James Kolf Barred from the Securities Industry

According to FINRA, James Paul Kolf (CRD #1015682, Sauk City, Wisconsin) submitted an AWC in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Kolf consented to the sanction and to the entry of findings that he allegedly made material misrepresentations and omissions in the sale of at least $588,000 in purported securities to customers of his member firm.

The findings stated that the securities, however, were not genuine and Kolf reportedly converted the customers’ funds to pay for his own business and personal expenses. In furtherance of the fraud, Kolf also allegedly created and distributed falsified account statements to his customers reflecting their interests in the fake investments.

For FINRA’s full findings see FINRA case # 2016050940701.

According to his FINRA Broker Report, Kolf was registered with NYLife Securities in Madison, WI from 05/2016 – 08/2016. He was also registered with Metlife Securities in Middleton, WI from 01/2015 – 05/2016 and he was registered with New England Securities in Middleton, WI from 09/2009 – 01/2015.

Brokerage firms are required to properly supervise all advisors they employ and to ensure that those advisors are complying with applicable FINRA rules and regulations. If it can be demonstrated that Kolf’s former employer failed to properly supervise him, his employer may be held responsible for the losses in a FINRA arbitration claim.

If you suffered losses investing with James Kolf and would like a free consultation to discuss your litigation options, please call The White Law Group at 1-888-637-5510.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.