Anthony W. “Tony” Thompson Permanently Barred from FINRA
Anthony W. “Tony” Thompson, a real estate investor and the principal of Thompson National Properties, was barred from associating with any securities broker-dealer firm by the Financial Industry Regulatory Authority (“FINRA”) in an order released by FINRA on March 30, 2015.
Thompson was found by FINRA to have violated federal securities law and numerous rules of both FINRA and the National Association of Securities Dealers (“NASD”), FINRA’s predecessor, in connection with several securities offerings in the following real estate investment programs: TNP 2008 Participating Notes; TNP 12% Notes; and TNP PPP.
The Peiffer Wolf Carr & Kane Securities Lawyers Represent TNP Investors
The Peiffer Wolf Carr & Kane securities lawyers represent many investors in Thompson National Properties programs. They have filed three class actions on behalf of investors in TNP 2008 Participating Notes, TNP Strategic Retail Trust, and TNP 6700 Santa Monica Boulevard (“TNP Kodak”). They have also filed many FINRA arbitration cases on behalf of TNP program investors.
The Peiffer Wolf Carr & Kane lawyers are continuing to investigate this matter on behalf of TNP investors and are evaluating more legal proceedings on behalf of investors.
Thompson’s Securities Offerings in TNP 2008, TNP 12%, TNP PPP Violated the Securities Rules, According to FINRA
Starting in 2008, Thompson, through Thompson National Properties (“TNP”) and its subsidiary, TNP Securities, launched a series of private placement offerings designed to invest in real estate, according to the FINRA Order.
These programs included the TNP 12% Notes Program, the TNP 2008 Participating Notes Program (“TNP 2008”) and the TNP Profit Participation Program (“TNP PPP”), FINRA alleged.
Investments in the three programs were styled as “notes” offering high interests rates and purported to offer investors a guaranty on their money. However, each of these programs relied on TNP and TNP Securities for financial support, according to FINRA.
TNP struggled from the outset and quickly moved to a negative equity position, the FINRA Order stated. The three programs – TNP 2008, TNP 12%, and TNP PPP – whose performance was tied to TNP and TNP Securities also suffered, FINRA alleged.
Each of the programs released prospectuses and other investment documents to investors. FINRA stated that these documents contained misrepresentations and omissions of facts. FINRA determined that these misrepresentations and omissions violated various sections of the Securities Act of 1933, the Securities and Exchange Act of 1934, and NASD Rule 2110 and FINRA Rule 2010. As a result, FINRA has barred Thompson from associating with any FINRA member firm.
What Can Investors Do?
Joe Peiffer, Jason Kane, and other securities lawyers at the law firm of Peiffer Wolf Carr & Kane represent many investors who have been harmed by Thompson and TNP. They have filed three class-action lawsuits and numerous arbitrations across the country in which they have fought for compensation for investors in Thompson National Properties programs such as TNP 2008 Participating Notes, TNP Strategic Retail Trust, and TNP “Kodak” (TNP 6700 Santa Monica Boulevard).
Investors who have invested in TNP programs, including TNP 2008 Participating Notes, TNP 12% Notes, or TNP PPP, who believe they have been harmed by Thompson or TNP may contact the attorneys at Peiffer Wolf Carr & Kane for a free, no-obligation evaluation of their legal options at (216) 589-9280.