Kevin Bonner, formerly of Lincoln Financial Securities Corp., Suspended for 6 Months by FINRA
Have you lost money with financial advisor Kevin Bonner from Seattle and Burien, Washington? We are continuing our investigation allegations made against Bonner. FINRA suspended Kevin Bonner from the securities industry for six months and fined him $2,500 regarding allegations that he borrowed money from a customer. Bonner had also previously been the subject of an investigation in the State of Washington.
In April 2017, the Washington Division of Securities brought a regulatory complaint against Kevin Ray Bonner, alleging that he borrowed $50,000 from a client, in violation of securities rules, as well as the internal policies of his brokerage firm, Lincoln Financial Securities Corp.
Washington alleged Bonner borrowed $50,000 from a client in 2006, which was supposed to be paid back within 30 days. It was further alleged that Bonner struggled to pay the note and only paid back about $17,000 of the original $50,000. Bonner then filed for bankruptcy in 2014 and wiped this debt clean. Washington seeks to punish Bonner for this conduct.
Kevin Bonner was a registered representative and financial advisor with Lincoln Financial Securities Corp. from 1990 to May 2016. Bonner operated a branch office in Burien, Washington. He operates a firm called Bonner Financial Services in Burien. Bonner was discharged by Lincoln Financial Services Corp. for this conduct. Bonner also previously filed for bankruptcy in 1996.
Broker-dealers like Lincoln Financial Securities Corp. have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives. Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When broker-dealers 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 Colorado, Washington, the Portland, Oregon Area and Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in the Seattle area, including in Seattle, Burien, Federal Way, Tacoma, Kent, and Auburn. Attorney David Neuman is licensed to practice law in the State of Washington. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
If you lost money with Kevin Bonner or Ameriprise, please CONTACT US at 206-795-5798 or 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.