Sherman Oaks, CA – December 18, 2025 – Rich Barber (CRD# 1298800), a registered broker with Glendale Securities, Inc. and TechSpeed Clearing LLC, is facing a pending customer complaint alleging involvement in a securities fraud scheme. According to FINRA BrokerCheck records, the complaint filed in September 2025 involves claims of false representations regarding corporate entities’ technologies from 2015 to 2023. This post provides FINRA-reported disclosure information to inform investors and explain potential recovery options.
BrokerCheck Snapshot
Name: Richard Wright Barber
CRD #: 1298800
Firm: Glendale Securities, Inc. / TechSpeed Clearing LLC
Location: Sherman Oaks, CA / Addison, TX
Years in Industry: 35
Number of Disclosures: 1
Customer Complaint Against Richard Wright Barber
According to FINRA BrokerCheck records, Richard Wright Barber has one pending customer dispute filed in September 2025. The complaint was served on September 15, 2025, and remains pending in the US District Court, Eastern District of Texas (Case #25-cv-00362-JCB).
The complaint alleges that Barber was involved in a long-running securities fraud scheme that defrauded investors of at least $40 million. Specifically, the allegations state that from 2015 through 2023, defendants sold shares in numerous corporate entities by falsely claiming these entities had developed industry-disrupting technologies. The product type involved is listed as private company equity.
Alleged Damages: $40,000,000.00 (attributed to multiple defendants collectively)
Status: Pending
Employing Firm When Activities Occurred: Glendale Securities, Inc.
It’s important to note that this matter is pending and involves unproven allegations. As stated in the BrokerCheck report, there are numerous defendants in this case, and the alleged damages amount is attributable to all defendants collectively rather than to any single individual.
Pattern of Complaints / Risk Factors
While each case is unique, complaints involving allegations of misrepresentation and false claims about investment opportunities may indicate concerns related to unsuitable investment recommendations, inadequate risk disclosures, or material omissions. Investors who purchased private company equity or similar alternative investments should carefully review account statements and seek legal guidance if similar issues occurred.
Can Investors Recover Losses?
Investors who relied on false statements or omissions may be entitled to recover their losses. Patil Law, P.C. has over 15 years of experience representing investors in FINRA arbitration and securities litigation, with more than $25 million recovered for clients across 1,000+ cases. We provide a free, confidential consultation to review your potential claim. Our firm works on a contingency fee basis, meaning you pay no attorney fees unless we successfully recover money for you.
If you invested in private company equity or other securities through Glendale Securities, Inc. or TechSpeed Clearing LLC and experienced losses, it’s important to understand your rights under securities regulations.
About FINRA Arbitration
FINRA arbitration is a streamlined dispute resolution process for securities-related claims. It offers a faster, more cost-effective alternative to traditional court litigation. Most cases are resolved within 12-16 months. Claims generally must be filed within six years of the incident. Securities arbitration allows investors to pursue recovery without the expense and delays of traditional lawsuits.
Related Brokers and Firms
Investors concerned about losses involving Glendale Securities, Inc. may also want to review information about other advisors at the firm. Visit our Glendale Securities advisors complaints page for more information about the firm and related disclosures.
Additional resources on related issues:
Frequently Asked Questions
What is the complaint against Richard Wright Barber?
The complaint alleges Richard Wright Barber was involved in a securities fraud scheme from 2015 to 2023 in which shares in corporate entities were allegedly sold using false claims about industry-disrupting technologies. The case is pending in federal court with $40 million in alleged damages across multiple defendants.
Can investors recover losses involving Glendale Securities, Inc.?
Yes. Investors who suffered losses due to broker misconduct at any firm may be entitled to compensation through FINRA arbitration. Securities laws provide protections for investors who were given unsuitable recommendations, misled about risks, or subjected to other violations.
What is FINRA arbitration?
FINRA arbitration is a dispute resolution process specifically designed for investment-related claims. It’s administered by the Financial Industry Regulatory Authority and provides an alternative to court litigation. The process typically takes 12-16 months and involves neutral arbitrators who hear evidence and make binding decisions.
What does “unsuitable investment” mean?
An unsuitable investment is one that doesn’t align with an investor’s financial situation, risk tolerance, investment objectives, or time horizon. Brokers have a legal obligation to recommend only investments that are suitable for their clients based on these factors. Unsuitable investment claims are among the most common allegations in securities cases.
How do I look up a broker on BrokerCheck?
Visit FINRA’s BrokerCheck website at brokercheck.finra.org. You can search by the broker’s name or CRD number. The report will show employment history, qualifications, and any disclosure events including customer complaints, regulatory actions, or criminal matters. For Richard Wright Barber, search CRD# 1298800.
What should I do if I suspect broker misconduct?
First, gather all account statements, trade confirmations, and communications with your broker. File a complaint with FINRA and your state securities regulator. Then, consult with a securities attorney experienced in FINRA arbitration to evaluate your potential claim. Time limits apply, so act promptly.
About Patil Law, P.C.
Patil Law, P.C. is a securities litigation firm dedicated to representing investors who have suffered losses due to broker misconduct, unsuitable recommendations, and securities fraud. Founded in 2018 by attorney Chetan Patil, the firm focuses exclusively on FINRA arbitration and investment loss recovery.
With over 15 years of combined experience in securities law, Patil Law has successfully recovered more than $25 million for clients across 1,000+ cases. Attorney Chetan Patil earned his law degree from Case Western Reserve University School of Law. Attorneys Gabriela Dubrocq and Patricia Herrera earned their law degrees from University of Miami. The firm handles cases nationwide involving unauthorized trading, churning, unsuitable investments, breach of fiduciary duty, and failure to supervise.
Patil Law works on a contingency fee basis, meaning clients pay no attorney fees unless the firm successfully recovers money on their behalf. All consultations are free and confidential.
Contact Patil Law, P.C.
If you lost money investing through Richard Wright Barber at Glendale Securities, Inc. or TechSpeed Clearing LLC, contact Patil Law, P.C. for a free, confidential consultation. Our experienced securities attorneys can review your case and explain your legal options.
Phone: 800-950-6553
Email: info@patillaw.com
Website: investmentlosslawyer.com
We represent investors nationwide in FINRA arbitration and securities litigation matters. There is no obligation, and you pay no attorney fees unless we successfully recover money for you.
The information in this post is based on FINRA BrokerCheck records and public filings. Allegations described are pending or unproven and may be contested. All investors are entitled to fair treatment under securities laws. This is attorney advertising. Prior results do not guarantee a similar outcome. This communication is for informational purposes only and does not create an attorney-client relationship.
