Paul Getty Subject of a Six-Figure Investor Dispute

Paul Getty (CRD #: 6470002), a broker registered with Lightpath Capital, is the subject of an investor dispute alleging losses of over half a million dollars, according to his BrokerCheck record, accessed on July 26, 2023. For more detail regarding this recommendation of a real estate private placement, keep reading. 

On May 19, 2023, investors alleged that they collectively invested $697,474.19 in a real estate private placement following a recommendation from Paul Getty. The investment failed following the Covid pandemic, which led to a forced sale of the property. The investors are alleging that Paul Getty engaged in common law fraud and breached his contract. They are further alleging violations of California securities laws and negligence. 

The investors are seeking to recover $696,494.19 in this pending dispute. 

There is a similar dispute dated December 22, 2022, also alleging losses in a real estate private placement. The investors alleged they invested $2,034,006. 

What is a Private Placement? 

Private placements are always risky because they do not have to register with the SEC and therefore do not have to meet as strict standards when disclosing information about the issuer. Private placements are also often illiquid and difficult to sell, making them high-risk. 

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Negligence violates FINRA Rule 2010. 

Background Information 

Paul Getty has passed the following exams:

• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 62 Corporate Securities Limited Representative Examination 
• Series 22 Direct Participation Programs Representative Examination 

He is a registered broker in 14 states. 

Paul Getty has worked for the following firms: 

• Emerson Equity (CRD #L 130032) 
• Colorado Financial Service Corporation (CRD #: 104343) 
• Concorde Investment Services (CRD #: 151604)

Kurta Law Can Help

If you worked with Paul Getty and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.