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Broker Complants: RP Capital LLC (CRD# 134768)

The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Washington-based brokerage firm RP Capital LLC (CRD# 134768).

Formed in Washington in 2004, RP Capital is headquartered in Gig Harbor, Washington and registered with twenty US states and territories. Norman Gary Price, Jr. is Managing Member and Chief Compliance Officer; Ronald Jay Robertson is Member; Daniel Francis Kiernan is Financial Operations Principal; Joel Matthew Price is President.

According to the firm’s BrokerCheck report, RP Capital LLC is currently not the subject of any customer complaints or regulatory sanctions. However, Norman Gary Price (CRD# 2406981), a broker who has been registered with RP Capital since 2005 and is the firm’s Chief Compliance Officer, is the subject of six customer complaints and one regulatory sanction.

In 2014 the US Securities and Exchange Commission (SEC) sanctioned Norman Gary Price following allegations that, as CEO and CCO of Strategic Capital Group (SCG), he engaged in hundreds of securities transactions on a principal capacity with the advisory clients of SCG’s affiliate, RP Capital, without providing prior written disclosure to or obtaining consent from the clients. According to the SEC’s complaint, “RP Capital purchased fixed-income securities from other broker-dealers and then resold them at a higher price to SCG clients without SCG disclosing for more than a year that it was acting as principal through RP Capital and without obtaining required transaction-by-transaction consent.” Mr.Price was issued a fine of $50,000.

In 2013 a customer alleged Norman Gary Price, while employed at RP Capital, recommended unsuitable investments in equipment leasing, real estate security, and hedge funds. The complaint settled in 2014 for $10,524.

In 2013 a customer alleged Norman Gary Price, while employed at RP Capital, recommended fraudulent and unsuitable investments. The complaint settled in 2014 for $6,079.

In 2013 a customer alleged Norman Gary Price, while employed at RP Capital, incorrectly placed funds in speculative and unsuitable investments. The complaint settled in 2014 for $85,000.

In 2012 a customer alleged Norman Gary Price, while employed at RP Capital, recommended unsuitable investments. The complaint settled in 2013 for $59,123.

In 2011 a customer alleged Norman Gary Price, while employed at RP Capital, did not properly care for their portfolio, resulting in losses. The complaint settled in 2012 for $550,000.

In 2009 a customer alleged Norman Gary Price, while employed at RP Capital, recommended unsuitable investments and acted negligently. The complaint settled in 2011 for $21,250.

If you or someone you know has complaints regarding RP Capital, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on contingency: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.