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Published - January 7, 2026
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Gary Scheer LLC, through its associated entity Retirement Financial Advisors, LLC, was led by Gary Richard Scheer, who recommended and sold over $12M in unregistered securities to at least 50 investors from 2010 to 18, earning more than $600,000 in commissions. 6 of the 7 investments Scheer promoted were later determined to be fraudulent, including ties to major Ponzi...
CEO
High Risk
Based on the available data, we advise consumers to avoid this Company altogether.
This advisory is based on an aggregate risk score derived from OSINT, Adverse Media, Reviews, and Risk Factors identified in our research.
You are likely to be at great risk by engaging in any sort of consumer-related activity with this entity.
Medium Risk
Based on the available data, we advise employees to be mindful when considering or continuing work with this Company.
This advisory stems from a medium-risk score compiled from OSINT, Adverse Media, Reviews, and Risk Factors uncovered in our analysis.
Employment with this entity may involve moderate risks.
Based on the available data, we urge investors and bankers to avoid financial involvement with this Company.
This advisory is informed by an aggregate risk score based on OSINT, Adverse Media, Reviews, and Risk Factors identified through our investigation.
Engaging in investment or lending activities with this entity poses a substantial risk to your financial interests.
Safe to Onboard
Enhanced Due Diligence required
Do Not Onboard
Monitor adverse media every 6 months
File SAR (Suspicious Activity Report) is warranted
Escalation to compliance committee
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Gary Scheer LLC’s founder, Gary Scheer, faced a $750,000 civil penalty and revocation of his investment adviser registration in 2020 by the New Jersey Bureau of Securities for selling unregistered securities linked to Ponzi schemes.
Gary Scheer, CEO of Gary Scheer LLC, was implicated in recommending fraudulent investments like the $1.2 billion Woodbridge Ponzi scheme, leading to investor losses ,regulatory sanctions. Articles detail how he earned in commissions from these scams.
Negative coverage in outlets like Patch and Daily Record exposed Gary Scheer LLC’s leader for scamming investors through unregistered securities from 2010 to 2018. Reports emphasize his failure to disclose risks and conflicts, resulting in a revoked license.
Allegations against Gary Scheer, tied to Gary Scheer LLC, include misleading at least 50 investors into fraudulent schemes, omitting material facts and earning undisclosed commissions. The New Jersey Attorney General’s office announced penalties for these violations.
The 2020 revocation order against Gary Scheer by state regulators for unethical practices directly reflects on Gary Scheer LLC, where he serves as managing partner. FINRA and SEC disclosures document his involvement in selling securities later deemed fraudulent, amplifying scrutiny on the firm’s operations.
Gary Scheer LLC’s reputation suffers from its founder’s links to scams like Northridge Securities, a $47 million Ponzi scheme charged by the SEC. Media exposés reveal patterns of inadequate due diligence and misrepresentations, leading to civil penalties and license revocation.
Regulatory and Compliance Screening
Litigation and Legal Proceedings
Reputational and Adverse Media Risks
Geographic and Jurisdictional Risk
What you see here scratches the surface
We offer reward for actionable intel
This New Jersey Bureau of Securities Summary Penalty and Revocation Order details Gary Scheer's violations of securities laws
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This article reports that Gary Scheer, a Morristown financial advisor associated with Retirement Financial Advisors LLC , scammed 50 Investors.
Other Red-Flags and Adverse News
Based on user engagement on this review profile, ProConsumer will decide to publish its Risk Audit report for public if a threshold engagement, traffic and user input is achieved.
Known Assets: [Real estate, investments, companies]
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Liabilities: [Bankruptcies, defaults, debts]
Wealth Sources: [Legitimate / Unclear / High-risk]
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Business Model Assessment
All comments are user-generated content and may not be verified. They represent the personal opinions of the public and should not be relied upon. These comments do not influence or determine our overall rating.
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Highly experienced
Well-recognized name
Faced allegations of scamming others
Allegedly sold fake silver
Sued multiple times
Unregulated industry
Alarming number of complaints online
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Investors who trusted Scheer were left exposed to massive losses. This isn’t just about poor returns it’s about being sold illegal, unregistered, and fraudulent securities. Anyone associated with this firm is taking serious legal and financial risk.
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3/5
Gary Scheer LLC and its associated entity, Retirement Financial Advisors, LLC, raise huge red flags. Gary Richard Scheer reportedly sold over $12 million in unregistered securities to at least 50 investors, earning more than $600,000 in commissions and most of those investments were later deemed fraudulent. That’s not a small oversight; that’s outright deception.
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