34-Year Career of Wisconsin-based Broker James Paul Kolf Comes to an Abrupt End

Allegations of securities fraud and violation of the Securities Exchange Act of 1934 drive FINRA action to permanently bar Kolf

According to the Financial Industry Regulatory Authority (FINRA), broker James Kolf allegedly recommended and sold at least $588,000 in securities to twelve firm customers between October 2013 and July 2014. These customers believed they were investing in securities of “SFN Financial Network,” however, such securities did not actually exist. Instead, Kolf is reported to have used his customer’s funds to pay for his own business and personal expenses. Taking it a step further, Kolf allegedly then created and distributed falsified account statements to his customers reflecting their interests in the fake investments.

Such allegations of fraud and material misrepresentation ended what to date had been a spotless career in the securities industry.

James Kolf began as a broker in 1981 in Boston, Massachusetts where he worked for John Hancock Mutual Life Insurance Company until 1997. Signator Investors, Inc. in Madison, Wisconsin concurrently employed him from 1981 to 2009. Upon leaving Signator, Kolf worked for New England Securities and then MetLife Securities, both in Middleton, Wisconsin until he joined his last firm, NYLife Securities in Madison, Wisconsin for a brief period from May to August of 2016.

Since Kolf’s permanent bar from the industry in September 2016, a total of five customer disputes have been filed against him.

If you were one of his clients, it would be in your best interest to learn more about the allegations against him. You can read his FINRA BrokerCheck report and also get in touch with the Silver Law Group.

The attorneys at Silver Law Group are leaders in the field of securities arbitration. We represent individual and institutional investors across the United States who have lost money at the hands of a trusted financial advisor. Scott Silver is currently the chairman of the American Trial Lawyers Association, Securities and Financial Fraud Group and routinely represents investors in securities arbitration claims.

If you lost money as the result of his potentially illegal actions, we may be able to help you recover it. Contact us at 1-800-975-4345 or fill out our contact form for a free consultation from an experienced arbitration lawyer.