John Krohn – Financial Advisor/Broker John Krohn Previously Suspended from the Securities Industry | Goodman & Nekvasil, P.A. May Recover Investor Losses
John Krohn a/k/a John Michael Krohn is a previously licensed financial advisor/broker with Principal Securities, Inc. FINRA reports that John Krohn was fined $10,000 and suspended from the securities industry for 3 months in June 2018.
According to FINRA:
Krohn consented to the sanctions and to the entry of findings that he engaged in outside business activities and made personal purchases totaling $7.9 million of private securities away from his member firm without notifying it about those activities or purchases. The findings stated that Krohn’s failure to give his firm prior written notice of the outside business activities prevented the firm from considering issues such as whether his outside business activities would interfere with his responsibilities to the firm or its customers, and whether customers or the public would incorrectly view the activities as part of the firm’s business. The findings also stated that Krohn’s private securities transactions were outside the scope of his employment with the firm and he did not notify his firm about his role in them nor whether he had received or expected to receive selling compensation. Krohn made some of those purchases through the investing company that he owned jointly with a customer.
According to John Krohn’s BrokerCheck Report Three Customer Disputes Have Been Filed Involving John Krohn:
Customer Dispute 4/6/20: The claimants allege the firm failed to supervise Krohn’s private securities transactions and dealings with claimants, is liable for John Krohn’s misconduct and claimant’s losses. This customer dispute is pending and seeks $10,000,000 in damages.
Customer Dispute 2/25/20: The claimants allege the firm failed to supervise Krohn’s private securities transactions; his selling away activities; and his outside business activities that resulted in damages to them. This customer dispute is pending and seeks $1,200,000 in damages.
Customer Dispute 2/25/19: The claimants assert that John Krohn solicited large investments from them in venture capital companies owned, managed, or controlled at least part by John Krohn. This customer dispute is pending and seeks $28,000,000 in damages.
Goodman & Nekvasil P.A. May Recover Investor Losses
If you lost money on investments with Krohn 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 Krohn’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 $180 million on behalf of victimized investors. If you lost money on investments with Krohn 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.
Some of the information in this blog post was obtained on 7/15/2020 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.