EDWARD MATTHES Cause You Investment Losses?

Soreide Law Group is evaluating possible claims of misappropriation and other sales practice violations against Edward Matthes (CRD#: 2788055, Oconomowoc, Wisconsin). Namely, Matthes reports a shocking fifteen client disputes on FINRA BrokerCheck. Apparently, clients allegations suggest  Matthes misappropriated their investment funds and falsified account statements. Here is a summary of the disputes against Matthes:

April 11, 2019 Dispute Accuses Edward Matthes Of Unauthorized Transfers Of Client Funds


First, there is an April 11, 2019 complaint that a Mutual of Omaha Investors Inc. client filed in regards to Edward Matthes. Supposedly, Matthes misappropriated the client’s funds by transferring the client’s money into his bank account. Allegedly, the client did not authorize Matthes’ transactions. Not only that, but the client apparently received “fictitious” account statement in connection with the transaction. For this reason, the client demanded $86,228.00 in damages. However, this matter is unresolved.

April 5, 2019 Complaint Alleging Matthes Misappropriated Funds, Falsified Statements


A Mutual of Omaha Investor Services Inc. client complained about Edward Matthes in filing a April 5, 2019 complaint. Supposedly, Matthes unlawfully moved the client’s money into a bank account listed in Matthes’ name. Similarly to the first client, this client claims that Matthes also manufactured a fake statement regarding the client’s account. Apparently, this caused the client to depend entirely on social security. Not only that, but Matthes allegedly prevented the client from having access to funds to pay expenses. Therefore, the client alleged $232,937.72 in damages.

March 29, 2019 Complaint About Edward Matthes’ Alleged Misappropriation

Additionally, a client of Mutual of Omaha Investor Services Inc. brought a dispute alleging Edward Matthes misappropriated funds. Apparently, this client’s funds were slated for a Mutual of Omaha investment. However, the client’s funds were not invested according to the client’s instructions or expectations. Instead, Matthes supposedly placed the client’s funds in Matthes’ account for his personal use or benefit. Supposedly, Matthes fabricated account statements provided to the client. Now, the client requested $100,000.00 as compensation for the alleged misappropriation.

FINRA Bars Matthes For Refusing To Give FINRA Documents While Under Investigation

Evidently, FINRA barred Edward Matthes from associating with FINRA member brokerage firms in all capacities. Specifically, Matthes submitted Letter of Acceptance, Waiver and Consent (“AWC”) #: 2019061857901 on March 22, 2019. By FINRA accepting the AWC, it solidified FINRA’s findings that Matthes refused to cooperate while under FINRA investigation. Notably, FINRA stated that Matthes violated FINRA Rules 8210 and 2010.

The AWC shows that FINRA investigated Matthes because of a tip FINRA received. First, FINRA asked Matthes to provide documents and information. FINRA relied upon its investigative power under Rule 8210 to require Matthes’ production of the documents and information. Evidently, FINRA learned from Matthes’ attorney on March 18, 2019 that Matthes was not going to honor FINRA’s requests.

Lars Soreide Highest Ethical Standard Award 2018

Lars Soreide Highest Ethical Standard Award 2018

If you have experienced losses by investing with securities broker Edward Matthes, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.