The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Christopher Jorgensen. According to his publicly available FINRA BrokerCheck report, Christopher Jorgensen has been the subject of multiple customer disputes.

Christopher Jorgensen was a New York-based securities broker. He worked in the securities industry for twenty-eight years. During his career, he was registered with six different securities firms. He is no longer working as a registered broker in any fashion.

His Registrations

  • Faitos & Company (1989-1991)
  • W.J. Nolan & Company (1991-1994)
  • A.G. Edwards & Sons (1994-2000)
  • Citigroup Global Markets (2000-2008)
  • Raymond James (2008-2012)
  • Summit Brokerage Services (2012-2017)

The Allegations

  • In August 2003, a customer alleged that Christopher Jorgensen recommended unsuitable investments. This case was settled for $37,000 in damages.
  • In October 2011, a customer alleged that Christopher Jorgensen charged them excessive commissions. This case was settled for $25,430 in damages.
  • In January 2012, Christopher Jorgensen was discharged from his position at Raymond James following allegations of exercising discretion in a customer account without the proper authorization.
  • In April 2017, Christopher Jorgensen was discharged from his position at Summit Brokerage Services following allegations that he instructed a customer not to respond to a FINRA inquiry.
  • In May 2017, Christopher Jorgensen was barred by FINRA from acting as a securities broker in any fashion due to allegations that he failed to comply with a FINRA investigation.
  • In October 2017, a customer alleged that Christopher Jorgensen recommended unsuitable investments, excessively traded their account, and failed to follow instructions. This case was settled for $10,000 in damages.
  • In April 2018, a customer alleged that Christopher Jorgensen executed unauthorized trades, executed excessive trades, and over-concentrated their account. This case was settled for $70,000 in damages.

What Does This Mean?

Securities brokers are supposed to execute trades in their customers’ accounts at a suitable frequency. Investors are charged additional fees every time transactions are executed on their behalf. Investors not only receive no financial benefit when trades are executed excessively, but also rack up these additional fees that can drastically lower their principal investments beyond the point of seeing any desired returns. When securities brokers do this intentionally to garner more commissions for themselves, it is referred to as churning.

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 Christopher Jorgensen, please contact Oakes & Fosher for a free and private consultation. Oakes & Foser handles cases on a contingency basis, which means there are no fees charged unless we collect for you.