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If You Suffered investment Losses in Zona Energy, Inc., Contact KlaymanToskes Immediately
NEW YORK, NY, UNITED STATES, January 31, 2025 /EINPresswire / -- National investment loss and securities lawyers KlaymanToskes issues an important notice to all Arete Wealth Management and Arete Wealth Advisors customers who were recommended to invest in Zona
energy Inc. by their broker/investment advisor. The law firm urges investors who have suffered significant losses to contact the firm immediately at 888-997-9956.
KlaymanToskes is investigating Arete Wealth Management and Arete Wealth Advisors on behalf of investors who were misled into purchasing unapproved Zona Energy Inc. investments. According to a complaint from the Securities and Exchange Commission (SEC), Arete Wealth Management and its advisors failed to act in the best interest of their clients by engaging in "selling away," a prohibited practice in which financial advisors sell securities not approved by their firm, exposing investors to undisclosed risks and potential financial losses.
According to the SEC, (Case no. 1:25-cv-00616), Arete Wealth representatives-including Joey Miller, Jeff Larson, and Randy Larson-sold more than $8,000,000 worth of Zona Energy Inc. shares to over 120 investors without firm authorization. These investors were led to believe they were making legitimate investments, when in reality, they were purchasing unapproved and highly speculative securities that lacked proper oversight and due diligence.
Further allegations suggest that Arete Wealth's Chief Compliance Officer and General Counsel, UnBo (Bob) Chung, actively attempted to cover up the misconduct. The SEC's findings indicate that Chung assisted Arete representatives in obtaining broad liability releases from investors who were unaware of the true nature and risks of their Zona Energy Inc. investments. These liability releases allegedly contained false statements, misrepresenting the advisors' roles and misleading investors into believing the firm had no responsibility.
The SEC alleges that the Arete representatives' misconduct occurred while Arete Advisors failed to comply with important compliance requirements and Arete Wealth failed to comply with key recordkeeping requirements, indicating a systemic failure in the firm's operational and regulatory practices.
Customers of Arete Wealth Management or any other brokerage firm who suffered investment losses in Zona Energy are encouraged to contact attorney Steven D. Toskes at (888) 997-9956 or by email at ... in furtherance of our investigation.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
...
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Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.