Stoltmann Law Offices is investigating Michael Willard Korson, a former PFS Investments broker who recently entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). FINRA barred him from the industry. Korson allegedly failed to timely and accurately notify PFS Investment of his outside business activities with a company called My Coupon Genie, Inc. He told PFS Investments a false timeline of his involvement with My Coupon Genie, and did not provide written notice of his dealings. He also charged personal business expenses to My Coupon Genie’s credit card. Korson’s wife also opened a brokerage account in the name of My Coupon Genie and he did not disclose this information to PFS Investments. A broker may only sell securities with the knowledge and approval of his firm. Any transgression having to do with this is a violation of securities laws.
Korson was registered with PFS Investments in Wixom, Michigan from April 1991 until February 2013 and HBW Securities in South Lyon, Michigan from January 2014 until July 2014. He has one customer dispute against him and he is not licensed within the industry. FINRA permanently barred him from acting as a broker or otherwise associating with firms that sell securities to the public. If you made investments with Michael Willard Korson, you may be able to recover your financial losses. Please call us at 312-332-4200 to speak to one of our attorneys about your options.