Investigation: Sandlapper Securities, LLC, and Brokers Trevor Lee Gordon and Jack Charles Bixler

Investigation--Sandlapper-Securities
The Financial Industry Regulatory Authority (FINRA) has filed a complaint against Greenville, South Carolina-based brokerage firm Sandlapper Securities, LLC (CRD#: 137906), as well as two of its financial representatives, Trevor Lee Gordon (CRD#: 2195122) and Jack Charles Bixler (CRD#: 22331). Mr. Gordon and Mr. Bixler have both been representatives of the firm since 2006.

In its legal complaint (No. 2014041860801), FINRA alleges that these two men, through their brokerage firm, defrauded investors by selling certain securities at undisclosed markups. During the relevant time period in this case, Trevor Lee Gordon was the Chief Executive Officer (CEO) of Sandlapper Securities and Jack Charles Bixler was President of the Sandlapper Capital Markets Division. Here, our investment fraud lawyers review the specific allegations raised by FINRA.

 

FINRA Complaint: Sandlapper Securities, Trevor Lee Gordon, Jack Charles Bixler

From 2011 to 2015, Sandlapper was selling securities in a company call Saltwater Disposal. This company made its revenue by getting rid of certain undesired runoffs created in oil and gas extraction. Sandlapper, Mr. Gordon, and Mr. Bixler started an investment fund to sell interests in this company.

According to the investment offering that was presented to actual and prospective investors, there was no conflict of interest between Sandlapper Securities and the fund being offered by Mr. Gordon and Mr. Bixler. Investors were informed that Sandlapper Securities would obtain independent appraisals in any transactions with affiliates such as the Saltwater Disposal fund.

However, FINRA alleges that the reality was different. Through material misrepresentations and the omissions of relevant facts, Mr. Gordon and Mr. Bixler sold securities to investors with massive, undisclosed markups. FINRA states that these markups were between 160 percent and 270 percent. According to investigators, the fraudulent markups totaled more than $8 million. FINRA is seeking relief, including:

 

Get Help From an Investor Losses Attorney Today

At Sonn Law Group, we are proud to be strong advocates for investors nationwide. If you or your loved one was the victim of broker fraud, our legal team can help. To arrange a free, fully private investor losses consultation, please contact us today.

Disclaimer: This article contains opinions and NOT statements of fact in any way whatsoever. The information here is general information that should not be taken as legal advice. NO attorney-client relationship is established between you and our attorneys by reading this article. This article is attorney advertising and should not be used as a substitute for legal advice from a qualified securities lawyer.

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