Published On: February 7, 2017

Stoltmann Law Offices is investigating Kristopher Lee McKoin, a broker with Edward Jones in Bastrop, Louisiana, after allegations surfaced that he over-concentrated a couple’s account in oil and gas investments. The investments were in Seadrill and Linn Energy, both very risky and highly speculative oil and gas investments. Linn Energy filed for bankruptcy. In all, the clients lost $200,000 because of the bad investments. McKoin was allegedly confronted several times by the clients concerning their losses, and he suggested that they still hold their investments. Oil and gas investments are extremely volatile investments, especially for elderly investors. A broker has a duty to only recommend and sell those investments that are suitable for investors, by taking into account the investor’s age, net worth and risk tolerance. If he does not, his firm can be held liable for investment losses. Brokerage firms have a duty to oversee their brokers to make sure they do not make unsuitable recommendations and do not break securities laws.

Kristopher McKoin is registered with Edward Jones in Bastrop, Louisiana and has been since February 2000. If you suffered losses with Mr. McKoin, please call our securities law offices based in Chicago, Illinois for a no-cost, no obligation consultation with one of our attorneys. We may be able to help you recover your oil and gas losses with Edward Jones by suing the firm in the Financial Industry Regulatory Authority (FINRA) arbitration forum on a contingency fee basis.

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If you have suffered financial losses because of the negligence or fraud of your financial advisor or broker through unsuitable investment recommendations, over-concentration, churning, misrepresenting risks, conversion or selling away, you have legal rights and options to pursue recovery of those losses.

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