Ameriprise Financial Rep Jim Seol Barred From the Industry

Former Ameriprise financial advisor Jim Seol, was barred from the industry by the Financial Industry Regulatory Authority (FINRA) for allegedly participating in private securities transactions, engaging in undisclosed outside business activities and for making misrepresentations to Ameriprise in questionnaires. FINRA found that Seol did not disclose the activity of promoting EB-5 investments through his private business, Western Regional Center Inc. (WRCI) after selling $100 million in the product. The EB-5 program permits foreign investors to obtain a U.S. visa in exchange for investing in products that create U.S. jobs. Allegedly, Seol formed WRCI to market investments to overseas investors through this program. He then allegedly traveled to South Korea and China to market his investments to foreigners, namely a solar power energy plant in Riverside, California. He concealed this activity from Ameriprise from 2012 until 2014.
Seol was registered with IDS Life Insurance Company in Minneapolis, Minnesota from June 1997 until July 2006, and Ameriprise in Irvine, California from June 1997 until June 2014. He has five customer disputes against him and is currently not registered within the industry. Please call our securities law firm today if you suffered losses with Mr. Seol. We are based in Chicago and may be able to help you recover your losses on a contingency fee basis, which means we only make money if you recover yours. The call is free with no obligation.