Stoltmann Law Offices is investigating Nicholas Shermeta, a registered broker with Northland Securities. Recently, the Securities and Exchange Commission (SEC) settled with him regarding allegations that he sold investments in Dakota Plains Holdings. Allegedly, Shermeta and Napa Properties, sold investments in Dakota Plains Holdings, run by Ryan Gilbertson and Michael Reger, who allegedly manipulated Dakota Plains stock. Instead of brokering the deals through his own firm, Northland Securities, Shermeta allegedly solicited investors through Napa Properties. For this, Shermeta was fined $75,000 in disgorgement, $11,000 in interest and a $50,000 penalty.
According to his online, public Financial Industry Regulatory Authority (FINRA) BrokerCheck report, Shermeta was registered with John G. Kinnard and Company in Minneapolis, Minnesota from December 1993 until September 1995, Equity Securities Trading in Vancouver from September 1995 until April 1997, Equity Securities Investments in Golden Valley, Minnesota from April 1997 until November 1997, Paradise Valley Securities in Phoenix, Arizona from November 1997 until October 1999, Miller Johnson Steichen Kinnard in Minneapolis, Minnesota from November 1999 until June 2002 and Feltl & Company in Minneapolis from June 2002 until November 2011. He is currently registered with Northland Securities in Minneapolis and has been since November 2011. The SEC has permanently barred him from the industry.
Please call our Chicago-based securities law firm today if you suffered losses with Nicholas Shermeta. We may be able to help you bring a claim against Northland Securities for investment losses. We take cases on a contingency fee basis only, so we only get paid if you receive money. Please call 312-332-4200 today for a free consultation with one of our attorneys. There is no obligation.