The Financial Industry Regulatory Authority (FINRA) has ordered two firms, Woodbury Financial Services and Questar Capital Corp, to pay $600,000 and $2.4 million respectively, to investors who were bilked out of money by former broker Kevin Wanner. FINRA accused Wanner of taking money from 66 investors over 15 years. He has reached a plea agreement in federal court on charges of mail fraud and money laundering. Mr. Wanner was barred from the industry, and has one customer dispute against him, alleging fraud. This is according to his public, online BrokerCheck report with FINRA. Kevin Wanner was previously registered with Amev Investors, F&G Securities, John G. Kinnard & Co., Edward Jones, A.G. Edwards, Anchor National Financial Services, SunAmerica Securities, Merrill Lynch, LM Financial Partners, Raymond James, USAllianz Securities, Questar Capital Corp in Bismarck, North Dakota from December 2006 until August 2010, Woodbury Financial Services in Bismarck from August 2010 until December 2012 and Questar in Bismarck from December 2012 until December 2015. He has been permanently barred from the industry.
Kevin Wanner, a former broker with Questar Capital Corp in Bismarck, North Dakota, was recently barred from the industry by the Financial Industry Regulatory Authority (FINRA) for failing to respond to an investigation. The investigation was regarding allegations that he misappropriated or stole money from his clients. This is against securities rules and regulations, and his former firm, Questar Capital, can be sued in the FINRA arbitration process for not supervising Wanner while he worked there. The firm may be responsible for investment losses because it can be held liable for broker’s actions and transgressions. Please call our law firm at 312-332-4200 to speak to an attorney about your options. The call is free. We take cases on a contingency fee basis only.
According to Wanner’s online FINRA BrokerCheck report, he was registered with Amev Investors, F&G Securities, John G. Kinnard and Company, Edward D. Jones, A.G. Edwards & Sons, Anchor National Financial Services, SunAmerica Securities, Merrill Lynch, LM Financial Partners, Raymond James, USAllianz Securities, Questar Capital in Bismarck, North Dakota from May 2004 until December 2006, and Woodbury Financial Services. He is not licensed within the industry and FINRA permanently barred him from acting as a broker or otherwise associating with firms that sell securities to the public.