Investment News: “Finra panel directs broker to pay $600,000 for siphoning money from two older adults”

September 30th, 2016 by


A broker who worked for First Heartland Capital Inc. must pay $600,000 in damages to an elderly couple after allegedly siphoning money from them, according to the Financial Industry Regulatory Authority Inc.

Joyce and Keith Reuter, both in their 80s, were awarded the payment after claiming broker Jerome Scott Krause used his position of trust and their vulnerability as older adults to take more than $150,000 from them under the guise of loans, according to a Finra arbitration document. The hearing was in Milwaukee, Wis….

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