Jerome Bonnett, formerly with Bonnett Wealth Management, and Securities America, committed suicide in May after Bonnett Wealth Management collapsed and he was charged with first-degree forgery and insurance fraud. On May 20, Bonnett Wealth Management had its assets frozen by the state of Nebraska. Bonnett was being investigated for mismanaging investor funds for personal use. The fraud he orchestrated was estimated at $1.35 million. Many of his victims were his close friends and family members. Eight of his investors were named as beneficiaries of a $3.2 million life insurance policy he took out more than two years before his suicide. According to his online Financial Industry Regulatory Authority (FINRA) BrokerCheck report, Bonnett was registered with Fortis Investors in Oakdale, Minnesota from May 1991 until November 1994, Walnut Street Securities in El Segundo, California from October 1994 until January 1995 and Securities America in Omaha, Nebraska from January 1995 until October 2015. He has one customer dispute against him and was not licensed within the industry before his death.
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