Broker James Knee Allegedly Misappropriated Funds

Investor Alert! FINRA BrokerCheck discloses troubling information in regard to securities broker James “Jim” Edward Knee [CRD#: 1852920, Concord, New Hampshire]. Supposedly, at least 8 clients took issue with the securities broker, who worked for Ameriprise Financial Services between 2012 and 2015 and who also worked for Voya Financial Advisors from 2015 to 2016. Furthermore, FINRA barred the securities broker for refusing to testify in an investigation which centered on allegations against Knee of misappropriation. In sum, these disclosures suggest that Knee is hiding something from FINRA and that he sold inappropriate and misrepresented investments.

Ameriprise Financial Services Client Indicates That James Knee Misrepresented Risks

Notably, on February 26, 2019, an Ameriprise Financial Services client brought an investment dispute concerning James Knee. Notably, the client asserted that Knee misrepresented important terms of an AIG-issued annuity. As a result, the client requested $20,615.79 in compensation from Ameriprise Financial Services or Knee. Apparently, this complaint closed without resolution on March 13, 2019.

James Knee Allegedly Deceives Voya Client

Evidently, a client of Voya Financial Advisors contested James Knee’s actions by making a complaint on May 24, 2018. Allegedly, Knee deceived the client into buying variable annuities in 2016. It seems that the variable annuities which Knee possibly recommended or sold had caused the client to sustain losses. Consequently, Voya agreed to settle the client’s dispute on June 13, 2018 by paying the client $82,290.

FINRA Bars Knee For Stonewalling Investigation

Notably, on May 9, 2018, FINRA issued Acceptance, Waiver and Consent (“AWC”) #: 2016050984801 permanently barring James Knee in all capacities. Notably, FINRA found that Knee failed to comply with Rule 8210. Specifically, the financial industry watchdog wanted him to testify about allegations of the misappropriation of investor funds when he worked for Ameriprise Financial Services and Voya Financial Advisors. Knee refused to testify.

Voya Disaffiliates With Knee For Failing To Cooperate With Probe

Evidently, James Knee maintained an association with Voya Financial Advisors from November 2, 2015 to August 18, 2016. Notably, Voya ended the employment relationship with Knee when he did not cooperate with its internal investigation in regard to a gift that he may have received from a client.

Losses From Securities Broker James Knee?

Have you experienced losses by investing with James Knee? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel in regard to possibly recovering your investment losses. Soreide Law Group represents clients on a contingency fee basis and will advance all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities firms and brokers like Knee.