FINRA Suspends San Antonio Advisory Firm for Operating a “Boiler Room”

According to Financial Planning, Pinnacle Partners Financial Corp. and its president Brian K. Alfaro of San Antonio were suspended indefinitely for failing to comply with a FINRA cease and desist order.  Pinnacle and Alfaro were allegedly operating a “boiler room” where numerous brokers solicited investments by placing cold calls on a weekly basis.  Pinnacle and Alfaro continued to make fraudulent oral and written misrepresentations connected with their offer and sale of oil and gas joint interests.

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