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


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