Broker Sheldon Harber Suspended and Fined

Sheldon HarberAccording to records provided by the Financial Industry Regulatory Authority (FINRA), former Missouri-based Geneos broker Sheldon Harber is currently not licensed to act as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is investigating allegations of misconduct against Sheldon Harber (CRD# 867340).

Sheldon Harber has spent 36 years in the securities industry and was most recently registered with Geneos Wealth Management in St. Louis, Missouri (2014-2016). Previous registrations include Cambridge Investment Services in St. Louis, Missouri (2002-2014); FSC Securities in Atlanta, Georgia (1993-2002); TransAmerica Financial Services in Los Angeles, California (1988-1993); TransAmerica Securities Sales Corporation in Los Angeles, California (1988-1993); Chubb Securities Corporation (1980-1988); and ManEquity (1970-1980). He is currently not registered with any state or firm.

According to his BrokerCheck report, Sheldon Harber is the subject of two regulatory sanctions and one customer complaint.

In 2016 FINRA sanctioned Sheldon Harber following allegations he “participated in private securities transactions by investing in a private company through an outside investment vehicle formed by him, and facilitated investments for other investors, some of whom were his customers at his member firm, without providing the firm with written notice prior to forming the investment vehicle or prior to investing in the company through the investment vehicle, and he also did not provide the firm with written notice prior to facilitating investments in the company for the investors and/or customers.”

According to FINRA’s complaint, the outside investment vehicle formed by Sheldon Harber was called Aisle411, LLC, or “Aisle Partners.” Mr. Harber and six other investors invested $435,000 in Aisle Partners, according to FINRA. Mr. Harber has signed a letter of Acceptance, Waiver and Consent agreeing to a 4-month suspension and a fine of $10,000.

In 2006 the State of Missouri sanctioned Sheldon Harber following allegations he unsuitably recommended an investment strategy that involved investors mortgaging their homes “to increase the amount of investable assets.” Mr. Harber was issued a $10,000 fine.

In 2006 a customer alleged Sheldon Harber, while employed at the Planning Group, made unsuitable investment recommendations. The complaint settled for $56,000.

If you have lost money investing with Sheldon Harber, 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.

Contact Information