Did You Invest In 1st Global Capital Or 1st West Capital Through Henry Wieniewitz a/k/a Trae Wieniewitz Or Wieniewitz Wealth Management a/k/a Wieniewitz Financial In Knoxville, Tennessee
The Wolper Law Firm is currently investigating claims against Henry Wieniewitz a/k/a Trae Wieniewitz and his advisory firm, Wieniewitz Financial a/k/a Wieniewitz Wealth Management, in Knoxville, Tennessee. The Wolper Law Firm has been contacted by investors of Trae Wieniewitz and his advisory firm, Wieniewitz Financial, who were sold unregistered promissory notes issued by 1st Global Capital, LLC and 1st West Capital, LLC.
On August 13, 2018, the Wolper Law Firm announced that it was investigating potential securities fraud violations perpetrated by 1st Global Capital and 1st West Capital, which filed for bankruptcy protection on July 27, 2018 in the Southern District of Florida. It was revealed in bankruptcy court filings that the “Securities and Exchange Commission (SEC) opened an investigation into the companies’ activities related to alleged possible securities law violations, including the alleged offer and sale of unregistered securities, the alleged sale of securities by unregistered brokers, and the alleged commission of fraud in connection with the offer, purchase and sale of securities.”
The United States Attorney has since opened a parallel investigation into the business practices of the companies.
1st Global Capital, LLC and 1st West Capital, LLC are based in Hallandale, Florida. The companies operate in the financial services industry, offering direct merchant cash advances to small businesses across the United States. Through independent sales organizations, underwriters and other funding agents, the companies offer a variety of short-term cash advances.
The companies raise capital to finance their business operations through private loans typically repayable in nine months. The loans are memorialized by promissory notes.
It is alleged that unregistered brokers sold promissory notes issued by 1st Global Capital, LLC and 1st West Capital, LLC to retail investors. The promissory notes were marketed as safe, short term, fixed income instruments that could generate above-average rates of return for investors. Investors were neither aware that 1st Global Capital, LLC and 1st West Capital, LLC were in a precarious financial condition nor that the companies were being investigated by the SEC and US Attorneys’ office for securities fraud.
If you or someone you know was a customer of Trae Wieniewitz and his advisory firm, Wieniewitz Financial, or were sold promissory notes issued by 1st Global Capital or 1st West Capital, please contact the Wolper Law Firm at 800.931.8452 or by email at firstname.lastname@example.org to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.
Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.