Richard A. Kruithoff of Las Vegas Nevada a stockbroker formerly registered with NYLife Securities LLC is referenced in a customer initiated investment related written complaint which settled for $113,434.00 on October 20, 2017 founded on accusations that the customers were inappropriately placed into variable universal life insurance policies.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on December 5, 2016, another customer initiated investment related complaint concerning Kruithoff’s conduct was resolved for $240,220.37.00 in damages based upon allegations that while Kruithoff was associated with NYLife Securities LLC, customers were not provided adequate information about the premiums associated with variable universal life insurance policies when they were purchased. The customers additionally alleged that misrepresentations had been made to them concerning liquidity of fixed annuities.
Kruithoff’s registration with NYLife Securities LLC has been terminated as of August 17, 2016.
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