Stoltmann Law Offices continues to investigate Thomas Charbonneau, a former financial advisor with Feltl & Company in North Oaks, Minnesota (55127). The Financial Industry Regulatory Authority (FINRA) barred Charbonneau from the industry in 2014 because of his alleged connection to a pump-and-dump scheme, and for allowing customers to sign blank forms. His former firm, Feltl & Company was accused of failing to supervise him by FINRA in February 2017. Charbonneau had been accused of recommending Spectrascience Inc. (SCIE) to his customers. He then allegedly sold 1.7 million shares of his own stock in Spectrascience, allowing the market price to go down, leading to investors losing money, while he made money. This is an example of a pump-and-dump scheme. Feltl was accused of having the knowledge that Mr. Charbonneau was selling over 900,000 shares of a company in which he was personally invested, and, at the same time, recommending that firm customers invest as well. Feltl was fined $150,000 for this misconduct.
Charbonneau was registered with Craig-Hallum Inc., Hamilton Investments, Miller, Johnson & Kuehn, Miller Johnson Steichen Kinnard, Dougherty & Company, Stifel, Nicolaus & Company, Feltl & Company in North Oaks, Minnesota from March 2005 until October 2010 and Berthel Fisher & Company. He has one customer dispute against him and FINRA has permanently barred him from the industry. The attorneys at Stoltmann Law Offices are interested in speaking to anyone who may have lost money with Thomas Charbonneau. We may be able to help you bring legal action against his former firm, Feltl & Company, for not properly supervising him while he was employed there. The firm may be liable for investment losses. Please call us today for your free consultation at 312-332-4200. We are based in Chicago, Illinois.
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