Our investment fraud attorneys are currently investigating allegations
that Richard Gomez defrauded investors while registered with Legend Securities, Inc.
The Financial Industry Regulatory Authority (FINRA) has accused Richard
Gomez (CRD# 4727721) of defrauding seven investors out of at least $499,000
between June 2011 and November 2011. During this period, Gomez was employed
as a broker with Legend Securities, Inc. in New York City.
In a complaint filed by the FINRA Department of Enforcement on April 8, 2015, Gomez is
accused of using two separate private securities schemes to defraud investors.
Gomez allegedly sold membership interests in entities affiliated with
Praetorian Global Fund, Ltd., which claimed to offer the benefit of
IPO shares of major companies like Facebook and Groupon, and
US Coal Corporation, Inc.
Gomez allegedly told his clients that US Coal was planning an IPO, when
in fact US Coal had no concrete plans at the time for doing so. US Coal
went bankrupt in 2014, never having issued an IPO.
In its Complaint, FINRA alleged that Gomez should have known more about
the investments he was recommending to his customers, such as the fact
that Praetorian’s fund manager had a lengthy rap sheet that included
multiple theft convictions. Several other people affiliated with Praetorian
had also been named in various fraud lawsuits.
Just three months before Gomez allegedly began soliciting Praetorian to
his clients, the Securities and Exchange Commission had filed a lawsuit
against a Praetorian associate. According to FINRA’s complaint,
Gomez either “missed or ignored numerous red flags.”
If you invested in Praetorian Global Fund or US Coal Corporation at the
recommendation of Richard Gomez, we invite you to contact a stockbroker
fraud lawyer at Meyer Wilson for a
free review of your case.