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 Jason Kane and James Booker.
Peiffer Wolf Carr & Kane 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 Jason Kane 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 Jason Kane 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 Wolf Carr & Kane 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 Wolf Carr & Kane, Jason Kane or James Booker, for a free no-obligation evaluation of their recovery options, at (585) 310-5140 or via e-mail at firstname.lastname@example.org or email@example.com.