John Dale Ernst Allegedly Executed Undisclosed & Unapproved Private Securities Transactions, Netting $35,252 in Related Commissions
John Ernst allegedly executed undisclosed and unapproved private securities transactions, according to a Final Regulatory Dispute filed on Ernst’s FINRA BrokerCheck Report under review by investor rights attorney Alan Rosca.
The aforementioned dispute was filed on April 3, 2019, FINRA states, and further states that Ernst allegedly solicited investors to purchase promissory notes relating to a purported real estate investment fund and sold the promissory notes to four investors, three of whom were firm customers.
Said Dispute further alleges that Ernst allegedly received $35,252 in commissions in connection with the transactions, FINRA notes.
The Dispute also stated that on the annual compliance questionnaires which Ernst allegedly submitted to the firm, he purportedly indicated that he had not participated in any private securities activities without first obtaining written approval from the firm and that he had not sold promissory notes, FINRA states.
Investor rights attorney Alan Rosca, of the Rosca Scarlato LLC law firm, is investigating activity related to John Ernst’s alleged undisclosed and unapproved private securities transactions. Investors who believe they may have lost money in activity related to John Ernst’s alleged undisclosed and unapproved private securities transactions are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
John Dale Ernst Suspended & Fined $5K by FINRA, & Ordered Disgorgement of the Commissions in the Amount of Nearly $23K
John Ernst, based on the alleged aforementioned behavior, allegedly violated FINRA Rules, and thus was suspended, fined $5,000 and ordered disgorgement of the commissions in the amount of $22,752.00, FINRA states.
Ernst, without admitting or denying the findings, allegedly consented to the sanctions and to the entry of findings that he engaged in undisclosed and unapproved private securities transactions, FINRA notes. Ernst’s suspension is slated to last from April 15, 2019 until January 14, 2020, FINR notes.
Ernt was registered with Foresters Equity Services, Inc. in San Diego, CA from January 4, 2011 to March 12, 2018, 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 mentioned in this article, unless otherwise indicated.
Securities Lawyer Investigating
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating John Ernst’s alleged undisclosed and unapproved private securities transactions. 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.
Investors who believe they lost money as a result of John Ernst’s alleged undisclosed and unapproved private securities transactions may contact attorney Alan Rosca 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.
