Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on November 28, 2016 indicate that former South Carolina-based Raymond James broker Claus Foerster has been indicted for on felony charges of fraud. 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; Citigroup Global Markets in Spartanburg, South Carolina; and JC Bradford & Company in New York, New York. He is currently not registered with any state or firm.
According to his BrokerCheck report, Claus Foerster is the subject of pending criminal charges.
In March 2016 Claus Foerster was indicted on five felony counts of wire fraud in the US District Court for the District of South Carolina. The charges remain pending.
In 2014 FINRA sanctioned Claus Foerster following allegations he solicited investments in a “fictitious entity,” of the funds that were invested, converted more than $3 million for his personal use. He was permanently barred from associating with any FINRA member firm in any capacity.
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, misrepresented material facts related to an investment, effected unauthorized transactions, executed excessive transactions, committed fraud, and participated in violations of the South Carolina Uniform Securities Act. The complaint settled in 2015 for $150,000.
If you have lost money investing with Claus Foerster, you may be able to recover your losses. 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 collect funds. 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.