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Written by 3:43 pm Blog, Securities Fraud Articles

Investigation into Stephen Voboril

Have you suffered investment losses with Stephen Voboril? If so, The White Law Group may be able to help you recover your losses through FINRA arbitration.

Stephen Voboril, a former Northwestern Mutual Life Insurance broker, was barred from working in the securities industry after failing to respond to inquiries made by the Financial Industry Regulatory Authority. Vorbril was under investigation for alleged misuse of client funds. He worked with Northwestern Mutual Life Insurance from 08/1992 until 11/2013, when the company allowed him to resign pending the investigation.

In addition to the misuse of client’s funds, Voboril was accused of unapproved securities transactions, unauthorized loans from clients accounts, and failure to disclose his role as power of attorney for a Northwestern client.

According to reports, in one case, checks for $15,000 and $56,000 were issued from a client’s funds to Voboril personal bank account. Shortly after the transactions, Voboril put $458,000 on the purchase of a condominium.

Brokerage firms have a responsibility to to adequately monitor the activities of their employees. If a broker misappropriates funds from clients and violates securities regulations the brokerage firm may be liable for negligent supervision of their broker and responsible for negligent supervision.

If you have suffered losses due to your investment with Stephen Voboril or another broker and would like to speak to a securities attorney about your potential to recover those investment losses, please call The White Law Group at (312)238-9650 for a free consultation.

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 Vero Beach, Florida.

For more information on The White Law Group, visit www.WhiteSecuritiesLaw.com.

Tags: , , , , , , Last modified: October 9, 2015