Soreide Law Group, a Securities Arbitration Law Firm, (888) 760-6552, obtained the following information on FINRA’s website under “Disciplinary and Other FINRA Actions, July, 2013.”
Jeffrey Elliott Ludwick (CRD #2267071, Registered Representative, San Antonio, Texas)
was suspended from association with any FINRA member in any capacity for three months. In light of Ludwick’s financial status, no monetary sanction has been imposed. Without admitting or denying the findings, Ludwick consented to the described sanction and to the entry of findings that he accepted a total of $25,000, in separate loans, from his customer, and, at the time of the loans, Ludwick was aware that his member firm’s policies and procedures prohibited borrowing money from customers.
FINRA's findings stated that the initial loan of $20,000 had a corresponding promissory note and the second loan of $5,000 did not have a corresponding promissory note. To date, Ludwick has failed to repay any of the loan amounts to the customer.
Also, FINRA's findings stated that Ludwick misrepresented that he was in compliance with the firm’s policies and procedures.
The suspension is in effect from May 20, 2013, through August 19, 2013.
(FINRA Case #2012034017101)
According to information listed on FINRA's BrokerCheck, Jeff Ludwick was previously registered with FINRA at the following brokerage firms:
USAA FINANCIAL ADVISORS, INC.
CRD# 129035
SAN ANTONIO, TX
03/2010 - 11/2012
WELLS FARGO ADVISORS, LLC
CRD# 19616
SAVANNAH, GA
06/2007 - 02/2010
CITIGROUP GLOBAL MARKETS INC.
CRD# 7059
SAVANNAH, GA
08/2001 - 07/2007
This ends the information obtained from FINRA’s website.
Soreide Law Group represents clients nationwide before FINRA. If you have sustained investment losses due to your stock broker/financial advisor’s recommendations, call for a free consultation with an attorney on how to potentially recover those losses: 888-760-6552.
Soreide Law Group is investigating potential investor claims involving Cambridge Investment Research following a FINRA disciplinary action concerning Unit Investment Trust (UIT) recommendations. In April 2026, FINRA censured Cambridge Investment Research after finding supervisory deficiencies involving certain UIT recommendations made to retail clients. Investors who incurred excessive fees, unnecessary costs, or other damages associated with […]
Soreide Law Group is investigating potential investor claims involving Infinity Financial Services after FINRA sanctioned the firm for supervisory failures involving deferred variable annuity exchanges and recommendations. Investors who incurred surrender charges or other losses in connection with variable annuity transactions recommended through Infinity should review the allegations that led to FINRA's disciplinary action against […]
Soreide Law Group is investigating potential investor claims involving losses in NextGenTech Investments LLC, a private fund managed by Sestante Capital LLC that purported to provide investors with economic exposure to shares of private companies, including Anduril Industries. Recent criminal proceedings involving Sestante Capital's manager have raised significant concerns regarding the offering, the representations made […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com