Written by The White Law Group• April 9, 2019• 3:09 pm• Blog, Current Investigations, Securities Fraud Articles

Chris Kubiak Broker Fraud Investigation updated 9/24/19

Chris Kubiak Broker Fraud Investigation, featured by Top Securities Fraud Attorneys, The White Law Group

Chris Kubiak Arrested and Charged with Felony Theft by Fraud

Have you suffered losses investing with broker Chris Kubiak? If so, the securities attorneys at The White Law Group may be able to help you recover your losses through FINRA Arbitration.

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According to numerous reports, Kubiak allegedly deposited the funds of four clients, three of whom were senior citizens, into his own personal bank account, between June 2015 and August 2018.

Franklin police reportedly arrested Kubiak in September 2018 and in January 2019 a Grand Jury reportedly indicted him for fraud.

According to court documents, “Kubiak fraudulently obtained an excess of $370,000 from elderly clients, which he used for gambling and for personal expenses.”

In some cases, Kubiak purportedly called investment companies and “falsely stated to the associate that he was, in fact, the client calling to request a withdrawal form, or liquidation of, an account.”

He also reportedly “directed the clients to write personal checks payable to him.”

Update on September 24, 2019 – Kubiak Reportedly Sentenced to Prison

According to numerous reports this week, Kubiak was reportedly sentenced U.S. District Court in Milwaukee, Wisconsin to 30 months in prison.

Kubiak was also reportedly ordered to pay $379,977 to the six victims named in the indictment and to serve three years of supervised release after finishing his prison sentence, prosecutors said.

Chris Kubiak was affiliated with Calton & Associates in Brookfield, WI from July 2017 until he was fired in October 2018 after his arrest, according to his FINRA BrokerCheck report. He worked briefly in McDonough, Georgia at American Global Wealth Management. Prior to that, he spent 28 years at Freedom Investment Corp. in Brookfield, WI. The Financial Industry Regulatory Authority (FINRA) barred Kubiak in October 2018 from working in the securities industry.

Failure to Supervise

The White Law Group is investigating potential claims involving Chris Kubiak and the liability his former employers may have for failure to properly supervise him.

Under FINRA rules and regulations, Broker-Dealers are responsible for supervising the actions of those advisors registered with their firm, and therefore may be held liable for the actions of their Broker(s).

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.

We represent investors in FINRA arbitration claims in all 50 states, including Wisconsin. Our attorneys have recovered millions of dollars from many brokerage firms in the past.