Investigating Gihan Fernando’s Troubling Record
Meyer Wilson is currently investigating the alarming allegations against Gihan Anil Fernando (also known as Gihan Raphael Fernando or Raphael Fernando), a broker currently associated with Cetera Investment Services LLC of Houston, Texas, and formerly with BOK Financial Advisors of Bellaire, Texas.
If you have invested with Gihan Anil Fernando and suffered losses, our experienced legal team is here to help. Contact us for a confidential consultation and provide any relevant documentation related to your dealings with this broker. We understand the emotional and financial toll that financial misconduct can take on an individual investor and hate to watch it happen. Our compassionate and dedicated team will guide you through this challenging process, ensuring that your rights are protected and your voice is heard.
Allegations of Misrepresentation by Fernando
According to FINRA’s BrokerCheck, Fernando has accumulated an alarming 56 customer disputes during the period from 2020 to 2024, placing him in the bottom one-hundredth percent of all registered representatives for customer complaints. This statistic raises significant concerns about his conduct.
The majority of these customer complaints allege misrepresentations regarding certain features of the products during the sales process.
The complaints deal with non-traded real estate investment trusts and business development companies.
Many of these disputes have been settled, with settlement amounts exceeding $100,000 in some cases.
We Have Recovered Over
$350 Million for Our Clients Nationwide.
What is a Non-Traded REIT?
Non-traded real estate investment trusts (REITs) continue to be a popular investment in the current market, but many people don’t understand how they really work. The potential for financial harm can be high if you put your money into an unsuitable non-traded REIT and don’t take into account how well it works in your overall financial picture.
Non-traded REITs do not trade on a public exchange. A broker can show the purchase price of the REIT (typically $10 per share) for a long time before establishing a market value. Although the broker only has 18 months after the offering period ends to establish the market price, the offering period is often as long as 3 years or more. This means the purchase price could be reported for as long as 4 or 5 years before a market price is established. During that time period, investors may have a tough time figuring out the real value of the REIT like in the circumstances surrounding Fernando.
Additionally, the amount actually invested in the REIT could be as much as 15% less than you put up. Some of the cash goes into commissions to the broker, and some will go into various up-front fees. Even though these amounts are subtracted, the brokerage statement will still show the value of the REIT as though those fees and commissions were not subtracted.
Seek Legal Representation for Investment Losses in Non-Traded REITs
Are you an investor who has suffered financial losses due to the actions or recommendations of your broker or financial advisor? Meyer Wilson is a leading law firm dedicated to advocating for investor rights and holding brokers accountable for their broker misconduct. We have several decades of experience representing investors who have lost money in non-traded REITs.
Contingency Fee Representation
At Meyer Wilson, we represent clients nationwide before FINRA on a contingency fee basis, ensuring that you do not pay any fees unless we successfully recover your losses. Take action today and protect your rights as an investor.
If you have experienced financial losses due to the actions or recommendations of Gihan Anil Fernando, Meyer Wilson encourages you to contact them at 866-938-2021 or visit investorclaims.com. Our experienced securities fraud attorneys are ready to discuss the potential recovery of your investment losses through a FINRA arbitration at no cost to you.
Written By: Courtney Werning, Esq.
Recovering Losses Caused by Investment Misconduct.