JEROME S. KRAUSE (CRD# 1582647) Alternate Name: JERRY KRAUSE,
formerly with First Heartland Capital Inc., must pay $600,000 in damages to an elderly couple after he allegedly took money from them, according to the Financial Industry Regulatory Authority Inc. (FINRA).
FINRA stated that Jerome S. Krause’s clients, both in their 80s, claimed Krause used his position of trust and their vulnerability as elderly, to take more than $150,000 from them, saying the money would be loans. Allegedly, Krause borrowed more than $150,000 from 2010 to 2014, liquidating some of their investments so he could finance the loans. This was done without their knowledge or consent. They also allege that First Heartland Capital in St. Louis failed to supervise Jerry Krause.
First Heartland Capital terminated Jerome S. Krause in 2012 after a client alleged he borrowed from her by liquidating a variable annuity. First Heartland prohibits borrowing from clients.
Also, the FINRA panel awarded $18,000 for the client’s attorney fees.
JEROME S. KRAUSE was registered in the securities industry for 24 years with the following firms:
08/2005 - 02/2012 FIRST HEARTLAND CAPITAL, INC. - MEMOMONEE FALLS, WI
06/1987 - 09/2005 THRIVENT INVESTMENT MANAGEMENT INC. - MINNEAPOLIS, MN
If you were a former client of JEROME S. KRAUSE who was with First Heartland Capital, and you experienced losses due to his recommendations or actions, call Soreide Law Group and speak to a lawyer at no cost regarding the possibility of recovering your investments at: 888-760-6552.
Soreide Law Group operates on a contingency basis and represents clients nationwide before FINRA.
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