William Olinger – Investment Losses Due to Allegedly Unsuitable Real Estate Investment
The White Law Group is currently investigating potential FINRA arbitration claims involving former financial advisor William Olinger (CRD #352019) and his firm, Koss Olinger, in connection with purported investment losses in the Celebration Pointe commercial real estate project in Gainesville, Florida.
Investor Lawsuit Alleges Deceptive Scheme & Conflicts of Interest
According to WCJB, a 74-year-old investor, Patricia Shively reportedly filed a lawsuit in Florida alleging that she was misled into investing — and personally guaranteeing — more than $400 million in the Celebration Pointe development over the course of a decade. Despite her significant financial commitment, the lawsuit claims Shively never received dividends, interest, or equity in the venture.
Shively is reportedly suing several parties, including the developer Viking Construction and its owner Svein Dyrkolbotn, along with Gainesville wealth management firm Koss Olinger and her former advisor William Olinger.
The complaint alleges that Olinger and Dyrkolbotn had a close personal and financial relationship that was never disclosed to Shively, a potential violation of industry rules requiring disclosure of conflicts of interest.
Duties of Financial Advisors Under FINRA Rules
Financial professionals, like William Olinger, who was registered with FINRA through Valmark Securities until 2025, are required to adhere to strict industry standards — including the Regulation Best Interest (Reg BI) rule implemented in June 2020. This rule mandates that financial advisors must act in the best interests of their clients and must fully disclose all material conflicts of interest.
Under both FINRA rules and SEC regulations, advisors recommending high-risk investments such as real estate development projects must ensure the investments are suitable based on an investor’s age, financial situation, and risk tolerance. The lawsuit raises serious questions about whether those duties were upheld in this case.
Risks of Commercial Real Estate Investments
Commercial real estate projects like Celebration Pointe carry a number of inherent risks, including:
- Construction delays or failures
- Tenant risk and occupancy issues
- Market fluctuations and economic downturns
- Heavy leverage and interest rate risk
- Lack of liquidity
Given these risks, such investments are often unsuitable for many retail investors — particularly retirees — unless full disclosure and proper due diligence have occurred.
FINRA Arbitration vs. Class Action
Many investors mistakenly believe that class action lawsuits are the only way to pursue recovery after financial losses. However, most claims against investment professionals are handled throughFINRA arbitration, a private dispute resolution process that can be faster and more targeted than a class action.
Recovery Options for Investors
If you suffered investment losses involving William Olinger, Koss Olinger, or the Celebration Pointe development, you may be able to recover your losses through a FINRA arbitration claim. The White Law Group has handled hundreds of claims involving unsuitable investment recommendations and failure to disclose conflicts of interest.
Free Consultation
For a free consultation, please contact the securities attorneys at The White Law Group at 888-637-5510 or visit www.whitesecuritieslaw.com. We may be able to help you recover your investment losses.
About The White Law Group
The White Law Group is a national securities arbitration and investment fraud law firm with offices in Chicago, Illinois and Seattle, Washington. Our attorneys have recovered millions of dollars on behalf of investors through FINRA arbitration against brokerage firms.
Last modified: June 11, 2025
