Jon Peter Lindberg, Formerly of ProEquities, Inc., Named in Two Pending Regulatory Disputes

Lindberg is accused of breach of fiduciary duty and fraud, among other forms of misconduct.

Jon Peter Lindberg (CRD#:1085475) was registered as a broker with ProEquities, Inc. from1989 until 2019. Previously, Lindberg was registered as a broker with TransAmerican Securities Sales Corporation from 1987 until 1989.

Lindberg has three disclosures on his BrokerCheck report. 

May 2020 Regulatory Judgment

Status: Pending

Initiated By: Montana

Allegations: Fraud, Unsuitable recommendations, Breach of Fiduciary Duty

April 2019 Regulatory Judgment

Initiated By: Alabama Securities Commission

Allegations: 1. Failed to inform his broker dealer of 2 customer complaints 2. failed to adequately disclose risks of options program to clients. 3. Failed to update his form adv to reflect disciplinary events. 4. Failed to uphold his duty as a fiduciary to his clients. 5. Failed to follow his own policies and proceedures.

July 2019 Employment Separation After Allegations

Firm Name: ProEquities, Inc.

Termination Type: Discharged

Allegations: Failure to disclose complaints and settlement related to independent RIA.

Broker Comment: Customer complaints are listed on the form U4.

May 2018 Customer Dispute

Status: Settled

Allegations: Client complaint alleges mishandling and aggressive action on the part of an employee of the Firm nearly depleted his account.

Damage Amount Requested:  $75,000.00

Settlement Amount: $92,607.11

Broker Comment: This is one of two isolated complaints (both amicably settled) that arose when, in August of 2017, an employee of the Firm began trading outside of the clients’ agreed upon trading parameters. The Firm immediately terminated the employee. The Firm was proactive in obtaining an equitable resolution for the client, covered by the Firm’s insurance carrier. No other clients were affected.

May 2018 Customer Dispute

Status: Settled

Allegations: Client complaint alleged account losses due to incompetent employee of the Firm

Damage Amount Requested:  $80,000.00

Settlement Amount: $64,000.00

Broker Comment: This is one of two isolated complaints (both amicably settled) that arose when, in August of 2017, an employee of the Firm began trading outside of the clients’ agreed upon trading parameters. The Firm immediately terminated the employee. The Firm was proactive in obtaining an equitable resolution for the client, covered by the Firm’s insurance carrier. No other clients were affected. The client remains a client of the Firm.

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Jon Peter Lindberg. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.