hris Raymond Kubiak (Chris Kubiak) (CRD#: 1527367), a former financial advisor with Calton & Associates, Inc. of Brookfield, Wisconsin has been sentenced to prison for two-and-a-half years, according to news reports. The federal judge also ordered Kubiak to pay restitution to his victims, mostly elderly, and sentenced him to three additional years of supervised release. Kubiak was previously with Freedom Investors Corp. for 28 years, also of Brookfield, Wisconsin.
According to the news reports, Chris Kubiak admitted he stole more than $370,000 from six of his elderly clients to pay for his gambling addiction.
Chris Kubiak said, according to the local news channel, “The direct victims. I could not feel … I could not be more sincerely sorry and regret more what’s happened. I’m going to counseling and just trying to earn back some of the trust and respect that I lost.”
According to FINRA’s BrokerCheck, Chris Kubiak had been in the securities industry for 32 years. He has 5 Disclosures on his CRD report, 2 are pending Criminal charges, 2 are Regulatory for being barred by both the SEC and FINRA, and one is an Employment Separation After Allegations from Calton & Associates, Inc. having discharged him the week after the following allegations, “Representative was arrested on 09/25/2018 and charged with felony theft by fraud.”
FINRA barred Chris Kubiak on October 18, 2018, following the allegations in part that “he converted customer funds. The findings stated that four customers, including three seniors, gave funds to Kubiak totaling approximately $270,000 to invest on their behalf. Kubiak, however, deposited the funds into his personal bank account and then used them for his own personal use, including to gamble and to pay for personal medical bills.”
The following article is from Soreide Law Group’s website blog:
The SEC barred Chris Kubiak August 14, 2019, following, in part, these allegations, “On May 8, 2019, Kubiak pled guilty to a fraud scheme and to one count of wire fraud.”
Chris Kubiak was listed with 4 firms, the 3 most recent are below:
07/17/2017 – 10/01/2018 CALTON & ASSOCIATES, INC. – Brookfield, WI
07/14/2017 – 08/11/2017 AMERICAN GLOBAL WEALTH MANAGEMENT, INC – MCDONOUGH, GA
02/17/1989 – 07/17/2017 FREEDOM INVESTORS CORP. – BROOKFIELD, WI
If you or an elderly family member were victims of the fraud perpetrated by Chris Kubiak, a former financial advisor with Calton & Associates, Inc. of Brookfield, Wisconsin, contact Soreide Law Group and speak to an experienced securities lawyer regarding the recovery of your investment through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents clients nationally before FINRA on a contingency fee basis—no fee if no recovery.