JEFFREY ALAN DESICH is currently employed as a Broker and/or Investment Adviser at ETC BROKERAGE SERVICES, LLC located at 1 Equity Way, Westlake, OH, 44145.
JEFFREY ALAN DESICH has worked at ETC BROKERAGE SERVICES, LLC since January 04, 2012
JEFFREY ALAN DESICH has 2 Disclosure Event(s).
Date: January 31, 2014 Category: Customer Dispute Allegations: SUIT WAS FILED IN LORAIN COUNTY, OHIO COMMON PLEAS COURT AS A PURPORTED CLASS ACTION, NAMING JEFFREY DESICH, EQUITY TRUST COMPANY AND EQUITY ADMINISTRATIVE SERVICES AS CO-DEFENDANTS. THE SUIT CLAIMS INVESTMENT LOSSES OF $232,000 IN THE PLAINTIFFS' IRAS' FOR WHICH EQUITY TRUST CO. SERVED AS CUSTODIAN. THE LOSSES WERE ALLEGEDLY DUE TO FRAUDULENT INVESTMENT SCHEMES BETWEEN 2008 - 2010 BY THIRD PARTY PROMOTERS UNAFFILIATED WITH JEFFREY DESICH OR EQUITY TRUST CO. IN ADDITION, THE SUIT ASSERTS CLAIMS FOR BREACH OF CONTRACT, FRAUD, BREACH OF FIDUCIARY DUTY, CONVERSION AND CONSPIRACY SEEKING COMPENSATORY AND PUNITIVE DAMAGES ARISING FROM EQUITY TRUST'S ROLE AS AN IRA CUSTODIAN AND ITS METHOD OF OPERATIONS. ETC BROKERAGE SERVICES IS NOT A PARTY TO THE SUIT AND NONE OF THE PLAINTIFFS ARE CUSTOMERS OF THE FIRM. Damage Amount Requested: $232,000.00 Broker Comment: NONE OF THE DEFENDANTS BELIEVES THE SUIT TO HAVE MERIT AND THEY INTEND TO VIGOROUSLY DEFEND THE CLAIMS. THIS NOTIFICATION IS MADE AS A PRECAUSTIONARY FILING, SINCE THE SUIT MAY BE CONSIDERED TO INVOLVE INVESTMENT RELATED LITIGATION INVOLVING SALES PRACTICES VIOLATIONS.
Date: November 30, 2013 Category: Customer Dispute Allegations: THIS SUIT WAS FILED AGAINST EQUITY TRUST CO., RICHARD DESICH, JEFFREY DESICH AND OTHERS IN THE U.S. DISTRICT COURT, WESTERN DISTRICT OF TEXAS DUE TO THE LOSS OF PLAINTIFF'S PRECIOUS METALS INVESTMENT IN HER IRA WITH STERLING TRUST CO. AS CUSTODIAN IN 2009, PRIOR TO EQUITY TRUST'S PURCHASE OF STERLING TRUST'S IRA BUSINESS. PLAINTIFF ALLEGES THAT EQUITY TRUST AND ITS CO-DEFENDANTS ACTED WRONGFULLY IN NOT PROMPTLY INFORMING HER OF THE ALLEGED LOSS OF HER INVESTMENT. PLAINTIFF ASSERTS RICO CLAIMS, FRAUD, NEGLIGENCE, CONVERSION, MIS-REPRESENTATION AND VIOLATION OF THE TEXAS DECEPTIVE TRADE PRACTICE ACT AND SEEKS PUNITIVE AND TREBLE DAMAGES. ETC BROKERAGE SERVICES IS NOT A PARTY TO THE SUIT AND THE PLAINTIFF IS NOT A CUSTOMER OF THE FIRM. Damage Amount Requested: $150,000.00 Broker Comment: THE DEFENDANTS DO NOT BELIEVE THE SUIT HAS MERIT AND THEY INTEND TO VIGOROUSLY DEFEND THE CLAIMS. THIS NOTIFICATION IS MADE AS A PRECAUTIONARY FILING, SINCE THE SUIT MAY BE CONSIDERED TO INVOLVE INVESTMENT RELATED LITIGATION INVOLVING SALES PRACTICES VIOLATIONS.
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