Advisor Alert: Our Attorneys Are Investigating Ray Gene Reese For Investment Fraud
Did You Lose Money Because of Ray Reese?
Filed: March 4, 2024
Ray Reese currently has one (1) pending customer complaint. Overall, he has been the subject of seven (7) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Ray Gene Reese.
Who Is Ray Gene Reese of Money Concepts Capital Corp and Money Concepts Advisory Service?
- Advisor Name: Ray Gene Reese
- Aliases: Ray Reese
- CRD: 1694620
- Location: Farmington, Missouri
- Current Employer: Money Concepts Capital Corp and Money Concepts Advisory Service
- Previous Firms: Pruco Securities Corporation, The Prudential Insurance Company of America, and Hibbard Brown & Co., Inc.
- Number of Known Customer Complaints: 7
- Can Ray Reese Be Sued: Yes, in Private Arbitration
- Can Ray Reese’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $450,000
- Highest Settlement: $110,000
If you have suffered investment losses by Ray Reese, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a breach of fiduciary duty lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Ray Reese For Broker Misconduct
As of this publication date, Ray Reese has been the subject of 7 customer disputes. Let’s review them below.
In May 2023, a FINRA arbitration was filed against or in reference to Ray Reese by a customer of Money Concepts Capital Corp alleging breach of fiduciary duty, suitability, and misrepresentation. Per the customer, she lost over $450,000 because of Mr. Reese’s actions. As of this publication date, this claim remains pending.
In August 2021, a FINRA arbitration was filed against or in reference to Ray Reese by a customer of Money Concepts Capital Corp alleging unsuitable recommendations in violation of FINRA Rule 2111, material misrepresentations and omissions in violation of Federal Law, Blue Sky Laws and FINRA Rule 2020, and violation of fiduciary duty. Per the customer, he/she lost over $90,000 because of Mr. Reese’s actions. On March 4, 2022, Mr. Reese settled the claim for $40,000, and some or all of this amount may have been paid by Mr. Reese’s employer and/or insurance carrier.
In November 2020, a FINRA arbitration was filed against or in reference to Ray Reese by a customer of Money Concepts Capital Corp alleging unsuitable investment, breach of fiduciary duty, violation of Missouri’s Securities Act, common law fraud, breach of contract, and negligence/misrepresentation/omission. Per the customer, he/she lost over $400,000 because of Mr. Reese’s actions. On June 8, 2022, Mr. Reese settled the claim for $110,000, and some or all of this amount may have been paid by Mr. Reese’s employer and/or insurance carrier.
In June 2020, a complaint was filed against or in reference to Ray Reese by a customer of Money Concepts Capital Corp alleging that the account was not set up correctly causing a tax liability. Further, the client alleges she will lose the investment property at a rate of 8% which will cause an approximate $100,000 she could have earned over the years, if invested correctly, up to her retirement. Per the customer, she lost over $200,000 because of Mr. Reese’s actions.
In February 2015, a complaint was filed against or in reference to Ray Reese by a customer of Money Concepts Capital Corp alleging that financials noted on Aztec new account form are not correct and her father did not qualify as an accredited investor. Also, she is alleging her father’s ARC BDCA is decreasing at an frightening rate. Per the customer, she lost over $125,000 because of Mr. Reese’s actions. On June 22, 2016, Mr. Reese settled the claim for $95,000, and some or all of this amount may have been paid by Mr. Reese’s employer and/or insurance carrier.
In June 2002, a complaint was filed against or in reference to Ray Reese by a customer of Pruco Securities alleging misrepresentation. Per the customer, he/she lost over $5,162.97 because of Mr. Reese’s actions.
In March 1999, a complaint was filed against or in reference to Ray Reese by a customer of Prudential alleging misrepresentation concerning the purchase of a variable annuity. Per the customer, he/she lost over $5,647.50 because of Mr. Reese’s actions. On May 25, 2016, Mr. Reese settled the claim for $7,688.27, and some or all of this amount may have been paid by Mr. Reese’s employer and/or insurance carrier.
How To File A Claim Against Ray Reese of Money Concepts Capital Corp and Money Concepts Advisory Service (previously with Pruco Securities Corporation, The Prudential Insurance Company of America, and Hibbard Brown & Co., Inc.) To Get Your Money Back
If you have questions about Ray Reese, Money Concepts Capital Corp, Money Concepts Advisory Service, Pruco Securities Corporation, The Prudential Insurance Company of America, Hibbard Brown & Co., Inc., or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.