Christopher Thomas Tolmacs of Portage Michigan a stockbroker formerly registered with Triad Advisors is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer sought $225,000.00 in damages based upon allegations of the violation of securities rules and the breach of fiduciary duty by the stockbroker as it pertained to a business development company that he sold to the customer while registered with Triad Advisors. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-04066 (Dec. 23, 2020). The claim alleges that the customer received unsuitable recommendations from Tolmacs regarding the alternative investment.

FINRA Public Disclosure confirms that Tolmacs has been referenced in 13 additional customer initiated investment related disputes containing accusations of his wrongdoing during the time that he was registered with securities broker dealers including Triad Advisors. On August 22, 2018, a customer initiated investment related FINRA securities arbitration claim concerning Tolmacs’ conduct was settled for $34,250.00 in damages founded on allegations that the customer’s investment funds had been used by Tolmacs for his own personal benefit. FINRA Arbitration No. 18-02488.

Tolmacs is also the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $95,000.00 in damages supported by accusations of unsuitable alternative investments including BDCs and equipment leasing securities. FINRA Arbitration No. 18-01037 (Feb. 19, 2019). According to the claim, funds that the customer loaned to Tolmacs were not repaid.

On December 23, 2020, another customer filed an investment related FINRA securities arbitration claim regarding Tolmacs’ conduct where the customer requested $71,685.00 in damages based upon allegations of omissions and misrepresentations by Tolmacs as it pertained to the customer’s investment in a business development company. FINRA Arbitration No. 20-04151. According to the claim, Tolmacs’ unsuitable recommendations and breach of fiduciary duty resulted in damages to the customer. Accusations also include breach of contract and negligence.

On April 22, 2021, a different customer initiated investment related FINRA securities arbitration claim involving Tolmacs’ activities was settled for $125,000.00 in damages founded on allegations that Tolmacs provided unsuitable recommendations of direct participation programs or limited partnership interests. FINRA Arbitration No. 20-02088. The claim alleges that the customer’s individual retirement account was concentrated in illiquid private placements.

Tolmacs has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he obstructed a FINRA investigation concerning his potential misrepresentations and omissions and his conversion of customer funds. Letter of Acceptance Waiver and Consent No. 20160489663. Tolmacs violated FINRA Rules 2010 and 8210 for his refusal to both testify and provide the regulator with information about his trading and loan arrangements.

Tags: ,

Comments are closed.