Former First Liberties Financial Advisor Involved In Unsuitable Investment Recommendations

Posted on September 18th, 2014 at 8:41 AM

From the Desk of Jim Eccleston at Eccleston Law Offices

David Diehl, a former financial advisor at First Liberties Financial is alleged to have sold unsuitable investments, and made numerous misrepresentations in connection with those investors.  

From June 2011, Diehl recommended his clients to invest in a promissory note issued by a company called KABDAD, Inc., a Missouri Corporation, which owned restaurants in the St. Louis area called “It’s A Better Burger”. After making quarterly interest payments until September 2013, no further interest or principal on the note was paid.

Diehl was registered with seven different broker-dealers in eight years. From July 2010 to March 2012, Diehl was employed and registered with First Liberties, and operated a branch office for First Liberties. Before that, Diehl was registered with Workman Securities Corp., U.S. Bancorp, Berthel Fisher, USAllianz, and Vestpoint Securities. Diehl also operated Diehl Wealth Management Group, which was registered as an investment advisory firm. 

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston


Return to Archive



If you find yourself in trouble with the regulators, call Eccleston Law, you won't regret it.

Rick R.


January 21, 2022
CFP Board Establishes New Appeals Commission

The Certified Financial Planner (CFP) Board of Standards has established a new Appeals Commission. As the name suggests, the Appeals Commission possesses the sole authority to adjudicate appeal hearings.

January 20, 2022
Edward Jones Fails To Convince Supreme Court To Review Federal Preemption of Account Fee Suit

Edward Jones & Co. failed to convince the U.S. Supreme Court to analyze how a federal securities law impacts a client dispute pertaining to fee-based accounts.

January 19, 2022
SEC Charges Texas Entities Over Oil and Gas Fraud

The Securities and Exchange Commission (SEC) has charged The Heartland Group Ventures, Heartland Production and Recovery, six other Heartland-affiliated entities, four Heartland-affiliated individuals as well as several oil and gas operators.