DID PETER FREDERICK REINECKE CAUSE YOU INVESTMENT LOSSES?
Peter Reinecke Formerly With Saxony Securities, Inc. Has 2 Customer Complaints For Alleged Broker Misconduct
About Peter Reinecke formerly with Saxony Securities, Inc.?
Peter Reinecke (CRD #2085940) has an extensive background in the securities industry but is not currently registered. Over his career spanning more than three decades, he has been associated with several firms, including Saxony Securities, Inc., LPL Financial LLC, and CIGNA Financial Advisors, Inc. His last registered role was at Saxony Securities in Saint Louis, Missouri, where he worked from September 2012 until December 2022. Reinecke has passed a comprehensive array of industry examinations, including two principal/supervisory exams (Series 24 and 26), five general industry/product exams (including Series 7 and SIE), and two multi-state securities law exams (Series 65 and 63).
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Peter Reinecke Customer Complaints and Reviews
Peter Reinecke has been involved in multiple disclosure events, which include customer disputes:
- Settled Customer Dispute: Involved allegations of unsuitable investments in private securities, spanning from 2010. The case was settled with a monetary compensation of $900,000, where Reinecke contributed $700,000 personally. This dispute was formally resolved on April 9, 2024.
- Pending Customer Dispute: Initiated due to claims of risky and speculative investment practices in private placements, coupled with allegations of fraud and negligence. The claimed damages amount to $13,000,000, and the arbitration process is ongoing as of the latest update.
Allegations Against Peter Reinecke
- Settled Dispute Allegations (2010-2024):
- Nature of Allegations: Investments were deemed unsuitable due to their speculative and illiquid nature. Additional claims included misrepresentations and omissions, heavily concentrating client assets in speculative ventures, some of which Reinecke had personal financial interests.
- Settlement Details: The dispute was settled with Reinecke agreeing to pay a substantial part of the settlement, acknowledging the seriousness of the claims without a formal admission of wrongdoing.
- Pending Dispute Allegations (2023-2024):
- Nature of Allegations: Continuation of unsuitable investment strategies focusing on high-risk private securities. There are also allegations of fraudulent actions and general negligence in managing client funds.
- Current Status: This case is pending arbitration with a significant amount of claimed damages, indicating the gravity of the alleged infractions and their potential impact on the clients involved.
Peter Reinecke Red Flags & Your Rights As An Investor
Of course, Peter Reinecke did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Peter Reinecke at Saxony Securities, Inc. on alert to review carefully the activity and performance of their accounts and question whether Peter Reinecke has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Saxony Securities, Inc. also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Saxony Securities, Inc. Due To Peter Reinecke
If you have questions about Saxony Securities, Inc. and/or Peter Reinecke and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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