Can I recover losses from investments with Crown Capital Securities, L.P. broker David McMillen (CRD# 1198070)? He has been registered with Crown Capital Securities, L.P. in Boulder, Colorado, since 2003.
David McMillen Customer Complaints
He has been the subject of four customer complaints between 2005 and 2023, one of which was denied, according to his CRD report:
April 2023. “Customer alleges lack of suitability, breach of fiduciary duty and negligence related to the purchase of alternative investments.” The customer is seeking $125,000 in damages, and the case is currently pending. The complaint was regarding direct investments and non-traded business development companies (BDCs) and non-traded real estate investment trusts (REITs).
March 2018. “Client alleges investment products sold to her were not suitable and have limited liquidity.” The customer sought $5,000 in damages, and the case was settled for $250,000. The complaint was regarding direct investments and equipment leasing.
December 2017. “Client alleges that their investments cannot be liquidated or their value cannot be ascertained and as a result unable to ascertain their financial position.” The customer sought $20,000,000 in damages, and the case was settled for $1,500,000. The complaint was regarding direct investments and oil and gas investments.
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, Crown Capital Securities, L.P. may be liable for investment or other losses suffered by David McMillen’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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