Investor Alert: Gustave “Gus” J. Schmidt Jr. – StraightPath Sales Under Review
Gustave “Gus” J. Schmidt Jr. (CRD 2709698) – StraightPath Sales Under Review
Goodman & Nekvasil, P.A. is investigating potential claims on behalf of investors who purchased StraightPath Offerings through broker Gustave J. Schmidt Jr. (CRD 2709698). The broker is currently registered with INVESTMENT NETWORK, INC. in SMITHTOWN, NY.
According to a recent FINRA Complaint concerning alleged violations of Regulation Best Interest, including failing to disclose material conflicts of interest, inadequate due diligence on recommended products, and misrepresenting risks, costs, and rewards associated with StraightPath.
StraightPath formed various private investment funds, including SP Ventures Fund 8 and SP Ventures Fund 9 for the purpose of investing directly in pre-IPO companies.
The investment advisor for the StraightPath funds, according to the FINRA Complaint was StraightPath Management LLC.
StraightPath Charged Excessive and Undisclosed Fees
According to the SEC’s complaint, StraightPath materially overstated its pre-IPO holdings, commingled investor funds, charged excessive and undisclosed fees, and even made Ponzi-style payments to earlier investors using new investor deposits. StraightPath Venture Partners LLC raised more than $400 million from investors.
The SEC alleged that StraightPath’s principals siphoned millions of dollars for themselves while misleading investors about the structure and performance of the funds.
StraightPath has since been placed into receivership, and many investors now face significant losses.
If you invested in StraightPath Venture Partners LLC or any other pre-IPO investment recommended by Gus Schmidt Jr., and you have suffered losses, you may be entitled to recover your damages through FINRA arbitration.
Call 800-500-4442 if you think that you have received unsuitable investment recommendations from your adviser.
Brokerage firms can be held liable for inadequate supervision, unsuitable recommendations, failure to investigate red-flag offerings, and failure to comply with Regulation Best Interest.
Goodman & Nekvasil, P.A. has filed hundreds of cases on behalf of investors nationwide involving private placements, fraudulent offerings, and high-risk investments sold without proper disclosure. The firm has extensive experience pursuing recovery for victims of pre-IPO schemes. If you are an affected investor, you should contact us immediately for a free, confidential evaluation of your claim.
Gustave “Gus” J. Schmidt Jr. (CRD 2709698) – StraightPath Sales Under Review
Goodman & Nekvasil, P.A., is investigating brokers who may have unsuitably recommended investments to their clients.
St. Petersburg, Florida law firm Goodman & Nekvasil, P.A., has a national practice representing victimized investors. The firm continues to investigate brokerage firms that placed elderly retirees and other conservative investors in unsuitable investments.
Goodman & Nekvasil, P.A., has filed numerous cases against brokerage firms selling high-risk investments and has recovered more than $500 million dollars on behalf of victimized investors.
We allege in these cases that these investment recommendations were unsuitable for our clients in view of their financial situation, needs and investment objectives.
There is no charge for an evaluation of your case. We handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee.
If you incurred losses on your investment and would like your case evaluated by a securities attorney, please contact us.
Some of the information in this blog post was obtained from FINRA on 11/24/25. If you believe this information was reported incorrectly, please contact our firm: 1-800-500-4442.