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Raymond James Broker, Claus Foerster, Barred by FINRA

Claus Foerster

Former South Carolina-based Raymond James broker Claus Foerster 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. Foerster (CRD# 1912949).

Claus Foerster has spent 25 years in the securities industry and was most recently registered with Raymond James & Associates in Greenville, South Carolina (2013-2014). Previous registrations include Morgan Keegan & Company in Greenville, South Carolina (2008-2013); Citigroup Global Markets in Spartanburg, South Carolina (1997-2008); and JC Bradford & Company in New York, New York (1989-1997). He is currently not registered with any state or firm.

According to his BrokerCheck report, Claus Foerster is the subject of one regulatory sanction, one pending regulatory investigation, two customer complaints, two pending customer complaints, and two customer complaints that have been denied. He was additionally discharged from his position at Raymond James & Associates.

In 2015 a customer alleged Claus Foerster, while employed at Citigroup Global Markets, misappropriated funds from October 2000 through April 2014. The customer is seeking unspecified damages in the pending complaint.

In 2014 FINRA sanctioned Claus Foerster following allegations he solicited customers to invest in a “fictitious entity” and then converted more than $3,000,000 in invested funds for his own personal use. According to FINRA’s complaint, the entity was purported to be an income-oriented investment but was in fact Mr. Foerster’s personal bank account. Mr. Foerster was permanently barred from associating with any FINRA member firm in any capacity.

In 2014 Claus Foerster was named respondent in an investigation by the State of South Carolina into allegations he violated the South Carolina Uniform Securities Act. The investigation remains pending.

In 2014 a customer alleged Claus Foerster, while employed at Citigroup Global Markets, embezzled funds. The complaint settled for $250,000.

In 2014 a customer alleged Claus Foerster, while employed at Morgan Keegan and Raymond James & Associates, executed unauthorized and excessive trades, misrepresented material facts, acted negligently, committed fraud, and violated the South Carolina Uniform Securities Act. The complaint settled in 2015 for $150,000.

In 2014 a customer alleged Claus Foerster, while employed at Raymond James & Associates, misappropriated funds and committed forgery. The customer is seeking $82,500 in damages in the pending complaint.

In 2014 Claus Foerster was terminated from his position at Raymond James & Associates following allegations he admitted to theft of client funds.

If you or someone you know has lost money investing with Claus Foerster, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: you will only pay Fitapelli Kurta 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.