Stoltmann Law Offices is investigating Paul Maxa, a former broker with Fintegra in Minnesota. The Financial Industry Regulatory Authority (FINRA) accused Maxa of failing to supervise a registered representative’s sale of a private placement offering as private securities. Private placement sales are commonly referred to as “selling away,” and is when a broker solicits an investment that is not held or offered by his member firm. Selling away is against securities rules and regulations. For this, Maxa was fined $5,000 and suspended for acting as a securities representative for 30 days.
Paul Maxa was registered with First American National Securities Inc. in Duluth, Georgia from August 1990 until February 1992, Multi-Financial Securities Corporation in Denver, Colorado from February 1992 until December 1992, LFK Inc. in Minnetonka, Minnesota from February 1993 until January 2003, Workman Securities Corp in Eden Prairie, Minnesota from June 2002 until December 2011, Allied Beacon Partners Inc. in Eden Prairie from January 2012 until September 2013 and Fintegra in Eden Prairie from October 2013 until September 2014. He has one customer dispute against him and is not licensed within the industry.
If you lost money with Paul Maxa, his former firm, Fintegra, can be sued in the FINRA arbitration forum to recover losses. They can be held responsible because of their inability to supervise him. Please call our law offices at 312-332-4200 to speak to an attorney about your options. The call is free with no obligation. We take cases on a contingency fee basis.
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