Goodman & Nekvasil P.A., May Recover Your Investment Losses – John Joseph Kostic Jr. (John Kostic) Formerly Licensed with Finance 500, Inc., Suspended from Securities Industry
John Kostic was licensed with Finance 500, Inc. from 2013 to 2015. John Kostic was previously licensed with Richfield Orion International, Inc. John Kostic was disgorged $37,000, fined $10,000, and suspended for 7 months from the securities and investment banking industry by the Financial Industry Regulatory Authority (FINRA). FINRA reports that John Kostic consented to the sanctions and to the entry of findings that John Kostic participated in private securities transactions totaling $492,000 without prior written notice to, or obtaining written permission from John Kostic’s member firms to participate in the transactions. The findings stated that John Kostic invested $22,000 in a company and introduced nine investors, four of whom were also firm customers, to the company. FINRA reports that with John Kostic’s assistance, these investors invested $470,000 in the company and Kostic received $42,000 from it for John Kostic’s participation in these transactions.
FINRA reports that three complaints and/or lawsuits were filed involving John Kostic’s conduct with Finance 500, Inc., Richfield Orion International Inc., and/or prior employers, alleging violation of state and federal securities laws, violations of FINRA/SEC rules regarding fair practice, breach of fiduciary duty, unsuitable recommendations, misconduct, churning, and/or negligence. These complaints and/or lawsuits all settled, with the largest settling for $135,000. John Kostic paid the entirety of this settlement.
FINRA also reports that John Kostic has an outstanding tax lien held against him by the State of California in the amount of $180,312.80.
If you lost any money on investments with John Kostic, you may be able to recover your losses from Finance 500, Inc. and/or Richfield Orion International, Inc. This is because Finance 500, Inc. and Richfield Orion International, Inc. had a duty to supervise John Kostic.
If you lost money on investments with John Kostic and believe that 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 Finance 500, Inc. and/or Richfield Orion International, Inc. concerning John Kostic’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 $300 million on behalf of victimized investors. If you lost money on other investments with John Kostic 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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