Were you the victim of private securities losses with former Saxony Securities, Inc. broker Peter Reinecke (CRD# 2085940)? He was registered with Saxony Securities, Inc. in Saint Louis, Missouri, from 2012 to 2022, and with LPL Financial LLC in Sunset Hills, Missouri, from 1995 to 2012.
Peter Reinecke Customer Complaints
He has been the subject of two customer complaints between 2022 and 2024, according to his CRD report:
January 2024. “Risky and speculative private placement investments, fraud and negligence.” The customer is seeking $13,000,000 in damages, and the case is currently pending. The complaint was regarding private securities losses, and it took place while he was registered with Saxony Securities, Inc.
March 2022. “Claimants allege that during the time period 2010 to 2021, representative made misrepresentations and omissions which caused a majority of their assets to be concentrated in speculative and illiquid private companies. Claimants also allege representative borrowed money from Claimants, and that representative had a personal interest in the private companies where representative invested Claimants’ funds.” The customer sought $10,000,000 in damages, and the case was settled for $495,000. The complaint was regarding private securities losses, and it took place while he was registered with LPL Financial LLC and Saxony Securities, Inc.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Saxony Securities, Inc. may be liable for investment or other losses suffered by Peter Reinecke’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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