Steve Klinger, Formerly of Wells Fargo, Barred by FINRA Following Failure to Testify

Stephen Klinger allegedly deposited client funds into his own account to trade options, which resulted in a loss of all of the client’s funds.

The Sonn Law Group is investigating allegations that Stephen Klinger misused client funds. Under FINRA Rules, brokerage firms are liable for their brokers’ misconduct or negligence and investors may be able to their investment through FINRA arbitration. Contact Sonn Law Group today or call us at 866–827–3202 for a free consultation.

Stephen Klinger (CRD#:1294139) consented to being barred by FINRA by failing to appear for testimony in connection with a FINRA investigation of a former client’s allegation that Klinger had deposited the client’s funds into his own account to trade options, allegedly resulting in the loss of all the client’s funds.

Following the incident, the client sued Klinger and Wells Fargo in North Carolina state court. Service of process was only given to Klinger, who failed to report the lawsuit to Wells Fargo and attempted to settle without informing them. The suit was ultimately settled by Wells Fargo.

There is one additional disclosure on Klinger’s BrokerCheck report from March 2018. A client alleged that Klinger assured him of positive returns on his investment. The dispute was settled for $37,000.

Klinger was a registered broker for Wells Fargo from June 2002 through March 2019. He was previously registered with Wachovia Securities, Inc. in Charlotte, North Carolina from November 1994 through June 2002.

Jeffrey R. Sonn is an experienced investor losses attorney. If you suffered losses because a financial professional committed misconduct, Mr. Sonn will protect your rights and interests. Please do not hesitate to contact the Sonn Law Group today for a free review of your claim.