Scott Niekamp – Broker/Financial Advisor Scott Niekamp Suspended from Securities Industry | Goodman & Nekvasil, P.A. May Recover Investor Losses
Scott Niekamp a/k/a Scott S Niekamp is a licensed financial advisor licensed financial advisor/broker with Northwestern Mutual Investment Services. Niekamp is also the owner of Niekamp Group LLC. According to FINRA, Scott Niekamp will be suspended from the securities industry for 3 months in July 2021.
According to FINRA Allegations:
Niekamp consented to the sanctions and to the entry of findings that he engaged in two outside business activities (OBA) without providing prior written notice to his member firm. The findings stated that the firm approved Niekamp’s request to participate in an OBA with a company as a passive investor and his activities would be limited to reviewing corporate documents, attending quarterly board meetings, and filing tax returns. Niekamp later updated his OBA disclosures to reflect he was no longer involved with the company. However, Niekamp engaged in other OBA on behalf of the company. Niekamp also received a 2% ownership interest in an LLC which partnered with the company on several potential projects. Niekamp did not disclose the additional OBA he conducted through the company or his membership interest and activities on behalf of the LLC. Niekamp also made false statements regarding his OBS on six compliance questionnaires. The findings also stated that Niekamp made two loans totaling $450,000 to a firm customer without notifying or obtaining prior approval from the firm. Niekamp’s firm customer and friend approached him about a possible loan to assist the customer in obtaining bank financing and covering payroll taxes for his business. Niekamp and his wife loaned the customer $250,000 via a check drawn on their joint account. Later Niekamp and his wife loaned the customer another $200,000. Niekamp also falsely stated on a compliance questionnaire that he had not loaned money to a firm customer.
Goodman & Nekvasil P.A. May Recover Investor Losses
If you lost money on investments with Scott Niekamp 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 Scott Niekamp’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 Scott Niekamp 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.