Michael Hefner, formerly with FBL Marketing Services, Barred from Securities Industry
Have you lost money with financial advisor Michael Hefner of Tulsa, Oklahoma? We are investigating allegations made by the Oklahoma Department of Securities against Michael Winston Hefner. Oklahoma barred Hefner from the securities industry after he failed to respond to an investigation. Hefner was being investigated after he pleaded guilty to three counts of embezzlement in September 2017. Hefner was alleged to have embezzled funds from customers of Oklahoma Farm Bureau Mutual Insurance Company.
Michael Hefner was a financial advisor and registered representative of FBL Marketing Services (an affiliate of Oklahoma Farm Bureau Mutual Insurance Company) from 2003 to May 2015. He worked at a branch office in Tulsa, Oklahoma. Hefner was also previously barred by FINRA, the Financial Industry Regulatory Authority, regarding the same conduct.
Brokerage firms like FBL Marketing Services have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout Oklahoma, including several investors from Bartlesville who lost money in the Larry Dearman scheme. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Hefner, Michael Oklahoma Order
Click to view: Hefner, Michael BrokerCheck 4.9.18
If you lost money with Michael Hefner or FBL Marketing Services, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.