John Quinn – Financial Advisor/Broker Suspended from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses
John Quinn a/k/a John Daniel Quinn CRD # 2576416
John Quinn a/k/a John Daniel Quinn was a licensed financial advisor with Valic Financial Advisors, Inc. and LPL Financial LLC.
John Quinn was discharged from Valic Financial Advisors, Inc. in January, 2021.
According to FINRA:
Without admitting or denying the findings, Quinn consented to the sanctions and to the entry of findings that he participated in private securities transactions without his member firm’s knowledge or approval. The findings stated that Quinn solicited investors to purchase a total of $1,247,500 in restricted shares of common stock in an industrial hemp company. Quinn received 2,540,000 restricted shares of common stock in the hemp company in exchange for referring the investors to the company.
In addition, Quinn falsely certified on an annual compliance questionnaire that he had not participated in any private securities transactions. The findings also stated that Quinn engaged in an outside business activity (OBA) without approval from his member firms. Quinn disclosed an entity he wholly owned to the firm as an OBA and represented to the firm that the purpose of the OBA was to hold real estate, and that it was not held out to the public or marketed. The firm approved the entity as an OBA. Later, Quinn requested approval to provide consulting services to the hemp company, an activity that was beyond the scope of the firm’s prior approval of his OBA. The firm denied the request because the hemp company was in the cannabis business.
Nevertheless, Quinn provided various consulting services to the hemp company through his OBA. Quinn never informed the firm that he provided these services, notwithstanding the firm’s denial of his request to do so. Quinn also failed to amend his outside business disclosure to accurately describe the services he was rendering to the hemp company through his OBA. When Quinn became associated with another firm, he disclosed the entity as an OBA that bought, renovated, and sold property. Quinn’s description was inaccurate because Quinn was providing consulting services to the hemp company and was not involved in any real estate business. Quinn continued to provide consulting services to the hemp company while associated with the firm, without disclosure to, or approval from the firm. In total, Quinn received $105,000 in fees from the hemp company for his undisclosed and unapproved consulting activities. In addition, Quinn falsely certified on both firms’ annual compliance questionnaires that he had not engaged in any undisclosed OBAs.
Goodman & Nekvasil, P.A. May Recover Investor Losses:
If you lost money on investments with John Quinn 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 Quinn’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 $200 million on behalf of victimized investors. If you lost money on investments with John Quinn 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 12/22/2021 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.