Conrad R. Huss—Misrepresentations with Sale of Promissory Notes

ohio stockbroker fraud attorneysConrad R. Huss Allegedly Made Misrepresentations in Connection with the Solicitation and Sale of $1.4 Million Worth of Promissory Notes

Conrad R. Huss allegedly made misrepresentations in connection with the solicitation and sale of $1.4 million worth of promissory notes in a private offering to 14 customers, according to a Complaint from FINRA’s Department of Enforcement.

Said notes were allegedly issued by the Economic Development Finance Corporation (EDFC), a real estate development company formed in 2002 in Massachusetts, the Complaint notes.

EDFC, the Complaint further alleges, in or around August 2007, allegedly defaulted on the Notes and failed to pay its broker dealer’s customers the principal due and owed under the terms and conditions of the EDFC Notes, thus resulting in significant losses to many customers, the Complaint further notes.

Conrad R. Huss Allegedly Negligently Misrepresented to Customers that EDFC Notes were Fully Secured by EDFC Pledge; Suspended Two Years by FINRA and Fined $20K

Conrad R. Huss allegedly made misrepresentations to customers that the EDFC Notes were fully secured by EDFC’s pledge of proceeds from the sale of certain historic rehabilitation tax credits (HRTCs), according to the aforementioned FINRA Complaint.

What is more, Huss allegedly provided investors with documents in which EDFC falsely stated that the EDFC Notes were secured by proceeds from the HRTCs, the Complaint notes. In addition Huss allegedly used these materials in connection with the sale of the EDFC Notes to prospective investors, negligently disregarding information indicating that EDFC’s statements were false.

As a result of the aforementioned behavior, Conrad R. Huss allegedly violated tenants of NASD Rules, and hence has been suspended and from association with any FINRA member in all capacities for a period of two years and fined in the amount of $20,000, according to the Complaint.

The Peiffer Rosca Wolf Securities Lawyers Help Investors

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged material misrepresentation. 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 material misrepresentation may contact the investor rights lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1157 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.