Karl Foust Subject Of $1.1M In Customer Disputes With Wimbledon Health Partners Investments

Karl Ronald Foust, Jr. (CRD #1010291) is a formerly registered broker and investment advisor who was last registered with H.D. Vest Investment Services (CRD #13686) of Boca Raton, FL. His previous employers include Gunnallen Financial, Inc. (CRD #17609) of Delray Beach, FL, Thomas James Associates, Inc. (CRD #15609) and Apple Financial Corporation (CRD #10375). No current employment information is available. He has been in the industry since 1981.

Foust currently has seven disclosures on his record, all customer disputes, one of which was closed without action. These customer disputes were all filed in the period between June 2017 and July 2018.

All of these disputes (including the closed case) are currently listed as “pending.” The common thread through each of these claims is Foust’s recommendations of the client’s investments in Wimbledon Health Partners, LLC, and failing to disclose his own involvement with the firm, a conflict of interest. Payments promised were not made to clients, and total damages of these claims comes to $1,198483.34.

Wimbledon Health Partners, LLC, is a company based in Boca Raton, FL, that conducts in-office diagnostic testing for physicians. The company took out a $2 million credit line from Compass Bank on November 17, 2016, and was in default by December 1. Compass Bank filed suit on January 4, 2018, just two months after the loan.

On November 29, 2016, the company’s office was raided by the FBI. The company was under investigation for healthcare fraud, and according to a local TV station, agents removed boxes of documentation. Their website has been suspended.

Comments on employment sites Glassdoor and Indeed indicate that the company experienced high turnover, engaged in “shady practices” and was a hostile place to work.

Did You Invest With Karl Foust Or In Wimbledon Health Partners, LLC?

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