Former broker John H. Towers (Dallas, Texas) Accepts Fine and Suspension from the Securities Industry

John H. Towers agreed to a Financial Industry Regulatory Authority (FINRA) Acceptance, Waiver and Consent (AWC) action stemming from the sale of high risk alternative investments, including private placements and real estate investment trusts (REITs) while working as a registered principal and broker with VSR Financial Services, headquartered in Topeka, KS.

The regulatory action resulted in a three month suspension and a fine of $25,000.00.  The full text of the action and may be found on the FINRA website under regulatory action No. 2012032353201. Our investigation has concluded that this is not the only instance involving Mr. Towers and the sale of high risk investments as evidenced by at least a dozen pending and similar complaints involving the sale of high risk alternative (REITs, Private Placements and Limited Partnership) investments to clients. The experienced securities fraud attorneys at Colling Gilbert Wright have recovered alternative investment losses on behalf of dozens of investors. We encourage you to contact our office for a free case evaluation if you have invested in alternative investments through John Towers, VSR Financial Services or another broker dealer.