Stoltmann Law Offices is investigating Kelly Althar who allegedly engaged in excessive trading (churning) in two accounts held by an elderly customer. Althar also allegedly made unsuitable recommendations. He was also charged with one count of grand theft. This is against securities rules and regulations. Churning accounts is a particularly egregious action done by a broker to generate large commissions for himself. Althar’s former firm, Financial West Group, can be sued in the Financial Industry Regulatory Authority (FINRA) forum on a contingency fee basis for investment losses. Please call our Chicago-based law firm today at 312-332-4200 to speak to an attorney about your options. The call is free with no obligation.
According to his online FINRA BrokerCheck report, Althar was registered with Pruco Securities in Newark, New Jersey from November 1995 until March 1996, Sun Investment Services in Wellesley Hills, Massachusetts from October 1996 until May 1997, M.L. Stern & Co. in San Francisco, California from May 2007 until December 2008, Southwest Securities in San Francisco from December 2008 until April 2011, Financial West Group in San Francisco from April 2011 until December 2015 and Paulson Investment Company in Novato, California from December 2015 until May 2016. He has two customer disputes against him and one criminal final disposition.