Securities Arbitration Investment Fraud Lawyers » Investment and Regulatory News » FINRA Sanctions SA Stone Wealth Management Stockbroker For Selling Away

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Chad Mitchell Koehn of Overland Park, Kansas, a stockbroker registered with SA Stone Wealth Management Inc., has been fined $10,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Koehn engaged in private securities transactions or selling away. Letter of Acceptance, Waiver, and Consent No. 2021069470101 (October 21, 2022).

According to the AWC, between August 2020 and October 2020, during the time that he was associated with SA Stone Wealth Management, Koehn engaged in private securities transactions affecting 59 individuals in a company that purported to own software development and blockchain technology. This led to approximately $1,475,000.00 in sales. Koehn did not provide prior written notice to SA Stone Wealth Management Inc. or otherwise get its approval to take part in those transactions. Therefore, Koehn violated FINRA Rules 2010 and 3280.

FINRA Public Disclosure shows that Koehn is referenced in three customer initiated investment related disputes concerning Koehn’s conduct while associated with securities broker dealers, including Waddell Reed Inc. and Sterne Agee Financial Services Inc. On April 26, 2004, a customer filed an investment related complaint involving Koehn’s conduct in which the customer requested $6,850.00 in damages based upon allegations that Koehn made omissions of material fact in connection with the recommendation and sale of variable annuities during the time that Koehn was associated with Waddell Reed Inc.

On September 21, 2010, a customer initiated investment related complaint involving Koehn’s conduct was settled to resolve allegations that Koehn failed to follow the Sterne Agee Financial Services Inc. customer’s instructions.

Koehn was also referenced in a complaint filed on January 9, 2017, in which the customer requested $5,916.00 in damages based upon allegations that Koehn mismanaged investment accounts at Sterne Agee Financial Services Inc.

Koehn was associated with SA Stone Wealth Management Inc. in Salina, KS, as a stockbroker from January of 2004 to October of 2020.