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Robert Turpin Barred for Failing to Cooperate with Selling Away Investigation

FINRA barred broker Robert Turpin, formerly of Scottsdale, Arizona's Source Capital Group, for failing to provide requested information during an investigation into allegations that he engaged in private securities transactions and failed to disclose outside business activities.

Source Capital Group discharged Turpin in late 2015 for selling away from the firm and engaging in the unauthorized outside business activities, which, according to Turpin's BrokerCheck report, appear to include the solicitation of investments in several real estate ventures in Arizona (the Tartesso West investments), Colorado (Alliance Equity) and Florida (Tampa Bay Investors): see below for a complete list of Turpin's outside businesses.

FINRA AWC #2015046864301

In 1999, Turpin's Desert Star Capital consented to a FINRA fine for operating a securities business while failing to maintain the required minimum net capital, which is an example of one safeguard imposed on firms through FINRA/NASD conduct rules that might not apply to an outside business activity—such as a business activity that FINRA/the firm doesn't know about—such as selling away from or outside of a firm without permission or notification.

Other LLCs that Turpin has managed include:

>> Alliance Equity Investors

>> Alliance Equity Investors Colorado LLC

>> New Alliance Opportunity Investors LLC

>> Tampa Bay Investors, LLC (and Investors II/Investors III LLCs)

>> Tartesso West Commercial Mixed Use, LLC

>> Tartesso West High Density Residential

>> Tartesso West Multi Family LLC

If you have invested with Robert Turpin or with any broker whose outside business activities or other misconduct selling away has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

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