009, Beyer was the subject of at least one garnishment order, two federal tax liens, and one civil judgment. He is believed to have had offices in St. Louis and Kirkwood, Missouri and is believed to have lived in Afton, Missouri.
Brokerage firms like Forsyth Securities and Oakbridge Financial Services 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 St. Louis, Missouri area. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including 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 Financial Services, ProEquities, Securities America, National Securities Corp., and many others.
If you invested with Heroic Life Assurance Company (HLA), Robert S. Beyer II, Forsyth Securities, or Oakbridge Financial Services, please Contact Us at 720-599-3505 for a free evaluation of your case.
Click to view: Beyer Crim Indictment
Click to view: Beyer MO Comp
Click to view: Beyer BrokerCheck 5.26.15