According to the Financial Industry Regulatory Authority (FINRA), former Texas-based FSC broker Richard Ohlhaber has been permanently barred from acting as a broker. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Ohlhaber (CRD# 2154794).
Richard Ohlhaber has spent 21 years in the securities industry and was most recently registered with FSC Securities, part of the AIG Advisor Group, in Grapevine, Texas (2012). Previous registrations include Southwest Securities in Southlake, Texas (2008-2012); Century Securities Associates in Southlake, Texas (2007-2008); Stifel Nicolaus & Company in Southlake, Texas (2001-2007); Josephthal & Company in New York, New York (1998-2001): HJ Meyers in Rochester, New York (1993-1998); Emanuel & Company in New York, New York (1992-1993); and Baring & Brown (1991). Of Mr. Ohlhaber’s former employers, three have since been expelled by FINRA: HJ Meyers, Emanuel & Company, and Baring & Brown. He is currently not registered with any state or firm.
According to his BrokerCheck report, Richard Ohlhaber is the subject of three regulatory sanctions, two customer complaints, one pending customer complaint, and five customer complaints that were closed or denied.
In 2013 FINRA sanctioned Richard Ohlhaber following allegations, among others, he sold life insurance contracts by an unapproved entity and received over $300,000 in commissions from the entity for doing so. Richard Ohlhaber was permanently barred from the securities industry.
In 2013 a customer alleged Richard Ohlhaber, while employed at Southwest Securities, misrepresented material facts related to a variable annuity purchase and provided poor advice. The customer sought more than $148,500 in damages in the complaint, which was denied.
In 2012 a customer alleged Richard Ohlhaber, while employed at Southwest Securities, made unsuitable investment recommendations. The complaint settled for $18,000.
In 2004 the State of Indiana sanctioned Richard Ohlhaber following unspecified allegations involving past regulatory actions and disclosures. He was issued a restrictive agreement for registration.
In 2003 the Securities and Exchange Commission (SEC) sanctioned Richard Ohlhaber following allegations he failed to reasonably supervise the activities of registered representatives at Josephthal & Company, many of whom had a history of customer complaints. Allegedly, one of these individuals executed nineteen unauthorized trades. Mr. Ohlhaber was issued a fine of $50,000 and a 3-year bar from acting in a supervisory capacity with any broker or dealer.
In 2001 a customer alleged Richard Ohlhaber, while employed at Josephthal & Company, breached his fiduciary duty, churned the account, and recommended unsuitable investments. The complaint resulted in an award to the customer of $147,238.
If you have lost money investing with Richard Ohlhaber, you may be able to recoup lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. Fitapelli Kurta accepts all cases on contingency: we only receive payment 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.