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Broker Spotlight: VSR Broker, Gregory Ellis

iStock_000008431693Medium-300x200According to records provided by the Financial Industry Regulatory Authority, former Louisiana-based VSR broker Gregory Ellis is currently not licensed to act as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Ellis (CRD# 4046935).

Gregory Ellis has spent ten years in the securities industry and was most recently registered with VSR Financial Services in Baton Rouge, Louisiana (2000-2010). He was previously registered with HD Vest Investment Services in Irving, Texas (1999-2000). He is currently not registered with any firm or state.

According to his BrokerCheck report, Gregory Ellis is the subject of nine customer complaints and two pending customer complaints.

  • In 2015 a customer alleged Gregory Ellis, while employed at VSR Financial Services, breached his fiduciary duty, made unsuitable recommendations, violated the Louisiana civil code, and breached his duties of trust and loyalty. The complaint settled for $445,500.
  • In 2014 a customer alleged Gregory Ellis, while employed at VSR Financial Services, breached his fiduciary duty, breached his duties of trust and loyalty, acted negligently, breached his fiduciary duty, and made unsuitable investment recommendations. The complaint settled in 2015 for $42,500.
  • In 2014 a customer alleged Gregory Ellis, while employed at VSR Financial Services, violated federal securities law, violated the Louisiana Securities Act, committed common law fraud, breached his fiduciary duty, acted negligently, and breached contract. The complaint settled in 2015 for $243,227.
  • In 2013 a customer alleged Gregory Ellis, while employed at VSR Financial Services, misrepresented material facts, breached his fiduciary duty, violated Louisiana securities laws, breached contract, and acted negligently. The customer is seeking $3,260,000 in the pending complaint.
  • In 2013 a customer alleged Gregory Ellis, while employed at VSR Financial Services, made unsuitable investment recommendations. The complaint settled for $91,000.
  • In 2013 a customer alleged Gregory Ellis, while employed at VSR Financial Services, breached his fiduciary duty, committed fraud, misrepresented material facts, breached contract, acted negligently, and violated Louisiana blue sky law. The complaint settled in 2015 for more than $1,262,000.
  • In 2011 a customer alleged Gregory Ellis, while employed at VSR Financial Services, breached his fiduciary duty, misrepresented material facts related to an investment, violated Louisiana securities laws, and breached contract. The complaint settled in 2013 for $110,000.
  • In 2011 a customer alleged Gregory Ellis, while employed at VSR Financial Services, breached his fiduciary duty, misrepresented material facts, and made unsuitable recommendations. The complaint settled in 2012 for $80,000.
  • In 2010 a customer alleged Gregory Ellis, while employed at VSR Financial Services, acted unsuitably and breached his fiduciary duty. The complaint settled in 2011 for $350,000.

If you have complaints regarding Gregory Ellis, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recover lost funds.  All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.