Can I recover losses due to recommendations by former The Lincoln National Life Insurance Company broker John Bussa (CRD# 4418922)? He has been registered with Osaic Fa, Inc. in Southfield, Michigan, since 2001. He was registered with The Lincoln National Life Insurance Company in Fort Wayne, Indiana, from 2001 to 2006.
John Bussa Customer Complaints
He has been the subject of eight customer complaints between 2008 and 2024, one of which was denied and one was closed without action, according to his CRD report:
February 2024. “Claimant alleges their RR recommended an unsuitable Oil and Gas investment.” The customer is seeking $100,000 in damages, and the case is currently pending. The complaint was regarding oil and gas investment losses, and it took place while he was registered with The Lincoln National Life Insurance Company.
August 2023. “Claimant alleges the RR recommended an overconcentration of an illiquid non-traded REIT investment. Claimant also alleges the RR recommended the client hold the position when a 3rd party tender offer was available and the investment is now worth significantly less.” The customer is seeking $45,000 in damages, and the case is currently pending. The complaint was regarding real estate security losses, and it took place while he was registered with The Lincoln National Life Insurance Company.
November 2022. “Claimants allege the representative recommended an unsuitable Oil & Gas investment.” The customer sought $275,000 in damages, and the case was settled for $125,000. The complaint was regarding oil and gas investment losses, and it took place while he was registered with The Lincoln National Life Insurance Company.
July 2022. “Claimant alleges the representative recommended an unsuitable Oil & Gas investment.” The case was settled for $93,991.80. The complaint was regarding oil and gas investment losses, and it took place while he was registered with The Lincoln National Life Insurance Company.
March 2022. “Claimants allege the RR recommended an unsuitable Oil & Gas investment.” The case was settled for $111,285.91. The complaint was regarding oil and gas investment losses, and it took place while he was registered with The Lincoln National Life Insurance Company.
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, The Lincoln National Life Insurance Company may be liable for investment or other losses suffered by John Bussa’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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