steven-rodemer-fined-for-scamming

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-fined-for-scammingSteven 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.

Sonn Law Group is investigating claims regarding Joel Eziekel Blum (CRD #4905379, Goshen, New York). Blum recently submitted an AWC in which he was fined $10,000 and suspended from association with any FINRA member in any capacity for 20 days. See FINRA Case #2014040186601. Blum was associated with Merrill Lynch from May 2008 until his termination in February 2014. Blum has been associated with Ameriprise Financial Services, Inc., since February 2014. The Form U-5 filed by Merrill Lynch to terminate Blum's registration states that he was discharged for "conduct including failure to contact clients in advance of entering orders in non-discretionary accounts and mismarking order tickets as unsolicited." FINRA found that Blum executed discretionary transactions in customer accounts without written authorization to do so. In addition, Blum mismarked order tickets in connection with these transactions, inaccurately indicating that the trades were unsolicited, according to FINRA. In entering into the AWC, Blum neither admitted or denied FINRA's findings. Pursuant to FINRA Rules, member firms are responsible for supervising a broker's activities during the time the broker is registered with the firm. Therefore, Ameriprise or Merrill Lynch may be liable for investment or other losses suffered by Blum's customers. If you were a client of Ameriprise, Merrill Lynch, or Blum, and have suffered investment losses or financial irregularities, please contact Sonn Law Group to explore your legal options. Sonn Law Group is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies. To learn more, please call us at 844-689-5754 or complete our "contact form."
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