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FINRA Disciplines Former VSR Financial Broker Steven L. Stahler Over Sales of REITs and Private Placements

During August 2014, Financial Industry Regulatory Authority (FINRA) filed a complaint against Steven L. Stahler, formerly a broker with VSR Financial Services, for making unsuitable recommendations to his customers. Allegedly, Stahler recommended high concentrations of private placements and real estate investment trusts (REITs) that exceeded his clients’ stated risk tolerance and investment objectives.

His recommendations included the following:

• AmREIT Monthly Income & Growth Fund

• Arciterra Whitefish Opp Fund

• Arciterra Real Estate Inv. Trust

• Atlas Resource Public #17-2008

• Behringer Harvard Opp REIT I

• Bradford Drilling Assoc.

• Cole Credit Prop. Trust II

• CNL Income Fund

• Cypress Equipment Fund XII

• Cypress Growth Fund

• Cypress Income V

• Florida Capital Real Estate Partners

• Icon Leasing Fund Eleven

• Inland American REIT

• KBS Real Estate Trust

• Laeroc Edge Fund

• Lease Equity Appreciation Fund II

• LEAF Equipment Leasing Income Fund III

• LEAF Commercial Finance Fund 8.25% note

• Mewbourne Energy Partners

• MPF Income Fund

• MPF Senior Note Program

• Odyssey Diversified Notes VII

• Odyssey Operating Partnership II

• Odyssey Residential II 9% Notes

• United Development Funding

Prior to this case, FINRA had fined VSR Financial $550,000 in 2013 for failing to establish and enforce a reasonable supervisory system regarding the sale of alternative or non-conventional investments.

Stahler has worked with Berthel Fisher & Co., Ausdal Financial Partners, Lowell & Company, Inc. since leaving VSR.

If you have suffered significant losses as a result of your investment with VSR Financial Services, Steven L. Stahler, or another firm, you may have a valid securities arbitration claim. To find out more about your legal rights and options, contact a securities fraud attorney at Law Office of Christopher J. Gray, P.C.  at (866) 966-9598 or for a no-cost, confidential consultation.

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