Steven Rodemer, Formerly of Stifel, Nicolaus & Company, Fined by SEC Following Allegations of Scamming an Elderly Client

Rodemer agreed to pay a $385K fine for using a client’s account for his personal expenses.

The Sonn Law Group is investigating allegations that Steven Rodemer scammed an elderly client. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Steven Rodemer (CRD#: 830561) was barred by FINRA in March 2020 after refusing to provide on-the-record testimony requested by FINRA during its investigation into conduct disclosed in a Form U5 submitted by Stifel, Nicolaus & Company. Rodemer has now agreed to pay $385,536 to the SEC to settle the claim that he scammed an elderly client. 

Rodemer has two other disclosures  on his BrokerCheck report.

January 2020 Employment Separation After Allegations

• Firm Name: Stifel, Nicolaus & Company, Incorporated
• Termination Type: Discharged
• Allegations: FA took money from a client account for his personal use without authorization.

October 1984 Customer Dispute

• Status: Settled
• Allegations: Alleged breach of fiduciary duty, damages alleged were $50,000. Shearson Lehman Hutton paid settlement of $17,000 in entirety in recognition of the extraordinary number of attorneys assigned on and removed from complaint (8) and inordinate amount of time to resolve of 5 years. No settlement was warranted according to SLH’s local attorney but Hutton’s financial problems and policies didn’t allow such action
• Damage Amount Requested: $50,000.00
• Settlement Amount: $17,000.00
• Broker Check: Settled for $17,000 numerous attorney reassignments by corporate office, lack of priority issue with corporate office. Client was a sophisticated individual as demonstrated by cash withdrawals and deposits from vending machine company he owned.

Contact Us Today

The Sonn Law Group is currently investigating allegations that Steven Rodemer scammed a client. 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.