Securities Investigation of Christopher Tolmacs
According to a recent FINRA disciplinary announcement, Christopher Thomas Tolmacs (CRD #4648724, Scotts, Michigan) has submitted an AWC in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Tolmacs consented to the sanction and to the entry of findings that he failed to fully respond to FINRA requests for documents and information, and refused to appear for testimony.
FINRA’s investigation was related to whether Tolmacs had entered into lending arrangements with several of his customers through the issuance of promissory notes., FINRA was assessing whether those arrangements violated FINRA rules, whether Tolmacs made materially misleading statements and omissions in connection with those arrangements, and whether Tolmacs converted customer funds.
For the full FINRA findings, see FINRA Case #2016048966301.
According to Tolmacs’ FINRA BrokerCheck, he was registered with TRIAD ADVISORS, INC. from 04/2008 – 03/2016.
Update September 28, 2017
According to reports, FINRA arbitrators have awarded two clients of former broker Christopher Tolmacs $1.2 million in compensatory damages and $300,000 in punitive damages based on “willful wanton misconduct, conversion of funds and securities fraud.”
The Financial Industry Regulatory Authority said in the award that Tolmacs denied the allegations made by former clients Karen and David Gottschall and asserted various defenses.
The White Law Group continues to investigate the liability that Tolmacs’ FINRA registered employer may have for failure to properly supervise him.
The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group. 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.
For information on the firm and its representation of investors, visit https://whitesecuritieslaw.com.
For a free consultation with a securities attorney, please call 888-637-5510.
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