In an arbitration award published by FINRA on April 21, 2021, Sandlapper Securities, LLC was ordered to pay damages to a Claimant over her losses in the GPB Automobile Portfolio fund.
Sandlapper Securities, LLC and former firm broker James Dwight McPherson were held jointly and severally liable for violating the Florida Securities and Investor Protection Act. The arbitration panel awarded the Claimant a total of $125,000 in compensatory damages and attorneys’ fees, plus interest. Sandlapper Securities, LLC is solely liable for $100,000 of the award.
The hearing was based in Boca Raton, Florida, and was conducted by videoconference.