Public records published by the Financial Industry Regulatory Authority (FINRA) on June 28, 2016 indicate that former California-based Ameriprise broker Jim Seol has been named in a pending FINRA complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Seol (CRD# 2876279).
Jim Seol has spent 16 years in the securities industry and was most recently registered with Ameriprise Financial Services in Irvine, California (1997-2014). He was previously registered with IDS Life Insurance in Minneapolis, Minnesota (1997-2006). He is currently not registered with any state or firm.
According to his BrokerCheck report, Jim Seol has received one customer complaint and one pending FINRA complaint.
In May 2016, Jim Seol was named respondent in a FINRA complaint alleging that “while associated with a member firm, he formed an outside corporation as its President and CEO, and through the corporation, he solicited investments totaling $100 million from foreign customers in a limited partnership also formed by him.” According to FINRA’s allegations, Mr. Seol neither provided prior written notice to, nor received written approval from his member firm with respect to the creation of the outside corporation, formation of the limited partnership, or his plans to recommend customers invest in such. Mr. Seol also allegedly “falsely attested” in firm compliance questionnaires that he had disclosed all outside business activities. The complaint remains pending.
In 2014, Jim Seol was discharged from his position at Ameriprise Financial Services following allegations he violated company policy with respect to an undisclosed outside business activity.
In 2006, the Internal Revenue Service filed a tax lien totaling $46,490.72 against Jim Seol. The lien remains outstanding.
In 2004, a customer alleged Jim Seol, while employed at American Express Financial Advisors, recommended high risk mutual funds and sold her a life insurance policy “she did not need.” The complaint settled in 2006 for $500,000.
If you or someone you know has a complaint regarding Jim Seol, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup losses. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.