Goodman & Nekvasil P.A., May Recover Investor Losses | Jim Young, Financial Advisor Jim Young Barred from the Securities Industry
Jim Young aka James Arthur Young III CRD #4205459
-Investor Update- Jim Young was arraigned in U.S. District Court in Pensacola after a federal grand jury returned an indictment charging Jim Young with two counts of wire fraud and three counts of failure to file tax reutrns. According to the Pensacola News Journal the indictment alleges Jim Young aka James Arthur Young III, solicited Jim Young’s clients and others to invest money in false “side investments” in real estate and natural resource rights between 2010 and 2014 while working a financial planner. In some instances, according to the Pensacola News Journal, Jim Young is alleged to have used money from investors to pay back other investors, fraudulently representing the funds were returns or interest on their investments to keep the scheme going.
From 2013 until Jim Young’s firing in 2014, Jim Young was licensed with Ameriprise Financial Services, Inc. Jim Young was previously licensed with United Planners’ Financial Services of America a Limited Partner. According to FINRA’s records, Jim Young was fired by Ameriprise Financial Services, Inc. on July 21, 2014. Ameriprise Financial Services, Inc. reported to FINRA that Jim Young was fired for policy violations including soliciting and accepting funds from clients for investments outside of Ameriprise, borrowing funds from clients and engaging in unapproved outside business activities.
Subsequent to Jim Young’s firing by Ameriprise Financial Services, Inc., FINRA investigated Jim Young and brought a disciplinary action against Jim Young. Jim Young was barred from the securities and investment banking industry on February 2, 2015. FINRA reports that Jim Young failed to respond to FINRA request for information.
FINRA reports that three complaints and/or arbitration claims involving Jim Young’s conduct with Ameriprise Financial Services, Inc. and/or United Planners’ Financial Services of America a Limited Partner were filed, alleging unsuitable investment recommendations, embezzlement, and/or other allegations. These complaints and/or arbitration claims all settled, with the largest settling for $86,900.
If you lost any money on investments with Jim Young while Jim Young was employed with Ameriprise Financial Services, Inc. and/or United Planners’ Financial Services of America a Limited Partner, you may be able to recover your losses from Ameriprise Financial Services, Inc. This is because Ameriprise Financial Services, Inc. and United Planners’ Financial Services of America had a duty to supervise Jim Young.
If you lost money on investments with Jim Young and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Ameriprise Financial Services, Inc. and/or United Planners’ Financial Services of America a Limited Partner concerning Jim Young’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $170 million on behalf of victimized investors. If you lost money on investments with Jim Young and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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