Davis Escarcega – Material Misrepresentations
Davis 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 firstname.lastname@example.org or email@example.com.