CLAUS C. FOERSTER (CRD# 1912949)
was barred by FINRA for allegedly soliciting his clients to invest in a fictitious entity marketed by Foerster as an income-oriented investment, and converting those investments for his own personal use. Foerster converted approximately $3 million from clients.
FINRA's findings stated that Claus Foerster allegedly had clients move funds from their brokerage accounts to their personal accounts and write checks from their personal accounts to the entity. This entity was not an investment fund, but a bank account controlled by Claus Foerster.
FINRA's findings reported that Foerster also provided some clients with fictitious account statements and made monthly payments to two clients.
(FINRA Case #2014-041483401)
Claus Foerster, according to FINRA's BrokerCheck, was previously registered with the following securities firm(s):
Registered Dates Firm
02/2013 - 06/2014 RAYMOND JAMES & ASSOCIATES, INC. (CRD# 705) - GREENVILLE, SC
02/2008 - 02/2013 MORGAN KEEGAN & COMPANY, INC. (CRD# 4161) - GREENVILLE, SC
07/1997 - 02/2008 CITIGROUP GLOBAL MARKETS INC. (CRD# 7059) - SPARTANBURG, SC
03/1989 - 07/1997 J.C. BRADFORD & CO. (CRD# 1287) - NEW YORK, NY
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