The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Chris Kubiak. According to his publicly available FINRA BrokerCheck report, Chris Kubiak has been the subject of a FINRA sanction.

Chris Kubiak was a Wisconsin based securities broker. He worked in the securities industry for thirty-two years. During his career, he was registered with four different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Dreher & Associates (1986-1989)
  • Freedom Investors Corp. (1989-2017)
  • American Global Wealth Management (2017)
  • Calton & Associates (2017-2018)

The Allegations

Chris Kubiak was officially sanctioned by FINRA in October 2018. The findings in this matter state that he converted the funds of multiple customers for his own personal use. Four customers, three of which were seniors, allegedly gave a total of $270,000 to Kubiak to invest on their behalf. Instead of investing the funds, Kubiak allegedly deposited the funds into his own personal bank account. The funds were then allegedly used to gamble and pay for personal medical bills. Due to these alleged actions, Chris Kubiak was terminated from his position at Calton & Associates and barred by both FINRA and the United States Securities and Exchange Commission from acting as a securities broker in any fashion. Chris Kubiak pled guilty to committing a fraudulent scheme and to one count of wire fraud in May 2019.

What Does This Mean?

Converting a customer’s funds is the most blatant and fraudulent acts a securities broker could ever commit against an investor. Brokers like Chris Kubiak prey on investors that they believe rely more heavily on their securities brokers to manage their account. More often than not, these would be more elderly investors who lack any real investment knowledge or experience. These fraudulent conversion schemes range in complexity. They can be anywhere from brokers funneling funds through fictitious business entities, while providing afflicted customers with falsified account statements, to simply depositing investor funds into their own personal bank account. These types of brokers believe that they can disguise their misdeeds as standard market losses. They believe that their victims won’t ever notice what has actually happened to them. It is this arrogance that causes them to perpetrate their horrific schemes.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Chris Kubiak, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.