The Financial Industry Regulatory Authority (“FINRA”) discloses troubling information in regard to Christopher “Chris” Todd Wendel (CRD#: 1930870, Celina, Ohio). Notably, eight or more investors contested the sales practices of the securities broker, who last associated with SA Stone Wealth Management until September 2017 when the securities firm disaffiliated with him for selling away. Not only that, but FINRA and Ohio Division of Securities sanctioned Wendel for unauthorized securities transactions. Evidently, these matters mainly concern allegations of Wendel selling investments in a purported Ponzi scheme known as Woodbridge.
SA Stone Client Indicates Chris Wendel Misappropriated Funds
Apparently, a client of SA Stone brought FINRA Arbitration Claim #: 19-03787 on January 2, 2020. Namely, the client alluded to Wendel being negligent and less than forthcoming in reference to an unregistered offering. It appears that Wendel misappropriated or misused the client’s money. Also, the client indicated that Wendel did not provide necessary information in regard to the offering. For this reason, the client demanded that Wendel or SA Stone pay $103,000 in damages to resolve this ongoing matter.
Client Of SA Stone Takes Aim At Wendel For Bad Advice
Evidently, a second SA Stone Wealth Management client brought FINRA Arbitration #: 19-01092 on May 6, 2019. Namely, the client alleged that Wendel recommended an unsuitable investment in the form of a promissory note. Supposedly, Wendel possibly lied to the client about the promissory note and he concealed facts about it too. Apparently, on May 5, 2020, SA Stone Wealth Management paid the client $25,000 to settle the claim.
Ohio Division Of Securities Issues Chris Wendel Cease And Desist For Unauthorized Transactions
Notably, on August 20, 2019, Ohio Division of Securities issued Wendel a Cease and Desist Order for selling securities without authorization. Apparently, Wendel’s license was terminated when he made the sales. Also, Wendel purportedly sold unregistered securities.
FINRA Bars Chris Wendel For Selling Woodbridge Promissory Notes
On June 1, 2018, Wendel accepted the sanction of a permanent bar by FINRA to resolve allegations that he engaged in private securities transactions. It seems that in 2017, he sold $343,500 in promissory notes in Woodbridge Mortgage Investment Funds to investors for compensation without telling SA Stone Wealth Management. Notably, FINRA mentioned that Wendel testified falsely about selling these promissory notes. It seems that Wendel admitted to his participation of the notes transactions. Apparently; however, he was not telling the truth about the transactions occurring after he left SA Stone Wealth Management.
Losses From SA Stone Broker Chris Wendel?
Have you experienced losses by investing with Chris Wendel? If you have, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a potential recovery of your investment losses. Soreide Law Group provides representation to clients on a contingency fee basis and advances costs. The law firm has recovered millions of dollars for clients who have experienced losses due to misconduct of securities brokers like Wendel.