Originally Syndicated on May 18, 2023 @ 9:31 am
Trawnegan Gall claims to offer tax-advantaged securitized real estate investments through WealthForge Securities LLC, a general securities representative licensed with Cornerstone (FINRA series 7 and 63). Mr. Gall has organized more than $350 million in equity into real estate assets through over 750 individual transactions since 2014. He specializes in Delaware Statutory Trusts as like-kind properties for 1031 exchanges, but he also provides a number of other securitized real estate-based options. After receiving a BA in history from Pomona College in 1990, he spent over 20 years working with faith-based non-profits around the world. He specialized in international operations strategy planning, project management, employee development, negotiation, and issue-solving.
Trawnegan Gall was skilled at factual analysis and played an important role in the financial planning and budgeting processes. Languages and linguistics have always been his interests. He studied languages from Europe, the Middle East, Asia, and the Pacific Islands and is functionally proficient in four of them. He also enjoys hiking, mountain biking, and skiing, and he is virtually always accompanied by his son, who is now a teenager.
Trawnegan Gall is a staunch supporter of industry best practices and actively encourages all parties with whom he works to embrace and adhere to consistent best practices in order to help the business thrive.
Trawnegan Gall continues to expand his experience in this specialized field of real estate investment through networking, industry conferences, and involvement in due diligence efforts. Trawnegan Gall is also a co-author of the Delaware Statutory Trust and Modern Real Estate Investing.
Trawnegan Gall Sues Cornerstone Advisor for $450,000
Trawnegan Gall (CRD# 6266415), a financial advisor in Prosper, Texas, has received an investor complaint stating that his actions resulted in six-figure losses. According to the Financial Industry Regulatory Authority, he is a broker with WealthForge Securities, doing business as Cornerstone Real Estate Investment Securities. He had previously been registered with Sandlapper Securities.
Trawnegan Gall’s BrokerCheck record reveals a number of investor complaints. The most current, filed in August 2022, claims that as a Cabot Lodge Securities salesperson, he promoted unsuitable investments, broke his fiduciary duty, violated FINRA rules, engaged in negligence, and breached the contract. The pending complaint seeks $450,000 in damages.
An earlier case, filed in January 2022, claims that he suggested a loss-making investment in a Senior Care Centers private placement as a representative of Sandlapper Securities. The ongoing complaint seeks $92,410 in damages.
A third investor complaint, filed in 2019, claimed that Trawnegan Gall was negligent, recommended unsuitable investments, made negligent misrepresentations and omissions, made intentional misrepresentations and omissions, committed fraud, breached his fiduciary duty, violated the California Securities Act, violated FINRA rules, and breached the contract as a representative of Sandlapper Securities. The complaint was settled for $325,000 in 2020.
According to Trawnegan Gall’s statement in the 2019 case, the claimants were “sophisticated investors seeking a refund of investment dollars on a single unsuccessful investment made as part of a more broadly diversified portfolio.” The statement went on to say that “proper due diligence and suitability analysis was conducted, and investors were fully informed regarding the potential risks and benefits of the offerings when making their investments.”
Trawnegan Gall has eight years of securities industry expertise, according to the Financial Industry Regulatory Authority. He has been a WealthForge Securities broker in Prosper, Texas, since 2019, doing business as Cornerstone Real Estate Investment Securities. Cabot Lodge Securities (2019) and Sandlapper Securities (2013-2019) in Orange, California are among his previous registrations. Trawnegan Gall has passed three securities industry qualifying tests, including the General Securities Representative Examination, or Series 7, the Uniform Securities Agent State Law Examination, or Series 63, and the Securities Industry Essentials Examination, or SIE. Trawnegan Gall is licensed in 48 states.
Carlson Law defends investors in disputes against financial advisors and investment firms throughout the United States.
In a dispute with Trawnegan Gall, an investor seeks six figures.
