Richard Gomez— Unsuitable Recommendations

Richard Gomez Allegedly Made Unsuitable Recommendations and Sold Investments Away from Legend Securities, Inc., Including Shares of Praetorian Global Fund, Ltd.

Richard Gomez allegedly made unsuitable recommendations and sold investments away from his firm, Legend Securities, Inc., including shares of Praetorian Global Fund, Ltd., according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Alan Rosca and James Booker.

Richard Gomez allegedly sold nearly half a million dollars of two worthless securities away from his firm., selling these securities to seven customers by misrepresenting and omitting material facts about both investments, the aforementioned Complaint notes.

The first security involved the Praetorian Global Fund, Ltd., an allegedly fraudulent private investment fund headed by John Mattera, and which Gomez allegedly recommended and sold $394,000 of its bogus securities to investors, the Complaint notes.  The Peiffer Rosca Wolf securities lawyers are currently investigating Richard Gomez’s alleged unsuitable recommendations.

Richard Gomez Barred by FINRA after Making Allegedly Unsuitable Recommendations, Including US Coal Corporation, a Small, Private Company in Appalachia that Purportedly Held Plans to Go Public in the “Near Future”

Richard Gomez allegedly made unsuitable recommendations of US Coal Corporation which was a small, private company in Appalachia that purportedly had plans to go public in the “near future”, according to the aforementioned Complaint being examined by attorneys Alan Rosca and James Booker.

Gomez allegedly recommended US Coal’s stock to his customers, purportedly convincing them to invest a total of $105,000, while assuring them that the IPO would happen in the “near future”, the aforementioned Complaint reports.

Rather than filing for an IPO, the Complaint alleges, the company filed for bankruptcy in 2014. Gomez, based on the violative conduct described in the Complaint, allegedly violated FINRA Rules and has been barred from associating in any way with any FINRA-registered firm.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of unsuitable recommendations, and are currently investigating Richard Gomez’s alleged unsuitable recommendations.  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 Richard Gomez’s alleged unsuitable recommendations are encouraged to 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.

Alan Rosca (1174 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.