Davis Escarcega – Material Misrepresentations

Cleveland stockbroker fraud lawyerDavis Escarcega Allegedly Made Misleading Representations in the Neighborhood of $4.1 Million

Davis Joseph Escarcega allegedly made material misrepresentations to investors totaling approximately $4.1 million, according to a FINRA Complaint from the Department of Enforcement currently under review by attorneys Alan Rosca and James Booker.

Escarcega, of Phoenix, Arizona, allegedly misled investors in the selling of corporate debt securities, the aforementioned Complaint notes.

The Peiffer Rosca Wolf securities lawyers are investigating Davis Joseph Escarcega’s alleged material misrepresentations.

Davis Joseph Escarcega Allegedly Made Fraudulent Misrepresentations to Seven Customers Related to Investments in GWG Debentures; Escarcega Barred from Associating with Any Firm in Any Capacity and Disgorged $52,270

Davis Joseph Escarcega allegedly made fraudulent misrepresentations to seven customers in connection with their investments in GWG Debentures and therefore violated NASD and FINRA Rules, according to the aforementioned FINRA Complaint from the Department of Enforcement currently under review by attorneys Alan Rosca and James Booker.

Based on the aforementioned violations, David Joseph Escarcega is barred from associating with any member firm in any capacity and ordered to disgorge as a fine the amount of$52,270, the Complaint reports.

GWG allegedly had a limited operating history and had never made a profit, and on 2009 and 2010, it had combined losses exceeding $5 million, the Complaint reports.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged misleading material representations and are currently investigating Davis Joseph Escarcega’s alleged material misrepresentations. 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 Davis Joseph Escarcega’s alleged material misrepresentations may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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.