Stock fraud attorneys at Fitapelli Kurta are interested in speaking to investors who have complaints against Questar Capital Corporation.
Questar Capital Corporation is a broker-dealer firm registered as a corporation. Questar Capital Corporation was formed in Minnesota in 2007 and its main office is located at 5701 Golden Hills Drive, Minneapolis, MN 55459. Questar Capital Corporation is registered with both the SEC and FINRA and is registered to have offices in 52 U.S. states and territories. Questar Capital Corporation has over 650 registered representatives and Questar Capital Corporation’s CEO is Kevin S. Bachmann.
Questar Capital Corporation and its brokers have received numerous customer complaints since opening in 2007. The following are notable complaints filed against either Questar Capital Corporation or its brokers. Questar Capital Corporation and its brokers have also been recommending the Atlas Resources Fund to investors. The Atlas Resources Fund has been the subject of many customer complaints as of late, and many complaints filed with FINRA.
In February 2009 Questar Capital Corporation was fined $200,000 for failing to supervise one of its brokers. According to Questar Capital Corporation’s BrokerCheck Report, a broker at Questar Capital Corporation sold Real Estate Investment Trusts (REITs) to Questar Capital Corporation customers and used their money on his own personal business expenses.
In January 2008 Questar Capital Corporation was fined $54,000. Apparently, Questar Capital Corporation broker, Thomas Gorter held himself out as an investment advisor representative when he was not registered as a broker until three years later. Questar Capital Corporation approved of Thomas Gorter’s business cards, advertising and even failed to notice he was not registered during several audits. Questar Capital Corporation terminated Thomas Gorter in January 2008.
In July 2007 Questar Capital Corporation was fined $75,000 for failing to recognize that one of its brokers was providing false information to his clients. David M. Faubert was a registered broker at USAllianz Securities and later Questar Capital Corporation when the two merged in 2006. Questar Capital Corporation failed to notice that David M. Faubert had been preparing fraudulent monthly statements that improperly inflated the value of client holdings and had been forwarding those statements to clients. David M. Faubert was then using his customer’s funds for his own personal use.
Current Questar Capital Corporation broker, Robert C. Walker has a pending customer complaint. According to Robert C. Walker’s BrokerCheck Report, a customer filed a complaint on August 25, 2014 alleging Robert C. Walker recommended unsuitable investments in Real Estate Investment Trusts such as Atlas Resources Fund. The customer who filed the complaint is seeking $275,000 in damages. Robert C. Walker also has another customer complaint on his BrokerCheck report, this one from 2006. The customer who field that complaint alleged Robert C. Walker failed to communicate the meaning of trading accounts on margin to his customer and invested the client in self-directed investment accounts. That case settled for $250,000 before reaching arbitration with FINRA.
In December 2007, Questar Capital Corporation hit the news when the head of Questar Capital Corporation Mergers and Acquisitions purchased “bogus” unregistered shares of a Las Vegas casino and resorts that did not exist. According to a recent article in InvestmentNews, Jason Kavanagh, the then head of Mergers and Acquisitions at Questar Capital Corporation paid Edward May $57,000 for two units of ATL Project One. Edward May was charged by the SEC with committing a $295 million dollar fraud that ultimately victimized around $1,200 investors. According to the article, Jason Kavanagh purchased the shares from Jastar, LLC.
If you or someone you know has fallen victim to any corrupt broker practices at Questar Capital Corporation as a result of bad investments recommended by Questar Capital Corporation or any of its brokers, you may be entitled to full recovery of your losses.
Our firm prosecutes cases on behalf of investors, like yourself, who have been victimized by broker-dealers like Questar Capital Corporation. Time to file a claim with FINRA is limited, so do not delay. Call 212-658-1502 now for your free consultation.