John Patrick Priebe of Waseca Minnesota a stockbroker currently registered with Principal Securities Inc. (also known as Princor Financial Services Corporation) is the subject of a customer initiated investment related arbitration claim where the customer sought $900,000.00 in damages based upon accusations that (1) Priebe executed mutual fund and options transactions in the customer’s account that were not suitable for the customer and (2) Priebe neglected to place the customer in the appropriate investment allocation. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-01531 (July 6, 2017).
FINRA Public Disclosure confirms that Priebe is referenced in two additional customer initiated investment related disputes containing allegations of his transgressions while employed with Principal Securities, Inc. Specifically, on March 17, 2011, a customer filed an investment related complaint regarding Priebe’s conduct in which the customer requested unspecified damages supported by accusations that the customer was placed into unsuitable mutual fund and insurance products, and the customer’s account transactions were not supervised by Principal Securities Inc.
Then, on April 4, 2011, a customer filed an investment related complaint involving Priebe’s activities where the customer sought $7,000.00 in damages founded on allegations that a variable annuity purchased with the customer’s individual retirement account funds was not suitable for the customer.
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