DDC was asked to conduct due diligence on a financial advisor in FL who our client was currently using to manage approximately $100 million in assets. DDC found that the financial advisor: was not registered as a financial advisor; was not affiliated with any legitimate financial services firm (broadly defined) since 2005; was convicted twice for domestic violence; had a DUI; was subject to multiple restraining orders; had numerous liens and judgements against him; was evicted twice; was the subject (with various entities) as a defendant in 5 lawsuits alleging fraud / misrepresentation; had over a dozen failed / insolvent companies; most of which were selling annuities or multivitamins, and that the entity “advising” our client was not properly formed / was not in good standing.
Peter Barakett, President
DDC – Due Diligence Consulting LLC
