John Douglas Wade – John Wade, Financial Advisor Barred from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses
John Douglas Wade was a previously licensed financial advisor with U.S. Bancorp Investments, Inc. FINRA reports that John Douglas Wade was barred from the securities and investment banking industry in June 2018.
ACCORDING TO FINRA: John Douglas Wade consented to the sanction and to the entry of findings that he converted funds totaling $105,712.18 from his member firm’s elderly customers without authorization to pay his own mortgage. The findings stated that John Douglas Wade electronically transferred without authorization $47,570.47 from one of the elderly customers’ checking account (at a bank affiliated with the firm) to John Douglas Wade’s own mortgage account. According to FINRA, John Douglas Wade similarly used funds from another elderly customer to pay his own mortgage. Wade had this customer withdraw funds from his firm account via third-party checks – in amounts totaling $51,141.71 – and write a check in the amount of $7,000 from his checking account (at a bank affiliated with the firm), ostensibly to invest in REITs. According to FINRA, John Douglas Wade did not use those funds for their intended purpose, to invest in real estate investment trusts (REITs) for the customer. Rather, John Douglas Wade used those checks to pay his own mortgage.
If you lost any money on investments with John Douglas Wade, you may be able to recover your losses. If you lost money on investments with John Douglas Wade 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 concerning John Douglas Wades’ 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 $180 million on behalf of victimized investors. If you lost money on investments with John Douglas Wade 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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