Published on:

Broker Complaints: Southeast Investments (CRD# 43035)

The securities and investment fraud law firm is interested in hearing from investors who have complaints regarding North Carolina-based brokerage and advisory firm Southeast Investments (CRD# 43035).

Formed in 1996, Southeast Investments is headquartered in Charlotte, North Carolina and registered in 52 US states and territories. Frank Black is President, Chief Compliance Officer, Chief Financial Officer, and Financial Operations Principal; Ronald Plexico, Jr. is Principal. According to the firm’s BrokerCheck report, Southeast Investments is the subject of two pending regulatory actions, one regulatory sanction on appeal, and two customer complaints that evolved into arbitration.

In 2015 the Washington Securities Division launched an investigation into Southeast Investments following allegations one of the firm’s registered representatives executed excessive trades in discretionary accounts, ultimately generating roughly $5.3 million in commissions. According to the complaint, Southeast Investments additionally failed to maintain adequate supervisory procedures to prevent such. The investigation remains pending.

In 2015 Southeast Investments was named respondent in a Financial Industry Regulatory Authority (FINRA) investigation into allegations the firm provided fabricated documents to FINRA regarding branch inspections hat never took place. The investigation remains pending.

In 2013 the State of Oklahoma launched an investigation against Southeast Investments following allegations the firm failed to establish, maintain, and enforce written supervisory procedures. Southeast Investments was issued a $5,000 fine in the sanction, which is on appeal.

In 2014 a customer alleged Southeast Investments misrepresented and omitted material facts related to an investment, breached its fiduciary duty, churned the account, and recommended unsuitable investments. The complaint resulted in an award to the customer of $52,152.

In 2008 a customer alleged Southeast Investments breached its fiduciary duty, misrepresented material facts related to an investment, breached contract, and acted negligently in connection to investments in common stock and mutual funds. The complaint resulted in a non-monetary award to the customer.

If you have suffered losses while investing with Southeast Investments, you may be entitled to a recovery. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: we only get paid 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.