Tracy Rae Turner — Private Securities Transactions

Tracy Rae Turner Allegedly Sold $4.1 million in Interests in Saltwater Disposal Wells Used in Oil and Gas Production to 12 Investors without Proper Prior Written Notice to Colorado Financial; Turner Allegedly Disseminated False and Misleading Communications to the Public about the Investments

Tracy Rae Turner allegedly participated in private securities transactions without giving his firm, Colorado Financial, prior written notice and also purportedly disseminated false and misleading communications to the public regarding the investments, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in issues related to Tracy Rae Turner’s alleged participation in private securities transactions.

Investors who believe they may have lost money in activity related to Tracy Rae Turner’s alleged participation in private securities transactions are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

Turner allegedly sold $4.1 million in interests in saltwater disposal wells that are implemented in oil and gas production to 12 investors without giving his employer firm prior written notice, according to the aforementioned Complaint.

Turner, from September 2013 to April 2014, allegedly offered and sold interests in saltwater disposal well facilities (SWD’s), the Complaint states.

Tracy Rae Turner Barred and Fined $272,000 by FINRA

Turner, by allegedly disseminating false and misleading communications to the public about the investments and failing to get prior approval for the communications, allegedly violated NASD and FINRA Rules and therefore has been barred by FINRA, according to the aforementioned Complaint currently under review by attorneys Alan Rosca and James Booker.

Turner has also been fined $272,879.04, or an amount equal to the commissions he earned from the sales, and also has been suspended for one year from associating with any FINRA member firm in any capacity and fined $20,000 for violating FINRA’s advertising rules, the Complaint notes.

Turner was registered as a general securities representative, general securities principal, and operations professional with Colorado Financial Service Corporation from January 2011 to December 1, 2014, when the firm allegedly filed a Uniform Termination Notice to terminate his registrations, the Complaint reports.

Turner has also purportedly remained unregistered and has not re-associated with another FINRA member firm, the Complaint states.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged investment fraud and are currently investigating Tracy Rae Turner’s alleged participation in private securities transactions. 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 Tracy Rae Turner’s alleged participation in private securities transactions 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 (1163 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.