Erez Law is currently investigating former Triad Advisors LLC broker James Walesa (CRD# 1061209), who is accused of recommending unsuitable alternative investments. He was registered with Arkadios Capital in Park Ridge, Illinois, from 2019 to 2021. Previously, he was registered with Triad Advisors LLC in Park Ridge, Illinois, from 2000 to 2019.
Public records indicate that he had a 39-year securities industry career. In 2021, he left the firm to become CEO and chairman of Clearday Inc., a senior care technology company.
It is alleged that he recommended the following alternative investments:
- AIU Alternative Care Preferred Stock
- AIU Clearday Operations, Inc. Series A
- Allied Integral AIU Hill Country
- Allied Integral United
- Allied Integral United, Series A Pfd Stock
- Cibolo Creek Partners LLC
- Citadel Exploration Inc.
- Clearday Inc.
- Clearday Operations, Inc. Series A
- Clearday Operations, Inc. Series F Pfd Stk
- Cross Mill
- Farm to Market Development Partners I
- Gadsden Growth Properties
- Helotes
- Hill Country Partners, LP
- Longhorn Lodging Partners LP
- Memory Care America
- Roundrock Development Partners LP
- Shadow Retail Partners LP
- Stockdale
- Trident Healthcare Properties
James Walesa Customer Complaints
He has been the subject of eight customer complaints between 2013 and 2023, according to his CRD report. The most recent complaints are regarding:
December 2023. “It is alleged that the financial professional was involved in unsuitable recommendations for investment in businesses for which he also served in positions of ownership, operation or direction.” The customer is seeking $5,000 in damages, and the case is currently pending. The complaint was regarding real estate securities, and it took place while he was registered with Triad Advisors LLC.
November 2023. “Unsuitable.” The customer is seeking $300,000 in damages and the case is currently pending. The complaint was regarding alternative investments, and it took place while he was registered with Arkadios Capital.
April 2023. “Breach of contract, violation of securities statutes, negligence, and breach of fiduciary duty alleged in relation to a number of alternative investments.” The customer is seeking $500,000 in damages, and the case is currently pending. The complaint was regarding direct investments and real estate securities, and it took place while he was registered with Triad Advisors LLC.
March 2023. “It is alleged that the financial professional was involved in unsuitable recommendations for investment in businesses for which he also served in positions of ownership, operation or direction.” The customer sought $5,000,000 in damages, and the case was settled for $2,057,145.89. The complaint was regarding direct investments, and it took place while he was registered with Triad Advisors LLC.
March 2023. “Unsuitable products.” The customer is seeking $500,000 in damages, and the case is currently pending. The complaint was regarding real estate investment trusts (REITs), and it took place while he was registered with Arkadios Capital.
April 2022. “Claimants allege unsuitable recommendations, failure to conduct due diligence, misrepresentation and omission of material facts with regard to the sale of alternative investments.” The customer sought $790,000 in damages, and the case was settled for $4,500,000. The complaint was regarding alternative investments, and it took place while he was registered with Triad Advisors LLC.
March 2022. “Lost funds during 2010 to present.” The customer is seeking $175,000 in damages, and the case is currently pending. The complaint was regarding direct investments, and it took place while he was registered with Triad Advisors LLC.
July 2021. “Claimant alleges that the representative recommended an investment that was unsuitable.” The customer sought $200,000 in damages, and the case was settled for $20,000. The complaint was regarding equity funds, and it took place while he was registered with Triad Advisors LLC.
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, Triad Advisors LLC may be liable for investment or other losses suffered by James Walesa’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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