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Dennis Van Patter: Oil and Gas/ REIT Complaints

Dennis Van PatterPublic records provided by the Financial Industry Regulatory Authority (FINRA) on March 2, 2016 indicate that Texas-based VSR broker/adviser Dennis Van Patter is the subject of several customer complaints. The securities and investment fraud law firm Fitapelli Kurta is investigating allegations of misconduct against Mr. Van Patter (CRD# 1364583).

Dennis Van Patter has spent 30 years in the securities industry and has been registered with VSR Financial Services in Plano, Texas since 1997. Previous registrations include Dominion Capital Corporation in Dallas, Texas (1990-1997); Anchor National Financial Services (1987-1989); and NWNL Management Corporation (1985-1986). He is a registered broker and investment adviser in Texas.

According to his BrokerCheck report, Dennis Van Patter is the subject of one regulatory sanction, five customer complaints, and one pending customer complaint.

  • In January 2016 a customer alleged Dennis Van Patter, while employed at VSR Financial Services, breached his fiduciary duty, violated Texas securities law, and made unsuitable investment recommendations. The customer is seeking unspecified damages in the pending complaint.
  • In November 2015 FINRA sanctioned Dennis Van Patter following allegations he recommend a retired customer invest in unsuitable and concentrated alternative investments, real estate investment trusts, note programs, oil and gas drilling partnerships, and private placements. He was issued a $10,000 fine and a 45-day suspension.
  • In June 2015 a customer alleged Dennis Van Patter, while employed at VSR Financial Services, recommended unsuitable investments, negligently misrepresented material facts, breached his fiduciary duty, and acted negligently. The complaint settled in September 2015 for $40,000, to which Mr. Van Patter individually contributed $10,000.
  • In 2014 a customer alleged Dennis Van Patter, while employed at VSR Financial Services, misrepresented material facts, acted negligently, and breached his fiduciary duty. The complaint settled in May 2015 for $215,000, to which Mr. Van Patter individually contributed $10,000.
  • In 2014 a customer alleged Dennis Van Patter, while employed at VSR Financial Services, misrepresented material facts, acted negligently, and breached his fiduciary duty. The complaint settled in March 2015 for $11,250, to which Mr. Van Patter individually contributed $10,000.
  • In 2012 a customer alleged Dennis Van Patter, while employed at VSR Financial Services, made unsuitable investment recommendations. The complaint settled in 2013 for $50,000.
  • In 2008 a customer alleged Dennis Van Patter, while employed at VSR Financial Services, executed excessive trades, made unsuitable investment recommendations, and executed unauthorized trades in a trust account. The complaint settled for $15,000.

If you or someone you know has complaints regarding Dennis Van Patter, 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.