Securities law firm Carmel, Milazzo & DiChiara LLP (CMD) is investigating complaints against broker-dealer Portfolio Advisors Alliance, LLC and Howard J. Allen (CRD# 2033586).
According to the Financial Industry Regulatory Authority (FINRA), New York based brokerage firm Portfolio Advisors Alliance, LLC (CRD# 101680) has been the subject of at least 3 regulatory events, and Portfolio Advisors Alliance and Mr. Allen have been charged by the U.S. Securities and Exchange Commission (SEC) with repeatedly lying purchasing high yield securities. In addition, Howard J. Allen 4 regulatory events, 5 customer complaints, and the aforementioned SEC action.
On February 3, 2016, the SEC charged Portfolio Advisors Alliance and Howard J. Allen with repeatedly lying to investors purchasing high-yield securities. The SEC alleges that Portfolio Advisors Alliance and its owner Howard J. Allen and President Kerri Wasserman allegedly knew the offering documents were inaccurate yet continued using them to solicit sales of American Growth Funding II LLC. According to the SEC, Howard J. Allen became aware by no later than June 2012 that American Growth Funding II LLC’s offering documents were not accurate, but he continued using them to solicit investors.
If you or someone you know lost money investing with Portfolio Advisors Alliance, LLC and/or Howard J. Allen, you may be entitled to recover your investment losses through FINRA arbitration. CMD accepts cases on a contingency fee basis, which means we only get paid if you get paid. Your time to file a claim may be limited, so contact us today at (212) 658-0458 or firstname.lastname@example.org for a free and confidential case evaluation.