Investor Alert > Investor Rights Attorneys Investigate Fraud Allegations Against Barred Broker Steven Rodemer
Posted Sep 14, 2020
by Alan Rosca

Investor Rights Attorneys Investigate Fraud Allegations Against Barred Broker Steven Rodemer

STIFEL NICOLAUS broker Steven RodemerFormer Stifel Nicolaus Broker Steven Dale Rodemer Barred By SEC for Alleged Fraud

On September 11, one week after it filed the complaint against former Colorado broker Steven Rodemer bringing allegations of fraud, the United Securities and Exchange Commission (SEC) issued an order barring him from association with a broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or NRSRO, or participation in any offering of a penny stock.

According to the complaint, between 2012 and 2019, Rodemer misappropriated more than $450k from an elderly client. The misappropriated funds were allegedly used to cover personal expenses such as construction and maintenance costs on his vacation home, insurance premiums, or credit card payments.

In addition to misappropriating client’s funds, the SEC alleges that former broker Steven Rodemer tried to conceal his misconduct by providing his client with false statements. The SEC also alleged that Rodemer continuously breached his fiduciary duties and defrauded his client by writing checks and withdrawing cash from client’s account for Rodemer‘s own benefit, the complaint states.

Investor rights attorneys Alan Rosca and Paul Scarlato, of the Rosca Scarlato LLC law firm, often represent investors who have been victims of fraud or broker misconduct, and they are investigating activity related to Rodemers’ alleged violations. Investors concerned about their investments with Steven Rodemer are encouraged to contact attorney Alan Rosca, or his colleagues, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this page. All case evaluations are free.

Broker Steven Rodemer loss recoveryFINRA Bars Steven D. Rodemer For Similar Allegations

According to the FINRA Letter of Acceptance, Waiver and Consent singed by former broker Steven Rodemer on March 23, 2020, FINRA commended investigating Rodemer once it became aware of the Form U5 filed by his former employer, Stifel, Nicholaus & Company, Inc. Reportedly, Rodemer took money from a client account for his personal use without authorization from the client, and this alleged conduct lead to his termination, the AWC states.

Rodemer initially cooperated with the investigation against him regarding his alleged activity of using client money for personal use, FINRA reports. However, he subsequently refused to provide on-the-record testimony requested by FINRA pursuant to Rule 83210. As a result, he has accepted and consented to him being barred from working or being associated with any FINRA member in any capacity including clerical or ministerial functions without admitting or denying the findings of the regulatory dispute.

Rodemer was a registered FINRA member since 1976. Among his more recent employers are Salomon Smith Barney in New York, Cascade Investment Group in Colorado Springs, and Sanders Morris Harris Inc. also based in Colorado Springs. Starting November 2011 to January 2020 Steven Rodemer was registered with Stifel, Nicholaus & Company, Inc as a Securities Representative and worked there for 8 years. According to his Brokercheck Report, Rodemer is no longer associated with a FINRA member firm.

Investors who believe they may have lost money in activity related to Steven Dale Rodemer’s alleged violation of FINRA rules, are encouraged to contact attorneys Alan Rosca or Paul Scarlato with any useful information or for a free, no obligation discussion about their options.

Steven Dale Rodemer Has a Customer Dispute Disclosure Alleging Breach of Fiduciary Duty

Steven D. Rodemer has a customer dispute disclosure alleging breach of fiduciary duty which requested a damage amount of $50,000. This customer dispute settled for $17,000, FINRA reports.

Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.

Lost Money with Steven Rodemer? Investor Rights Attorneys are Evaluating Potential Claims for Compensation 

The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or broker misconduct and are currently investigating Steven Dale Rodemers’ alleged violations. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients.

Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.

Rodemer has consented that FINRA may make a public announcement concerning his bar.  Investors who believe they lost money as a result of Steven Dale Rodemers ’ alleged violations of FINRA regulations or who believe Rodemer may have used their money improperly, may contact attorneys Alan Rosca or Paul Scarlato for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.

Contact us. All evaluations are free

DISCLAIMER

In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow matters about which we report, and/or to publish subsequent updates regarding various developments that may occur in such matters. Readers are encouraged to conduct their own research regarding any such matters and any developments that may or may not have occurred in such matters. Also, the Brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing by the reader. The information in our blogs is current as of the date of the drafting of the blog, and given that sometimes certain past complaints may no longer be listed in newer Brokercheck reports, some of the events referenced in some of our blogs may later on be removed from newer Brokercheck reports. Visitors may check the most recent version of each brokercheck report at www.finra.org, and may contact FINRA for the earlier version of the Brokercheck report upon which various blogs may be based.

If you believe you lost money as a result of investment-related fraud or misconduct, please contact our law firm for a free, no-obligation evaluation of your recovery options.

Contact us at 888‑998‑0530 or through the contact form on this page.
No recovery, no fees.*

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