Daniel Poland, Broker with McNally Financial Services, Accused of Recommending GPB Capital Private Placements

Investors should seek damages after Poland recommended investments that were unsuitable. 

Daniel Poland (CRD: 1230652) is registered as a broker with McNally Financial Services where he has been employed since 2007. Previously, Poland was registered as a broker with Park Avenue Securities from 1999 until 2005. 

GPB Capital Holdings, a New York-based investment firm, offers exempt, private placement securities that are incredibly risky for investors. Brokers who recommended purchasing investments in GPB Capital Holdings may not have conducted appropriate due diligence on GPB’s funds. It is reported that brokers across the country raked in over $160 million in commissions. In February 2021, the SEC accused GPB and its founders of operating a $1.7 billion Ponzi-like scheme.

Poland has eight disclosures on his BrokerCheck report. 

March 2020 Judgment / Lien

• Judgment / Lien Amount: $7,920.85
• Judgment / Lien Type: Tax
• Broker Comment: The address on the lien was not correct and the rep was not aware.

February 2020 Judgment / Lien

• Judgment / Lien Amount: $46,481.26
• Judgment / Lien Type: Tax
• Broker Comment: The address on the lien was not correct and the rep was not aware.

September 2019 Judgment / Lien

• Judgment / Lien Amount: $7,991.48
• Judgment / Lien Type: Tax

June 2013 Judgment / Lien

• Judgment / Lien Amount: $163,122.66
• Judgment / Lien Type: Tax
• Broker Comment: The IRA tax lien is comprised of the following: 2003 – 25549.09; 2004 – 47946.65; 2005 – 19092.62; 2006 – 70534.30

April 2021 Regulatory Judgment

• Status: Final
• Initiated By: NASD
• Allegations: NASD Rules 2110, 3030 – Daniel Kieth Poland engaged in an outside business activity without providing prompt written notice to his member firm.
• Resolution: Acceptance, Waiver & Consent (AWC)
• Sanctions: Civil and Administrative Penalty(ies)/Fine(s)
• Sanctions: Suspension
• Regulator Statement: Without admitting or denying the findings, Poland consented to the described sanctions and to the entry of findings; therefore, he is fined $7,500 and suspended from any association with any NASD member in any capacity for 60 days. The suspension in any capacity is in effect from September 18, 2006 through November 16, 2006. Fines paid on 10/19/2007.

December 2005 Customer Dispute

• Status: Settled
• Allegations: Executris/beneficiary of decedent alleges improper activity by RR Poland in connection with estate. She seeks to recoup attorney fees.
• Damage Amount Requested: $19,351.00
• Settlement Amount: $24,245.92
• Broker Comment: For business reasons, PAS and the client agreed to settle the matter for $24,245.92 with no admissions of liability. Mr. Poland did not contribute to the settlement.

December 2005 Judgment / Lien

• Judgment / Lien Amount: $21,538.00
• Judgment / Lien Type: Tax

November 2005 Employment Separation After Allegations

• Firm Name: Park Avenue Securities
• Termination Type: Discharged
• Allegations: Mr. Poland engaged in an outside business activity but did not give PAS prior written notice, nor get prior approval.

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Daniel Poland. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.