The FINRA Department of Enforcement recently filed a complaint against VFG Securities, Inc. (CRD #15121) and Jason Bryce Vanclef (CRD #5096529). According to the complaint, during the time between September 2009 and January 2013, Vanclef and VFG Securities distributed The Wealth Code: How the Rich Stay Rich in Good Times and Bad. This is a book written and published by Vanclef.
The complaint alleges that Vanclef used his book to promote various investments in non-traded Real Estate Investment Trusts and non-traded Direct Participation Programs. He is accused by FINRA of luring investors to these products, leading to 95% of the company’s revenue between November 2010 and June 2012 to come from non-traded DPPs and non-traded REITs.
Vanclef allegedly makes claims in the book regarding the high return and capital preservation of both non-traded REITs and non-traded DPPs, which FINRA says are inaccurate and misleading to the customer. The information provided in the prospectuses for the instruments sold by Vanclef and VFG Securities allegedly contradicted the claims from the book.
At Meyer Wilson, our securities fraud attorneys are dedicated to protecting the rights of investors who may have been defrauded based on false claims from a broker or brokerage firm. If you invested and lost money in non-traded DPPs or non-traded REITs based on the suggestions from Jason Bryce Vanclef and VFG Securities, Inc., call our firm and determine what options you may have. We offer free consultations to discuss the details of your matter and build a strong case to seek the recovery of your losses.