Wells Fargo Advisors Broker Andrew Kuehle and Sara Merkamally Royal Bank of Scotland, Wells Fargo ADRS Series S San Jose, California

This is a warning to not buy any Royal Bank of Scotland investment products.  They are desperate and need to raise capital.  In 2007 Andrew Kuehle and his assistant Sara Merkamally (she supposedly handles investments below $250,000...this is Andrew Kuehle's excuse in complaints filed by customers) sold me Royal Bank of Scotland ADRs Series S.

There was a class action lawsuit against Royal Bank of Scotland.  In January of 2011, a New York judge dismissed the case because she said it should be handled in Scotland...not in U.S. courts.  If you do an internet search and type in Royal Bank of Scotland class action lawsuit, you will find a detailed explanation.  We believe there will be an appeal.

Royal Bank of Scotland offered a cash tender offer in December of 2010.  There were instructions that prevented anyone from getting advice from the brokers who sold the ADRs to customers.

I had $180,000 invested.  I paid $25 a share and accepted $14 a share in the cash tender offer.  I received approximately $100,000.  I lost approximately $80,000.  I was receiving over 6% interest but, Royal Bank of Scotland was going to stop paying the 6% dividends.  I was advised by the Royal Bank of Scotland cash tender offer that I would not be able to sell the shares because who would buy shares that were not going to get dividends.

Today the shares are worth about $14.00.  I believe they might be trying to sell these securities right now.  I don't have the inside story, but it sounds like they are.

I received a call from Andrew Kuehle and Sara Merkamally in 2008  trying to sell me Citigroup and Merrill Lynch.  Thankfully, I was aware of what was going on.  I declined but not before I could cancel the sale of South Placer Bonds that Andrew Kuehle had suggested I sell in order to buy Citigroup.

In my opinion, you should be very wary of any investment offers from banks and financial advisors.  They are like everyone else...they have big houses with big loans and are desperate to make their house payments.

Again, this is a warning to not invest in Royal Bank of Scotland.  They are desperate to raise capital right now..just as they were in 2007.