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Read MoreGWG Complaint Against Tim Scanlon, Scottsdale Advisor
Arque Capital financial advisor Tim Scanlon (CRD# 1968597) recently received an investor complaint alleging that investments in GWG Holdings resulted in seven-figure losses. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor based in Scottsdale, Arizona.
Mr. Scanlon’s BrokerCheck report discloses four recent investor complaints. The most recent, filed in September 2022, alleges breach of fiduciary duty, breach of contract, and negligence in connection with the sale of GWG products. The pending complaint alleges damages of $1,700,000.
A second investor complaint, filed in July 2022, alleges violation of state and federal securities laws, fraudulent business practices, breach of contract, common law fraud, negligence, gross negligence, and breach of fiduciary duty. The pending complaint alleges damages of $281,000.
A third investor complaint, filed in July 2022, alleges breach of contract, promissory estoppel, violations of state securities law, and breach of fiduciary duty connected with the sales of alternative investments. The pending complaint alleges damages between $50,000 and $100,000.
A fourth investor complaint, filed in April 2022, alleges supervisory failures, due diligence failures, and unsuitable investment advice. The pending complaint alleges damages of $100,001.
According to the Financial Industry Regulatory Authority, Tim Scanlon holds 32 years of securities industry experience. Based in Scottsdale, Arizona, he has been a broker and an investment advisor with Arque Capital since 2008 and 2011, respectively. His past registrations include Fox & Company Investments (Scottsdale, Arizona; 1997-2008), Prudential Securities (New York, New York; 1995-1997), and Merrill Lynch (New York, New York; 1989-1994). His credentials include the passage of five securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He holds 32 state licenses. (Information current as of October 19, 2022.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.
