Securities Arbitration Investment Fraud Lawyers » Investment and Regulatory News » Utah Bars Sigma Financial Corporation Stockbroker For Selling Away

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Fredrick Martin Randhahn (also known as Fred Randhahn and Frederick Martin Randhahn), of Ogden, Utah, a stockbroker registered with Sigma Financial Corporation, has been barred as a stockbroker by Utah Division of Securities based upon allegations that Randhahn violated state securities laws. In the Matter of Fred M. Randhahn, Notice of Agency Action, Docket No. SD-21-0006 (December 2, 2021).

This is not the first time that Randhahn has been the subject of a regulatory action concerning Randhahn’s conduct in the securities industry. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Randhahn has been fined $5,000.00 and suspended for nine months from associating with any FINRA member in any capacity because Randhahn engaged in private securities transactions or selling away. Letter of Acceptance, Waiver, and Consent No. 2018059663501 (November 14, 2019).

According to the AWC, during the time that he was associated with Sigma Financial Corporation, Randhahn participated in private securities transactions involving $625,000.00 in promissory note sales. FINRA states that Randhahn solicited investors to buy promissory notes in connection with Woodbridge Group. He received $33,167.67 in commissions from the transactions.

Randhahn failed to get permission from the securities broker dealer to engage in these private transactions. He violated FINRA Rules 2010 and 3280.

FINRA Public Disclosure shows that Randhahn is referenced in two customer initiated investment related disputes concerning Randhahn’s conduct while associated with Sigma Financial Corporation. On March 9, 2020, a customer initiated investment related FINRA securities arbitration claim involving Randhahn’s conduct was settled for $175,000.00 in damages resulting from fraudulent investments in Woodbridge Mortgage Investment Fund. FINRA Arbitration No. 18-03656.

On June 30, 2020, another FINRA securities arbitration claim involving Randhahn’s conduct was settled for $47,840.40 in damages resulting from the customer’s purchase of Woodbridge Mortgage Investment Fund. FINRA Arbitration No. 20-01056.

Randhahn was associated with Sigma Financial Corporation in Ogden, UT, as a stockbroker from January of 2012 to August of 2018. On August 24, 2018, Sigma Financial Corporation discharged Randhahn based upon allegations that Randhahn sold unauthorized investments to customers.