LaSalle Street Securities Representative Fined For Unapproved Private Placement Offerings
David Leonard Potter, of St. Petersburg, Florida submitted a Letter of Acceptance, Waiver and Consent in which he consented to, but did not admit to or deny, the described sanctions and the entry of the Financial Industry Regulatory Authority’s (FINRA) findings that he made “negligent misrepresentations to investors” in regard to private offerings his firm, LaSalle Street Securities, had yet to approve. Mr. Potter, former branch manager of LaSalle Street Securities’ Tampa, Florida office, ran an investment advisory business, Platinum Wealth Partners, Inc. (PWP) which he decided to expand in late 2012. Without the capital to do so, Mr. Potter commenced a PWP private placement offering in March 2013 to raise capital through the sale of convertible debenture units. The offering was a minimum and maximum offering requiring at least $1.5 million being raised before distribution.
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