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BOCA RATON, Fla., Oct. 04, 2017 -- The Securities Arbitration Law Firm of Klayman & Toskes, P.A., www.nasd-law.com, has commenced an investigation into Financial Industry Regulatory Authority (FINRA) sales practice violations by Sandlapper Securities, LLC (“Sandlapper”). FINRA alleges Sandlapper sold saltwater disposal wells to investors with excessive, undisclosed markups, through an owned and controlled middleman.
On September 29, 2017 FINRA filed a complaint (Disciplinary Proceeding # 2014041860801) against Sandlapper (CRD # 137906), Trevor Lee Gordon (CRD # 2195122), and Jack Charles Bixler (CRD # 22331), alleging that Gordon and Bixler, “extracted ill-gotten profits for themselves through their control of the fund.” Gordon and Bixler sold interests in the fund through Sandlapper, and made all investment decisions, specifically which wells to acquire and what prices to pay. The Complaint alleges that the fraudulent markups totaled over $8 million.
The sole purpose of this release is to investigate whether Sandlapper sold interests in saltwater disposal wells which may have resulted in unsuitable recommendations, breach of fiduciary duty, misrepresentations and omissions of material facts and a failure to supervise. Current and former clients who have information about the sales practices of Sandlapper are encouraged to contact Lawrence L. Klayman, Esq. of Klayman & Toskes, P.A. at (888) 997-9956, or visit our website at www.nasd-law.com.
About Klayman & Toskes, P.A.
K&T is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation, on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm represents high net-worth, ultra-high-net-worth, and institutional investors, such as non-profit organizations, unions, public and multi-employer pension funds. K&T has office locations in California, Florida, New York and Puerto Rico.
Contact:
Klayman & Toskes, PA
Lawrence L. Klayman, Esq.
888-997-9956
[email protected]
www.nasd-law.com
