Erez Law is currently investigating VFG Securities, Inc. financial advisor Mark Trewitt (CRD# 1364490) regarding losses suffered from investments in Aequitas Income Opportunity Fund II, Vertical Capital Recovery Fund, and Cole Capital Income Trust. Trewitt has been registered with VFG Securities, Inc. in Plano, Texas since 2010.
Recently, two retirees and former clients of Trewitt and VFG Securities, Inc. filed a FINRA arbitration alleging more than $300,000 in losses incurred from a reckless investment strategy concentrated in Aequitas Income Opportunity Fund II, Vertical Capital Recovery Fund, and Cole Capital Income Trust, among other alternative investments. The legal claims against Trewitt include negligence, misrepresentations, and breach of fiduciary duty.
Aequitas Income Opportunity Fund II offered short term notes bearing 8-11% interest and has since been determined by the Securities and Exchange Commission to have been operating in a Ponzi-like scheme fashion, in which old investors are repaid with the money from new investors.
Trewitt has been the subject of seven customer complaints between 2014 and 2017, according to his CRD report:
- June 2017. “Clients alleged during 2010 breach of fiduciary duty, breach of contract and negligent supervision.” The customer is seeking $499,000 in damages and the case is currently pending.
- June 2017. “Between 2012 – 2014, claimants allege negligence, breach of fiduciary duty, and negligent supervision by VFG.” The customer is seeking $800,000 in damages and the case is currently pending.
- March 2017. “Overconcentration of alternative investments, suitability; 2010-2015.” The customer is seeking $300,000 in damages and the case is currently pending.
- February 2017. “Between 11/2007 4/2016 Claimants allege RR’s promotions were misleading, unsuitable recommendations, over-concentration in high risk concentrated investments, and breach of fiduciary duty.” The customer is seeking $350,000 in damages and the case is currently pending.
- June 2016. “Allegations include unsuitable recommendations and misrepresentation of investment program safety. Alleged timeframe of activity; 12/5/2012 – 6/9/2015.” The customer is seeking $130,000 in damages and the case is currently pending.
- March 2016. “Poor and unsuitable recommendations and advice, deceptive marketing practices.” The customer is seeking $213,000 in damages and the case is currently pending.
- September 2014. “Misappropriation of investment in KBR Barons cove by KBR Principal, [third party]. Customer wishes return of entire investment. Customer purchased $25,000 of KBR Baron’s Cove, a private placement, on 12/5/2012. Initial conversations with [customer] by VFG began on 6/26/14, whereby [customer] did not want to file a complaint but wanted his money back. Subsequent conversations between VFG, RR and [customer]resulted in RR offering to buy investment interests from client, which was agreed and settled on 12/15/2014.” The case was settled for $25,000.
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, VFG Securities, Inc. may be liable for investment or other losses suffered by Trewitt’s customers.
Erez Law represents investors in the United States for claims against VFG Securities, Inc. financial advisor Mark Trewitt regarding losses suffered from investments in Aequitas Income Opportunity Fund II, Vertical Capital Recovery Fund, and Cole Capital Income Trust. If you were a client of VFG Securities, Inc. or another firm, and 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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