Public records published by the Financial Industry Regulatory Authority (FINRA) on May 26, 2016 indicate that former Missouri-based Oakbridge Financial Services broker Steven Larson is currently not licensed to act as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Larson (CRD# 2422755).
Steven Larson has spent 22 years in the securities industry and was most recently registered with Oakbridge Financial Services in St. Louis, Missouri (2011-2016). Previous registrations include Gardner Financial Services in Minneapolis, Minnesota (2006-2011); Moloney Securities in Minneapolis, Minnesota (2000-2006); and Edward Jones in St. Louis, Missouri (1994-2000). He is currently not registered with any state or firm.
According to his BrokerCheck report, Steven Larson is the subject of a pending regulatory complaint and a pending regulatory investigation, and was recently discharged from Oakbridge Financial Services.
In May 2016, Steven Larson was named respondent in a FINRA complaint alleging he “made numerous misstatements or omissions of material facts concerning the present values and safety of church bonds… issued by religious organizations to construct or develop real property, and which are secured by first mortgages on the real property to be constructed or developed.” According to FINRA, Mr. Larson made misstatements so as to mislead customers about the true value of these bonds, many of which “had already gone into default, bankruptcy, forbearance, or restructuring,” despite his representations that they retained all of or more than their original value. FINRA additionally alleges that Mr. Larson “knowingly and willfully withheld documents and information from FINRA in connection with its investigation into the outside business activities of a former registered representative of Larson’s member firm, and the former registered representative’s termination from the firm,” and “signed and backdated several documents, which he then supplied and represented as genuine to the president of the firm.” The complaint remains pending.
In May 2016, the State of Missouri launched an investigation into allegations that Steven Larson engaged in, among other things, dishonest and unethical practices. The investigation remains pending.
In May 2016, Steven Larson was discharged from his position at Oakbridge Financial Services after he was named in a FINRA complaint and a state regulatory investigation.
If you have lost money investing with Steven Larson, you may be entitled to recover lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you recover money. By law you may have a limited time to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.