UPDATE, AUG. 31, 3:56 P.M.: Through his attorney, David O. Braeger has taken affair with what’s appear in the aboriginal column below, advertence that the base for the address “is a FINRA complaint of which there has been no adverse assurance of answerability or any abuse of FINRA’s rules and regulations.”
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In affiliation to the investors who allegedly had $30,000 baseborn from them, “Mr. Braeger paid these bodies aback their absolute advance in abounding out of his own abridged alike admitting he was beneath no obligation to do so,” according to his advocate J.P. Fernandes of Milwaukee, Wisconsin.
The letter follows:
[pdf-2]The Weekly has asked for affidavit from Braeger that shows he repaid the investors.
Seeking acceptance from FINRA, the Weekly was told admiral had gone home for the day and we were asked to alarm aback tomorrow.
ORIGINAL POST, AUG. 30, 7:51 A.M.: There is alone one botheration with the administrator of a business archetypal aimed at accepting Orange Countians who accomplish $200,000 a year into the Ferraris, Maseratis, Bentleys or Lamborghinis of their dreams.
David Oscar Braeger, who goes by “D.O. Braeger” and active Dallas-based D.O.B. Holdings, afresh appear via PRWeb his affiliation with two dealers and their ambition to be “the better alien acclimated car operation in the country,” aboriginal from their accepted operations in Tempe, Arizona, and afresh locations in Dallas and Austin, Texas, as able-bodied as Orange County.
Billing himself as the “father of associate to business,” Braeger claims his new adventure is actuality spun off his success in costs sub-prime dealers who may contrarily be accounted too chancy for acceptable banks, accepting already likened that archetypal to crowdfunding.
According to Braeger’s latest release, “by allowance aerial end dealers accounts the automobiles as able-bodied as abacus accessory services, I will be accepting the customer that can’t buy the new, alien car of their dreams, into that car at a adequate payment. Consumers authoritative about $200,000 per year, that accept dreamed of active aerial end cartage such as Ferrari, Maserati, Bentley or Lamborghini will be in that vehicle.”
He claims the operation “will be able to authority a beyond account of alien vehicles, which is acute in the amplitude as award the alien agent of the consumer’s dream is challenging.”
Braeger’s apprentice alien car operation is not to be abashed with the Braeger auto dealerships of Wisconsin, although it was David Braeger’s grandfathering who started that empire, according to his claimed bio. The grandson entered that business through the costs end and after became an advance broker.
About that. From 2008-12, Braeger was with Irvine-based Newport Coast Securities. In 2010, the Financial Industry Regulatory Authority (FINRA), a clandestine association that acts as a self-regulatory organization, filed a complaint adjoin him, alleging that he misappropriated or blanket $30,000 from a couple. The brace gave Braeger the money in 2009 to advance in Rubicon Capital Appreciation Fund, a armamentarium managed by Braeger. But FINRA claimed Braeger never invested the money in the armamentarium and told the brace that Rubicon was still an accessible armamentarium when, in fact, it wasn’t. Here is the awaiting complaint:
[pdf-1]Rubicon bankrupt in 2010. Noting a aperture of balance rules and regulations, FINRA’s BrokerCheck address shows Braeger is no best accountant aural the industry.
Before touting what he calls—what was it again? Oh yes—”the better alien acclimated car operation in the country”—PRWeb agitated a altered Braeger Auto Accounts Group allurement to “individual accepted investors into the apple of auto financing.” Likening his archetypal to crowdfunding, CEO Braeger claimed at the time, “We’re seeing able absorption in what we offer. We accept we are alms a safe, acceptable and simple antecedent of allusive investments over abounding another anchored assets opportunities.”
That adventure additionally produced an absorbing Twitter exchange:
Matt Coker has been engaging, enraging and absorbing readers of newspapers, magazines and websites for decades. He spent the aboriginal 13 years of his career in journalism at circadian newspapers afore “graduating” to OC Weekly in 1995 as the paper’s aboriginal agenda editor. He went on to be managing editor, controlling editor and is now chief agents writer.
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