Allen Green — Broker – Non-traditional ETF Unsuitable Recommendations
Allen Michael Green Lauded Looming Economic Collapse, Allegedly Recommended Unsuitable Investments
Allen Michael Green allegedly recommended unsuitable investments, such as long-term held Non-traditional ETFs and metal bound investments, to most customers relying on his belief that the world was soon to suffer an economic collapse, according to a Complaint from FINRA’s Department of Enforcement.
As a result of Green’s unorthodox view, he allegedly recommended to virtually all of his customers that they invest almost exclusively in securities with exposure to precious metals, natural resources, commodities, and energy, the Complaint further alleges.
Allen Michael Green Allegedly Recommended His “World Chaos” Investments to Mentally Impaired Customer Who Claimed that Her Money “Was All She Had Left in the World”
One of the customers to whom Green recommended the Investment Strategy was a disabled woman known only as AFR, who had a limited capacity to work and a finite and limited amount of assets to support her and her son for the rest of her life, the Complaint alleges.
Green’s recommended that AFR liquidate her existing variable annuity and employ his Investment Strategy resulted, over a 3 1/2 year period of time, in massive losses in AFR’s account, and allegedly violated his obligation to make suitable recommendations to AFR, the Complaint further alleges.
In addition, the Complaint notes, Green routinely recommended that Non-traditional ETFs be held for long periods of time despite the potential risks associated with holding Nontraditional ETFs more than one trading session.
The Peiffer Wolf Investment Recovery Attorneys Often Represent Investors
The Peiffer Wolf investment recovery attorneys often represent investors who lose money as a result of investment misconduct. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of investment misconduct may contact the investment recovery attorneys at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.
Broker: Allen Michael Green
Status: INVESTIGATED by Peiffer Wolf.
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