Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on May 9, 2017 indicate that former Nevada-based Fortune Financial Services broker John Olinghouse has been sanctioned by FINRA and suspended from acting as a broker. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Olinghouse (CRD# 2160093).
John Olinghouse has spent 23 years in the securities industry and was most recently registered with Fortune Financial Services in Sparks, Nevada (2015). Previous registrations include HD Vest Investment Services in Sparks, Nevada; ING Financial Partners in Sparks, Nevada; SunAmerica Securities in Phoenix, Arizona; and Waddell & Reed in Overland Park, Kansas. He has passed two securities industry examinations: Series 6 (Investment Company Products/Variable Contracts Representative Examination) and Series 63 (Uniform Securities Agent State Law Examination). He is currently not registered with any state or firm.
According to his BrokerCheck report, he has received one regulatory sanction and one customer complaint, and was discharged from a former employer.
In April 2017 FINRA sanctioned him following allegations he “altered customer documents he then submitted to his member firm, which caused the firm to have inaccurate books and records.” FINRA’s findings state further: “Olinghouse did so in some instances by cutting customers’ signatures from documents and pasting or taping the signatures onto new forms and then photocopying the forms. In other instances, Olinghouse used white-out to adjust information on forms that had already been signed by customers. The findings also stated that Olinghouse settled a customer complaint away from his firm without notifying or obtaining the approval of his firm. While Olinghouse was registered with his firm, he was the subject of a civil complaint involving one of his customers. The complaint alleged, in part, that Olinghouse had rendered improper financial advice. Olinghouse, however, did not bring this complaint to the attention of the firm. Rather, Olinghouse settled the complaint by executing a settlement document and writing a check for $5,000.” He was issued a one-year suspension and a fine of $15,000.
In 2015 he was terminated from HD Vest Investment Services following allegations he altered customer documents.
In 2015 a customer’s guardians alleged John Olinghouse, while employed at HD Vest Investment Services, provided improper advice that resulted in losses. The complaint settled for $5,000.
If you have lost money investing with John Olinghouse, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 without delay. You may be entitled to recoup your losses. We accept all cases on contingency: Fitapelli Kurta only gets paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.