John Michael Krohn (also known as John Micheal Krohn) of West Des Moines, Iowa, a stockbroker formerly registered with Principal Securities Inc., is identified in a customer initiated investment related FINRA securities arbitration claim which was resolved for $250,000.00 in damages based upon allegations of Principal Securities’ failure to supervise Krohn, in connection with the sale of unregistered securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-00561 (November 4, 2021).
FINRA Public Disclosure shows that Krohn has been identified in four additional customer initiated investment related disputes regarding accusations of his activities while employed by Principal Securities. On September 7, 2017, a customer filed an investment related complaint involving Krohn’s conduct where the customer sought $97,000.00 in damages founded on allegations of Krohn’s selling away activities which resulted in the customer’s investment in a private placement.
On April 6, 2020, another customer filed an investment related FINRA securities arbitration claim concerning Krohn’s activities in which the customer requested $10,000,000.00 in damages supported by accusations of the failure to supervise to prevent private securities transactions when he was associated with Principal Securities. FINRA Arbitration No. 20-00936. This claim was withdrawn.
Krohn is also referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $3,999,999.00 in damages based upon allegations of Krohn soliciting customers’ funds for investments in companies that he managed, controlled, or owned while he was employed by Principal Securities. FINRA Arbitration No. 19-00520 (August 30, 2021).
Krohn has been fined $10,000.00 and suspended for three months from associating with any FINRA member in any capacity supported by findings of Krohn’s private securities transactions and outside business activities during the time that he was registered with Principal Securities. Letter of Acceptance Waiver and Consent No. 2017052852801 (May 29, 2018). Krohn violated FINRA Rules 3280, 3270, and 2010.
Krohn was associated with Principal Securities between March 26, 1996, and January 12, 2017.
