Michael Ohlemacher Discloses Allegations Of Outside Business Activities

Soreide Law Group is investigating possible investor claims against securities broker Michael Ohlemacher AKA Michael Burton Ohlemacher [CRD#: 5759091, Maumee, OH]. Evidently, FINRA sanctioned the securities broker, who worked for WS Brokerage Services. Allegedly, Ohlemacher engaged in an undisclosed outside business activity. Here is a brief summary FINRA’s allegations against Ohlemacher.

FINRA Sanctions WS Brokerage Services Securities Broker Michael Ohlemacher For Outside Business Activities

Notably, on July 11, 2022, FINRA issued Case #: 2021070251201 sanctioning Michael Ohlemacher for infractions. Specifically, FINRA imposed a three-month suspension and a $5,000 fine. Notably, FINRA alleged that Ohlemacher engaged in an undisclosed outside business activity.

Supposedly, between 2012 and 2020, while associated with W&S Brokerage Services Inc., Ohlemacher engaged in insurance related outside business activity while failing to provide prior written notice to W&S Brokerage. FINRA began its investigation into Ohlemacher after receiving a Uniform Termination Notice for Securities Regulation (Form U5), whereby W&S Brokerage discharged Ohlemacher due to the aforementioned allegations. Through its investigation, FINRA determined that Ohlemacher sold insurance products to firm clients through insurance companies that were not affiliated with W&S Brokerage and without prior authorization from the firm. Ohlemacher earned over $94,000.00 in commissions as a result of the sales. Additionally, Ohlemacher falsely attested that he had disclosed all outside business activities on five annual compliance questionnaires. Ohlemacher violated FINRA Rules 2010 and 3270.

WS Brokerage Services Disaffiliates With Securities Broker For Outside Business Activities

Also, Michael Ohlemacher worked for WS Brokerage Services. However, WS Brokerage Services disaffiliated with Ohlemacher. Evidently, WS Brokerage Services alleged that Ohlemacher engaged in an undisclosed outside business activity.

Recent Employer Information

Michael Ohlemacher worked for WS Brokerage Services in Maumee, OH, as a securities broker from April 16, 2010 to February 8, 2021.

Damages Resulting From WS Brokerage Services Securities Broker Michael Ohlemacher?

Have you experienced damages because of securities broker Michael Ohlemacher? If so, get in touch with Soreide Law Group at (888) 760-6552 and speak with a securities lawyer about a possible recovery of your investment losses. Soreide Law Group, who has successfully recovered money for investors throughout the United States, represents clients on a contingency fee basis and advances all costs. Ohlemacher and brokerage firms Ohlemacher was employed by deny any and all allegations of sales practice violations.