DID HUGH ORDWAY BARNDOLLAR III CAUSE YOU INVESTMENT LOSSES?
Hugh Barndollar III Formerly With Crown Capital Securities, L.P. Has 13 Customer Complaints For Alleged Broker Misconduct
About Hugh Barndollar III formerly with Crown Capital Securities, L.P.?
Hugh Barndollar III (CRD #3027317) is a former securities broker who is not currently registered. His most recent registration was with Crown Capital Securities, L.P. from March 2013 to December 2021. Prior to that, he was registered with several firms including Newport Coast Securities, Inc., J.P. Turner & Company, L.L.C., and Brookstreet Securities Corporation. Barndollar has held numerous roles as a financial advisor and investment advisor representative, and his work history spans over two decades in the securities industry. Over his career, he has passed one principal/supervisory exam, three general industry/product exams, and two multi-state securities law exams.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Hugh Barndollar III Customer Complaints and Reviews
Hugh Barndollar has been involved in multiple disclosure events, including 1 regulatory action and 13 customer disputes. Below are key details of these events:
- Regulatory Action (1): In November 2022, FINRA initiated a case regarding Barndollar’s participation in unapproved private securities transactions totaling over $1.4 million. He was sanctioned and received a two-year suspension along with a $10,000 fine.
- Customer Disputes (13):
- Settled Disputes:
- Ten disputes have been settled, with claims involving unsuitable investments, misrepresentation, and failure to conduct due diligence. Settlement amounts range from $12,500 to $160,000. Most disputes involved alternative investments such as non-traded REITs and oil and gas interests.
- Pending Disputes:
- There are three ongoing disputes filed in 2024, each involving allegations of unsuitable recommendations, misrepresentation, and negligence. The alleged damages for these cases are as high as $50,000.
Allegations Against Hugh Barndollar III
- Regulatory Allegations: Barndollar participated in unapproved private securities transactions while under heightened supervision at his firm due to prior customer complaints. He facilitated sales of alternative investments worth over $1.4 million without the firm’s approval and falsely certified compliance on several occasions. FINRA’s investigation concluded with Barndollar consenting to the findings without admitting or denying guilt, resulting in a suspension and monetary penalty.
- Customer Disputes: Many of the customer complaints against Barndollar revolve around allegations of unsuitable investment advice, misrepresentation, and failure to conduct proper due diligence in recommending alternative investments, particularly non-traded REITs and oil and gas interests. These investments allegedly resulted in financial losses for the clients, leading to multiple settlements and ongoing arbitration cases.
Hugh Barndollar III Red Flags & Your Rights As An Investor
Of course, Hugh Barndollar III 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 Hugh Barndollar III at Crown Capital Securities, L.P. on alert to review carefully the activity and performance of their accounts and question whether Hugh Barndollar III has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Crown Capital Securities, L.P. also raises questions about the brokerage firm’s 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 Charles Schwab & Co., Inc. Due To Omar Barakat
If you have questions about Crown Capital Securities, L.P. and/or Hugh Barndollar III 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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