Soreide Law Group is reviewing possible investor claims against securities broker Terrence Edward Bonk (CRD#: 1011846, Inter Grove Heights, Minnesota). Namely, the Financial Industry Regulatory Authority (“FINRA”) suspended the prior Feltl & Company securities broker until December 1, 2020 and issued him a $10,000 fine for borrowing money from his client. Additionally, two of Bonk’s clients brought disputes about him. Here’s more:
FINRA Deals Suspension, Fine To Terrence Bonk For Borrowing From Client
Evidently, on February 25, 2020, Terrence Bonk entered into a Letter of Acceptance, Waiver and Consent with FINRA which called for his suspension from March 2, 2020 to December 1, 2020 and payment of a $10,000 fine to resolve allegations that he borrowed from a client without notifying Feltl & Company or getting its written approval. Apparently, when the client demanded repayment, Bonk supposedly told the client to make it look like Bonk’s brother borrowed from him. Supposedly, the securities broker also gave false statements to Feltl & Company about this. During the suspension, Bonk is not allowed to act as a broker.
Oppenheimer Client Indicates That Bonk Sold Unsuitable Investments
Apparently, on December 7, 2017, a client of Oppenheimer brought a dispute about Terrence Bonk to the firm’s attention. Mainly, the client suggested that Bonk invested the client in unsuitable investments that included stocks, mutual funds and ETFs. Not only that, but the client indicated that Bonk was churning his account. For this reason, the client demanded $350,000 in compensation. However, this claim was denied.
Terrence Bonk Supposedly Made Unauthorized Trades In RBC Client’s Account
Evidently, an RBC Capital Markets client filed a dispute about Terrence Bonk in 2012. It seems that the client was not invested conservatively despite the client’s investment profile. It is possible that Bonk failed to take suitability into account. Also, the client suggested that he did not authorize Bonk’s trades of OTC equities and stocks. Apparently, RBC Capital Markets denied this client’s demand of $152,937.00 in compensation.
Losses From Investing With Terrence Bonk?
Have you experienced losses by investing with securities broker Terrence Bonk? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances 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 Bonk.