Scott Wolfrum – Customer Dispute Filed Involving Financial Advisor/Broker | Goodman & Nekvasil P.A. May Recover Investor Losses
Scott Wolfrum a/k/a Scott Thomas Wolfrum CRD #2187550
Scott Wolfrum a/k/a Scott Thomas Wolfrum is a previously licensed financial advisor with Huntleigh Securities Corporation and David A. Noyes & Company. According to Scott Wolfrum’s BrokerCheck Report, Scott Wolfrum was ordered to cease and desist by the SEC and a customer dispute has been filed involving Scott Wolfrum.
Customer Dispute 7/7/21: Allegations include improper investment recommendation for products purchased in 2016. This customer dispute is pending and seeks $250,000 in damages.
Scott T. Wolfrum, 53 years old, is a resident of Indianapolis, Indiana. Scott Wolfrum is a previously licensed financial advisor with Huntleigh Securities and David A. Noyes Company. During the Relevant Period, In February 2018, Wolfrum became a 50% owner of Foundry Capital Group (“FCG”), the general partner of the Fund, and in July 2018, Respondent became the 100% owner of FCG.
These proceedings arise out of investment adviser Scott Wolfrum’s failure to disclose conflicts of interest when recommending that his advisory clients invest in Foundry Mezzanine Opportunity Fund (“FMOF” or the “Fund”), a private fund that provides lending to and invests in small businesses. From December 2015 to June 2018 (“Relevant Period”), Wolfrum sold more than $20 million in interests in FMOF, almost all of which were recommended by Wolfrum and sold to his advisory clients. Wolfrum failed to disclose to his clients the conflicts of interest created by his and his family members’ financial interests in two of the Fund’s holdings and Wolfrum’s receipt of $140,125 in finder’s fees for facilitating two different investments by the Fund.
Goodman & Nekvasil, P.A. May Recover Investor Losses
If you lost any money on investments with Scott Wolfrum, you may be able to recover your losses. If you lost money on investments with Scott Wolfrum 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 concerning Scott Wolfrum’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.
Goodman & Nekvasil, P.A. has recovered more than $200 million on behalf of victimized investors. If you lost money on investments with Scott Wolfrum 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 9/9/21 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.