william s. sheehanFitapelli Kurta, New York City based stock fraud attorneys, are investigating tenant in common (TIC) investments sold by William S. Sheehan, a registered broker with DFPG Investments.

William S. Sheehan has received seven investor complaints in the last four years. Three investor complaints are currently pending arbitration with the Financial Industry Regulatory Authority (FINRA). One pending investor complaint, filed on May 22, 2014, alleges William S. Sheehan recommended unsuitable investments and failed to conduct due diligence on those investments. That customer is seeking $1.7 million in damages against William S. Sheehan.

Another pending investor complaint, filed November 12, 2013 alleges unsuitability for investments made in 2007, while William S. Sheehan was employed by Omni Brokerage Inc. That customer is seeking $450,000 against William S. Sheehan.

Yet another pending investor complaint alleges unsuitable investments made in 2007, once again while William S. Sheehan was employed at Omni Brokerage Inc. The customer in that case, filed July 1, 2013, is seeking $360,000 in damages against William S. Sheehan.

Several customer complaints filed by investors against William S. Sheehan settled before reaching an arbitration panel. For example. One investor complaint, filed May 16, 2013, settled for over $28,000. The customer in that case had alleged unsuitable TIC investments.

Another investor complaint, filed on March 4, 2013, alleged unsuitable investments in 2005 and 2006. The investor received $175,000 in settlment.

More allegations and complaints of unsuitable investments keep appearing on William S. Sheehan’s BrokerCheck Report, including another complaint that William S. Sheehan made unsuitable investment recommendations to an investor around 2007. That case settled for over $280,000.

Finally, in 2010 an investor alleged that William S. Sheehan made misrepresentations about a 1031 exchange which resulted in a large financial loss by the investor. That case settled for $200,000.

Thousands of investors are losing money every year by way of these TIC investments or 1031 exchanges, and Fitapelli Kurta sues broker-dealer firms on behalf of those aggrieved investors.

If you or someone you know has lost money through a TIC investment, a 1031 exchange, or through William S. Sheehan, DFPG Investments, or any of their other brokers, contact Fitapelli Kurta today.

The law offers investors a path of recovery by way of arbitration through FINRA, however time to file a claim with FINRA is limited so please, do not delay. Call now to speak directly to an attorney. All cases are taken on a contingency fee basis and our consultations are always free.

Call Fitapelli Kurta now at 212-658-1502 for your free consultation.