Securities Fraud Lawyer Blog
Kevin Wanner barred over CD sales
In January, 2016 FINRA barred broker Kevin Wanner formerly of Questar Capital Corporation and Woodbury Financial for his role in brokering certificates of deposit and selling unregistered securities.
In August, 2017 the North Dakota Securities Department made findings that Kevin Wanner, doing business as Precision Financial allegedly ran a Ponzi scheme for over fifteen years and victimized dozens of investors in a bogus CD scam as well as by selling unregistered securities. The findings by the North Dakota department state that Kevin Wanner pocketed most of the money raised from investors and used it to support his lifestyle, and to pay newly raised funds to older investors. Also as part of the North Dakota findings, Kevin Wanner was referred to the U.S. Attorney’s office for a criminal investigation.
Registration and disciplinary history
In order to lawfully sell investments to the public, a registered rep must either be registered or exempt from registration. Kevin Wanner was registered with Questar Capital Corporation from December, 2012 to December, 2015 and from December, 2006 to August, 2010. Between those two stints with Questar, he was affiliated with Woodbury Financial Services.
According to FINRA’s CRD disclosure report, Kevin Wanner has been the subject of one customer complaint and two regulatory investigations. He was also discharged by Questar in 2015 for allegedly making misrepresentations to an investor about the purported FDIC backing of a certificate of deposit he was selling.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.
When investors contact our firm they can expect prompt attention, and a detailed analysis of their issues. Typical claims that we are asked to review involve “unsuitability (where a financial advisor makes investment recommendations that are inconsistent with a customer’s investment objectives), claims for “churning” (where a broker enters into an excessive number of trades for the purpose of generating commissions), claims involving illiquid investments such as private placements (I.e., real estate investment trusts, limited partnerships, equipment leasing and oil and gas drilling programs) as well as claims for violations of state securities laws, which often provide investors remedies like attorney’s fees and interest, if they are successful on the claim.
If you suspect that you have been the victim of investment fraud, or had a financial advisor recommend unsuitable investments to you, call us today for a free, confidential consultation at (702) 380-3131.