WARNING! Impending Investigation–TOBIN J. SENEFELD, JEFFREY B. RISINGER, MATTHEW D. HAAB, and FARMGROWCAP LLC
Tobin J. Senefeld, Jeffrey B. Risinger, Matthew D. Haab, and FarmGrowCap LLC
Have you lost money with financial advisors Tobin J. Senefeld, Jeffrey B. Risinger, and Matthew D. Haab of Carmel, Indiana? The Securities and Exchange Commission (SEC) brought a regulatory action against Senefeld, Risinger, Haab, and the companies that they were affiliated with. Haab was affiliated with a registered investment advisory firm (RIA) called Veros Partners, Inc. Tobin Senefeld and Jeffrey Risinger were registered representatives affiliated with PIN Financial LLC.
The SEC alleges that from 2012 to 2014, Haab, Senefeld, Risinger, and Veros Partners solicited at least 80 investors to invest more than $15 million in Farm Loan Holdings LLC and FarmGrowCap LLC (or Farm Grow Cap LLC). The SEC alleged that Farm Loan Holdings and FarmGrowCap purportedly used money to make short term loans to farmers, and that investor proceeds were used to fund those loans. However, the SEC alleged that investor funds were used to pay off earlier investors when those farms did not repay their loans, a classic sign of a Ponzi scheme. It was further alleged that they paid themselves at least $800,000 in undisclosed fees and repeatedly misled investors about the risks, nature, and performance of the investments and underlying farm loans. The SEC alleged that this was fraudulent and seeks to enjoin Haab, Senefeld, Risinger, and Veros Partners from engaging in this scheme.
Tobin J. Senefeld was a registered representative and financial advisor of PIN Financial LLC from December 2012 to the present, and he is also part owner and CEO of PIN Financial. Senefeld was previously the subject of at least 16 securities regulatory actions, primarily from a free-riding scheme during 1999 and 2000. Senefeld also has at least seven liens against him from the IRS and the Indiana Revenue Service. He lives in Indianapolis.
Jeffrey B. Risinger was a registered representative and financial advisor with PIN Financial LLC from March 2014 to the present. Risinger is also a licensed attorney and a part owner of PIN Financial. He lives in Fishers, Indiana.
Brokerage firms like PIN Financial LLC 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.
Our attorneys have represented over one thousand investors who have been defrauded by their financial advisor or stockbroker. While we have offices in Denver and the Seattle area, we currently and have also previously represented clients throughout Indiana and the Midwest. If you have lost money with FarmGrowCap LLC, Farm Loan Holdings, Tobin Senefeld, Jeffrey Risinger, Matthew Haab, or Veros Partners Inc., 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: Senefeld SEC Complaint
Click to view: Senefeld BrokerCheck 4.25.15
Click to view: Risinger BrokerCheck 4.25.15
Click to view: PIN BrokerCheck 4.26.15