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  • Report: #1068377

Complaint Review: Charles gallamore

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  • Submitted: Fri, July 19, 2013
  • Updated: Fri, July 19, 2013

  • Reported By: Annonimous68 — Dallas Texas
Charles gallamore
Dallas, Texas USA

Charles gallamore Charles gallamore fraud and manipulator Dallas Texas

*REBUTTAL Individual responds: Girlfriend's Nuts

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Charles Lee Gallamore (CRD #2443271, Registered Principal, Prosper, Texas) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Gallamore consented to the described sanction and to the entry of findings that he raised over $1.5 million from investors through offers and sales of limited partnership interests in a hedge fund, and made numerous misrepresentations in connection with the offers and sales that were inconsistent with the private placement memorandum (PPM). The findings stated that Gallamore used over $1.3 million of the funds raised to invest in promissory notes issued by private companies in which he had a controlling interest, and made misrepresentations regarding the fund’s investment strategy, the concentration of investment funds in particular investments; the use of funds, and the amount of management fees and other expenses charged to the fund. [continued below]....

..... The findings also stated that Gallamore omitted to timely disclose material facts including that he exercised sole discretion over the fund’s operations, and misused customer funds received in connection with the fund offering by obtaining debit cards linked to accounts and utilized the cards to pay for personal and non-business related expenses. The findings also included that Gallamore caused funds from the various accounts to be transferred to his personal brokerage account and caused monthly payments for non-business related expenses to be drafted from one of the accounts. FINRA found that Gallamore, through his member firm, conducted an unregistered offering of the securities of an entity for which there was no available exemption due primarily to the offering being conducted pursuant to a general solicitation, and failed to timely disclose to investors that the firm was under common control with the issuer, in that he owned both entities. FINRA also found that Gallamore failed to properly supervise the activities of a registered representative for whom he had supervisory responsibility, and failed to review the representative’s email correspondence. (FINRA Case #2008011629601) 






This report was posted on Ripoff Report on 07/19/2013 09:36 AM and is a permanent record located here: http://www.ripoffreport.com/r/Charles-gallamore/Dallas-Texas/Charles-gallamore-Charles-gallamore-fraud-and-manipulator-Dallas-Texas-1068377. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 REBUTTAL Individual responds

Girlfriend's Nuts

AUTHOR: Charles - ()

While I did sign a consent and waiver form with FINRA when the market crashed and hiring counsel during exams and audits was not "in my budget" at the time, I was not ever charged, convicted or found guilty of any wrong doing in relation to the former securities firm and hedge fund I ran.  I certainly had some bad judgement and poor management at the time, but nothing which entails fraud etc. as suggested in the title of this report.  The girl behind this has done this type of disparaging activity a number of times.  She seemingly has nothing better to do with her time.  Sad thing is that a company like "ripoff" does not care.  They have policy that states there is freedom of speech and they can't control what she or anyone who wants to damage someone miliciously does on their site.  Just like the prostution sites that say "they are not involved, only publishing."  I guess the pen is mightier than the sword.  Sad that a person can be so mean.  If you have any questions about the validity of this report, feel free to call me.  214-995-3267

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