- Greenwood Village, CO
ATTENTION INVESTORS IN 2CONTANGO, LLC d/b/a UBRA
Israels & Neuman, PLC is continuing its investigation into the sales practices of former Morgan Stanley Broker Daniel Todd Levine of Greenwood Village, Colorado. Our law firm believes that Mr. Levine may have been involved in selling investments in 2contango, LLC d/b/a UBRA, while registered with Morgan Stanley.
In 2019, the Colorado Division of Securities alleged that Daniel Levine participated in an investment scheme that offered significant returns to investors through an over-the-counter sale of discounted bitcoin effectuated by Levine’s brother and an alleged large bitcoin holder in Europe. The bitcoin opportunity was offered to brokerage clients, investment advisory clients, and others. Levine failed to disclose to investors that his brother had a criminal history and had been living outside of the United States, as a fugitive, since at least 2005. It does not appear that the 2contango, LLC d/b/a UBRA investment is related to the BitCoin investments.
If 2contango, LLC d/b/a UBRA investments were sold to Levine’s clients, while at Morgan Stanley, Morgan Stanley could be held liable for associated investment losses. Brokerage firms like Morgan Stanley have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Phoenix, Arizona; Seattle, Washington; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Colorado. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against Morgan Stanley.