Stoltmann Law Offices is investigating Arnold Steven Janickas, who entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). Janickas was fined $5,000 and suspended from the industry for two years and ordered to pay deferred restitution of $360,117.83, plus interest, to a customer. He allegedly accepted unsecured personal loans totaling $805,000 from a customer of his firm without the firm’s knowledge or approval. This is against securities rules and regulations. Janickas allegedly used $550,000 of the loans to purchase a house and used the remaining $255,000 for renovations on the house. He then sold the property.
According to his online, FINRA BrokerCheck report, Janickas was registered with Painewebber in Weehawken, New Jersey from November 1997 until March 2000, Morgan Stanley in Purchase, New York from March 2000 until April 2003, Citigroup Global Markets in Deerfield, Illinois from April 2003 until February 2006, Zacks & Company in Chicago, Illinois from February 2006 until October 2006, ETrade Securities in Chicago from November 2006 until March 2009 and Wayne Hummer Investments in Chicago from March 2009 until August 2013. He has eight customer disputes against him and is not licensed within the industry. Please call our securities law firm today to speak to an attorney for free if you feel we can help you bring legal action against Wayne Hummer Investments for failing to supervise Mr. Janickas. The call to us is free with no obligation. 312-332-4200.