Securities Fraud Lawyer Blog
CA Dept. of Business Oversight Settles Claim Over George Pidgeon Fund Raising for Francis Capital Management
The securities attorneys at The Law Office of David Liebrader have opened an investigation into the sales activity of George Pidgeon, a former registered representative with Triple A Partners of Los Angeles, CA. Pidgeon’s activities raising funds for Francis Capital Management were the subject of two regulatory filings by the California Department of Business Oversight and the Department of Corporations.
The pending regulatory filling that gives rise to this investigation is the CA Department of Business Oversight’s settlement agreement with Francis Capital Management dated June 3, 2019 whereby the Commissioner of the Department determined that Francis Capital Management engaged George Pidgeon as an unregistered solicitor/investment advisor who introduced investors to Francis Capital Management’s funds, and compensated the broker dealers with whom Pidgeon was affiliated with for his efforts in raising capital for the firm. The Commissioner also determined that FCM made untrue statements to the Commission concerning Pidgeon’s employment. This settlement follows the June, 2018 filling of a statement in support of an order imposing administrative penalties against Francis Capital Management whereby the facts state that Pidgeon was paid over $300,000 is sales compensation and finder’s fees by FCM.