Garden City, New York financial advisor (CRD# 5225102) has received multiple investor complaints alleging that his investment recommendations led to...Read More
Seth Nannini: GWG Complaint Against Boone Advisor
Capital Investment Group financial advisor Seth Nannini (CRD# 4406510) recently received an investor complaint concerning an investment in GWG Holdings. Financial Industry Regulatory Authority records show that he is a broker and former investment advisor based in Boone, North Carolina.
Mr. Nannini’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in July 2022, alleges that as a representative of Capital Investment Group, his description of a GWG Holdings investment omitted the product’s high-risk nature and referred to it as “a bond investment.” The pending complaint alleges damages of $40,000.
A second complaint, filed in 2016, alleged that as a representative of Capital Investment Group, Mr. Nannini committed fraud, negligently misrepresented material information regarding a promissory note investment, and violated the North Carolina Securities Act. In 2017 the complaint reached a settlement of $60,000.
A 2018 disclosure on Mr. Nannini’s BrokerCheck report describes his sanction by FINRA over findings he “participated in private securities transactions totaling $291,500 without providing written notice to or approval from his member firm.” According to FINRA, he solicited and facilitated two customers’ investments, totaling $290,000, “in a biotech manufacturing company.” In one customer’s case, he allegedly “routed” the funds through a third-party IRA account, “which made it more difficult for the firm to identify that the customer was investing in the company.” The biotech company in question eventually filed for bankruptcy “prior to making payments to either customer.” FINRA suspended Mr. Nannini for four months and ordered him to pay restitution of $7,500.
According to the Financial Industry Regulatory Authority, Seth Nannini holds 20 years of securities industry experience. Based in Boone, North Carolina, he has been a broker with Capital Investment Group since 2006. His past registrations include MML Investors Services, Equity Services, Veravest Investments, Morgan Stanley, and Morgan Stanley DW. His credentials include the passage of four securities industry qualifying examinations: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Florida, Georgia, Indiana, North Carolina, South Carolina, Tennessee, Texas, and Virginia. (Information current as of August 21, 2022.)
Carlson Law represents several investors involved in GWG L bond claims against financial advisors and investment firms throughout the United States. If you or a loved one have suffered losses investing in GWG L bonds, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.