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William Scholander Pled Guilty to Criminal Charges

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William Scholander

Public records published by the Financial Industry Regulatory Authority (FINRA) on May 11, 2017 indicate that former New York-based Radnor Trading & Research Company broker William Scholander has sanctioned by FINRA and pled guilty to criminal charges. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Scholander (CRD# 2938044).

William Scholander has spent fourteen years in the securities industry and was most recently registered with Radnor Trading & Research Company in New York, New York (2011-2015). Previous registrations include First Merger Capital in New York, New York; Seaboard Securities, which has been expelled by FINRA, in New York, New York; Martinez-Aymes Securities, which has been expelled by FINRA, in New York, New York; Basic Investors in New York, New York; Legend Securities in New York, New York; and New York Global Securities in New York, New York. He is currently not registered with any state or firm.

According to his BrokerCheck report, William Scholander has received two regulatory sanctions, one civil injunction, and has pled guilty to criminal charges.

In 2015 he was charged in the US District Court for the Northern District of Ohio with one felony count of wire fraud, and one felony count of conspiracy to commit securities and wire fraud, securities fraud, and wire fraud. In January 2017 he pled guilty to both counts and was sentenced to 20 months as to each count, followed by a period of supervised release. He was also ordered to pay restitution to the victims exceeding $843,400.

In 2016 FINRA sanctioned William Scholander following allegations he “willfully failed to disclose a customer complaint on his Form U4,” a complaint that alleged “a sales practice violation and contained a claim for compensatory damages.” He was issued a 6-month suspension from acting in any capacity in the securities industry.

In 2016 the Securities and Exchange Commission sanctioned him in connection to his guilty plea to criminal charges. He was barred from acting as a broker.

In 2015 the SEC filed a civil complaint against him alleging he participated in “ a series of sophisticated fraudulent schemes orchestrated by an individual and a series of confederates” involving “the control and manipulation of the common stock of various microcap issuers, including Lenco Mobile Inc., with the ticker symbol LNCM (“Lenco”); Kensington Leasing, Ltd., with the ticker symbol KNSL (“Kensington Leasing”); Wikifamilies Inc., with the ticker symbol WFAM (“Wikifamilies”); Casablanca Mining Ltd., with the ticker symbol CUAU (“Casablanca”); Lustros Inc. with the ticker symbol LSTS (“Lustros”); and Gepco, Ltd., with the ticker symbol GEPC (“Gepco”).” In August 2016 a final judgment was issued in which he was “permanently restrained and enjoined from violating” relevant securities laws and rules, and “permanently barred from participating in an offering of penny stock.”

If you have lost money investing with William Scholander, you may be entitled to recoup your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis, which means we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.