Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on October 29, 2016 indicate that Texas-based Titan Securities broker/adviser Richard Demetriou has received customer complaints and is the subject of a pending FINRA complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Demetriou (CRD# 828433).
Richard Demetriou has spent 40 years in the securities industry and has been registered with Titan Securities in Dallas, Texas since 2009. Previous registrations include Private Consulting Group in Tucker, Georgia; IFG Network Securities in Atlanta, Georgia; Derand/Pennington/Bass; Monarch Securities; Marion Bass Securities Corporation; Phoenix Financial Corporation; and NML Equity Services. He is a registered broker and investment adviser with four US states: Florida, Georgia, North Carolina, and Tennessee.
According to his BrokerCheck report, Richard Demetriou has received two customer complaints and one pending FINRA complaint.
In October 2016 Richard Demetriou was named respondent in a FINRA complaint alleging he “made misrepresentations to prospective investors in connection with his promotion of a Mississippi company involved in speculative real estate investments.” According to FINRA: “Demetriou made numerous misrepresentations to prospective investors in sales literature that he sent to them regarding the company. Demetriou sent several promotional emails to prospective investors, including four of his member firm’s customers, regarding the company’s investment. The emails contained statements for which Demetriou had no reasonable basis to believe were accurate. Demetriou did not take any steps to independently verify the information contained in the emails to prospective customers and had no basis to believe the statements were accurate. Instead, without conducting any meaningful due diligence, Demetriou blindly repeated information in the emails that he had obtained from the company’s representatives, including an individual who was barred from the securities industry for, among other things, securities fraud.” The action remains pending.
In 2014 a customer alleged Richard Demetriou, while employed at Private Consulting Group, made unsuitable investment recommendations. The complaint settled for $120,000.
In 2008 a customer alleged Richard Demetriou, while employed at Private Consulting Group, engaged in unspecified “wrongful acts” connected to transactions involving ClassicStar, LLC. The complaint settled in 2009 for $50,000.
If you have complaints regarding Richard Demetriou, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.