forsyth

Skip to content
Live
News
Weather
Traffic
WBTV Investigates
On Your Side Tonight
QC Life
Sports
Community

Well-known Charlotte financial adviser sold products tied to fraud case, clients claim
Jim Heafner appeared in several segments of WBTV's Morning Break program between June and...
Jim Heafner appeared in several segments of WBTV's Morning Break program between June and November of 2017, as paid, sponsored content. The segment was labeled that way in the show and in credits. As sponsored content, WBTV did not endorse Heafner or his services. He has not appeared on any of our programs since that time.
By Deon Roberts
Updated: Mar. 28, 2019 at 12:24 PM EDT

WBTV Editor's Note: Jim Heafner appeared in several segments of WBTV's Morning Break program between June and November of 2017, as paid, sponsored content. The segment was labeled that way in the show and in credits. As sponsored content, WBTV did not endorse Heafner or his services. He has not appeared on any of our programs since that time.

CHARLOTTE, NC (The Charlotte Observer) - Clients of a well-known Charlotte financial adviser are accusing him of selling unregistered financial instruments issued by a Florida firm charged with fraud.

Three clients of Jim Heafner, president of Heafner Financial Solutions, are seeking hundreds of thousands of dollars in damages from him, according to disclosures with the Financial Industry Regulatory Authority. They are going through the regulatory agency to pursue their claims. In addition, at least two law firms are looking to talk to Heafner clients who believe they've lost loss money from the alleged recommendations, the firms said.

The accusations have put a spotlight on a businessman known in the region for frequent appearances giving financial advice on local TV stations, such as WBTV, WCNC and WSOC. Heafner, 70, has also promoted himself on local radio and with financial self-help books such as "SuccessOnomics" and "Retire Abundantly."

Heafner referred questions this week to his attorney, Charlie Bridgmon.

Bridgmon said he was not able to discuss the three clients' claims. But he said Heafner also has money "tied up" with the Florida firm, 1 Global Capital. Bridgmon said Heafner was also an investor in the securities the Florida firm was issuing.

Bridgmon also said that Heafner is retiring and plans to close his south Charlotte business at the end of this month. And Bridgmon confirmed media reports that Heafner has been residing in Puerto Rico for at least the past three or four months.

According to FINRA disclosures, Heafner is no longer registered as a broker - a person who buys and sells securities, such as stocks, bonds and mutual funds. He had been registered with Georgia-based Taylor Capital Management from 2011 until January 2018, according to the disclosures.

In a statement to FINRA, Taylor Capital said Heafner failed to advise the firm of his intention to offer, sell or recommend 1 Global instruments before making a sale to an unnamed entity.

At some point, Heafner asked Taylor Capital for permission to conduct outside business activities for 1 Global, but Taylor denied the request, the Taylor statement said. Shortly after that, Heafner resigned from Taylor, according to the statement.

Asked why Heafner no longer has a broker license, Bridgmon said his client no longer needs one because of his upcoming retirement. Bridgmon said he could not comment on Taylor Capital's statements because he had not seen them.

SEC LAWSUIT

The Securities and Exchange Commission sued 1 Global Capital and its former CEO, Carl Ruderman, in August in U.S. District Court, accusing them of fraudulently raising more than $287 million since 2014 from at least 3,400 investors across the U.S.

The money was raised through sales of unregistered securities sold through a network that included registered and unregistered investment advisers, according to the suit, which does not mention Heafner or any other broker by name.

Investors thought their money was being used to fund business that could not obtain more traditional financing such as bank loans, the suit said. But a substantial amount of investors' funds went toward other purposes, such as paying 1 Global's operating expenses, according to the suit.

Many of the clients who were defrauded had used their retirement savings to invest in the securities, the suit said.

1 Global paid millions in commissions to sales agents to offer and sell the instruments, according to the suit.

Ruderman, a former owner of Playgirl and other magazines, is accused in the suit of using some of the investors' money to fund a lavish lifestyle, including for a luxury vacation to Greece and monthly payments for his Mercedes Benz. In a court filing this month, Ruderman denied those and other allegations.

COMPLAINTS PENDING

The three customer complaints against Heafner on FINRA's website claim he recommended or sold them 1 Global Capital instruments.

The oldest of the three complaints dates to last November. Combined, the investors are seeking more than $498,015 in damages.

In one complaint, an investor claims that in 2017 Heafner recommended an investment of $100,000 in 1 Global instruments. In another, an investor claims Heafner sold 1 Global instruments, also in 2017.

Bridgmon said he could not comment on those matters because they are pending. He also said he was not allowed to comment on any of Heafner's clients or their investments.

Heafner's company has an A-plus rating, according to the Better Business Bureau, which says on its website that the firm has been accredited since 2006.

Bridgmon said he could not say whether Heafner was actively serving clients, but he noted that the firm is in its final days. "He's winding down the business," Bridgmon said.

Meanwhile, at least two law firms are soliciting Heafner clients who claim they lost money from sales of 1 Global instruments.

One of those, Florida-based Wolper Law Firm, said it has been retained by investors of Heafner. Wolper said it has also filed lawsuits and arbitration claims against other financial advisers who sold 1 Global notes.

Copyright 2019 WBTV. All rights reserved.

DOES THIS LOOK LIKE A LIE???

Look at the Danimal go! Doubling down on the lies.

Dog I'm curious did oleJames Heafber do your financisl planning?? If so yiu do realize you got SCREWED don't you???He helps people invest their money into HIS POCKETS not yours I heard he's no longer Charlottes FINANCIAL GURU. His name is now MUDD in all those lawsuits. Have you thought of a GoFund me page to help your hero out. I hear he is getring very FINANCIALY EMBARRASSED .

Ah my groupies have arrived. How nice, thats sarcasm for those who don't know

krazy we all plan for retirement so we dont have to live on batteries and handouts like you do. You are a scammer.

D. B. Is it really?? I have lived without it for almost 13 years. It isn't going to be long if rates keep going up people on Social Security are not going to be able to keep up with the rate increases. We can't print more money. Do you even realize how easy it will be for that grid to be taken down?? Seems the last few years that when temperatures fall below zero that's when the power fails. I can remember my parents not having electricity and we survived. People also survived hundreds of years ago without it. Helene should have taught people not to depend on.that electric company to save your hides because when you need it the worst its not there no matrer what Blue Rudge Energies claim . I have even convinced my sister to get some rechargeanle battery packs to keep.on hand. I loaned.them some of mine in the last outage so they could keep their phones charged.

At least I don't change my handle 3 or 4 times a day. I think that's a pretty good sign of a mental problem. Not to mention cheering Joe and Toe!

Mr. Prune face still blaming Biden for Donald's mess. Look over DB, dementia is hard on the old folks.

Even at today's Joe Biden prices... electricity is still a must have!

I lived without it for 15 days after Hugo. Didn't much care for that lifestyle..

https://share.newsbreak.com/dayzx0qm

Just gies to show you can live without it.. OK groupies chime in!!