According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), John Oldham consented to sanctions that he shared commissions from the sales of alternative investments with an unregistered entity. He allegedly facilitated the sales of the alternative investments totaling more than $4.8 million to customers who were referred to him and shared commissions with the unregistered entity for $240,000. Oldham was previously terminated from his employer for an alleged violation of securities laws. These are against securities laws. Many of these alternative investments come with high costs and have typically underperformed. They are only appropriate for a small amount of investors, and a broker must know that before recommending or selling. If he does not, and the investor loses money, the broker’s firm may be held liable for losses.
Oldham was registered with Thrivent Investment Management, NYLife Securities, MetLife Securities, GF Investment Services, Kalos Capital, Independent Financial Group, NPB Financial Group and Center Street Securities. He is currently not registered with any firm and has been suspended from the industry. If you suffered losses with Mr. Oldham, we may be able to help you recover those losses on a contingency fee basis. To find out how, please call our securities law firm today at 312-332-4200. The call is free with no obligation.
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