Kristian M. Gaudet of Cut Off Louisiana a stockbroker formerly registered with Ameritas Investment Corp. is referenced in a customer initiated investment related arbitration claim where the customer sought $538,500.00 in damages supported by accusations that (1) the customer’s account was administered negligently (2) Ameritas Investment Corp. failed to supervise Gaudet’s activities and (3) private securities transactions failed to be suitable for the customer and had resulted in unwarranted losses. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-02023 (July 30, 2019).
FINRA Public Disclosure confirms that Gaudet has been identified in two more customer initiated investment related disputes that concern allegations of his misconduct during the period in which he was employed by Ameritas Investment Corp. Specifically, on May 10, 2019, a customer initiated investment related complaint concerning Gaudet’s activities was resolved for $7,853.32 in damages founded on accusations of omissions concerning the penalties for accessing funds from the customer’s variable annuity policy.
Also, a customer filed an investment related arbitration claim concerning Gaudet’s activities in which the customer requested $565,000.00 in damages based upon allegations that Ameritas Investment Corp. failed to supervise the transactions executed by Gaudet; the customer was fraudulently placed into promissory note investments; and false or misleading statements had been made concerning the terms and conditions of investments sold to the customer. FINRA Arbitration No. 19-01801 (July 2, 2019).
FINRA Public Disclosure additionally reveals that Gaudet has been barred from associating with any FINRA member in any capacity founded on findings that Gaudet obstructed the regulator’s investigation into accusations of Gaudet’s misappropriation of funds belonging to a customer of Ameritas Investment Services. Letter of Acceptance Waiver and Consent No. 2018060600901 (Jan. 24, 2019).
According to the AWC, FINRA received a Form U5 from Ameritas Investment Corp. that indicated that Gaudet was the subject of an internal investigation for taking a customer’s funds for his personal use. Gaudet was found by the firm to have used the customer’s funds without authorization. The AWC stated that an investigation was subsequently commenced by FINRA into Gaudet’s misuse of the customer’s funds as referenced by the securities broker dealer. The stockbroker failed to provide recorded testimony to the regulator, and subsequently confirmed that there would be no point in which he would testify into the allegations of his misconduct. FINRA determined that Gaudet’s refusal constituted violations of FINRA Rules 2010 and 8210.