Trawnegan Gall, a Wealthforge Securities broker, is involved in a pending dispute, according to his BrokerCheck record, which was retrieved on December 30, 2022. If you have any concerns about Trawnegan Gall’s actions as a broker, keep reading.
Investors Disputes
Trawnegan Gall recommended improper investments, according to investor allegations submitted on August 30, 2022. The investor wants $450,000.
An investor claimed in a dispute filed on January 10, 2022, that Trawnegan Gall failed to identify situations that could result in the ultimate loss of an investment in Senior Care Centers, LLC in 2017. In this ongoing case, the investor is seeking $92,410 in damages.
Allegations on Negligence
On October 9, 2019, an investor claimed Trawnegan Gall broke his contract and engaged in irresponsible and fraudulent behavior. The investor further claims deliberate and negligent deception and omission of information, failure to supervise as a control person, and unspecified suitability violations.
The investor further claims that the California Securities Act and FINRA Rules were violated, resulting in the loss of an investment opportunity.
The investor claimed $693,123.29 in damages and received a settlement of $325,000.
What constitutes broker negligence?
Negligence can manifest itself in a variety of ways, such as neglecting to notify clients or making inappropriate financial advice. When negligence breaches FINRA regulations, investors can seek restitution through arbitration.
2020 and 3110 FINRA Rules
FINRA Rule 2020 prohibits fraudulent activities, including misrepresentation or omission of facts.
Firms must maintain supervisory procedures to verify that their members meet FINRA laws, including ensuring that supervisors have the requisite training or experience for their function, according to FINRA Rule 3110.
Background Information
Trawnegan Gall has passed the following exams:
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
Trawnegan Gall is a registered broker in 45 states, as well as the District of Columbia, Puerto Rico, and the Virgin Islands.
Previously, he worked for Cabot Lodge Securities and Sandlapper Securities
Conclusion
Finally, Trawnegan Gall and his company are completely untrustworthy.
Trawnegan Gall argues that he is dependable and an authority in his profession, but the report as a whole disproves his claim that he obtained his money through deception. His personality is completely deceptive.
Well! What are your thoughts about him? Please undertake extensive research on him or his company before engaging with them.
Wrapping Up with some information on Financial Fraud
Financial fraud occurs when someone steals your money or else hurts your financial health through deceitful, dishonest, or unlawful tactics. This can be accomplished through a variety of means, including identity theft and investment fraud.
What exactly is financial fraud?
The majority of victim compensation programs do not compensate victims for money lost due to fraud or fraudulent schemes. You must examine your state’s legislation regarding victim compensation. To recoup lost funds, civil justice may be the only legal alternative.
What is the significance of financial fraud?
Regardless of the sort of financial fraud, it is critical to report the offenses to the right agencies and law enforcement as soon as feasible. Fraudulent charges should be challenged or canceled as soon as they are identified. Furthermore, victims should gather crime-related paperwork, such as bank statements, credit reports, and tax forms from current and past years, and continue to file important information throughout the reporting process.
Financial Crime Types:
- Identity Theft: Someone obtains your personal financial information, such as your credit card number or bank account number, and uses it to make unauthorized withdrawals from your account. People will sometimes use the information to open credit or bank accounts, leaving the victim accountable for all expenses. Identity theft can result in a ruined credit rating, bounced checks/denied payments, and collection agencies pursuing you.
- Investment Theft This involves selling investments or securities that contain inaccurate or misleading information. It could be false promises, withheld information, or insider trade recommendations.
- Mortgage and lending deception A third party may open a mortgage or loan using your or fake information. In another case, lenders may sell mortgages or loans with inaccurate information, deceptive practices, and other high-pressure sales tactics.
- Mass Marketing Fraud The fraud is committed through mass mailings, telephone calls, or spam emails. It also includes fake checks, charities, lotteries, honor society invitations, and more. These modes are used to steal personal financial information or to raise contributions to fraudulent organizations.
