James Paul Kolf—Material Misrepresentations and Omissions

Cleveland stockbroker fraud lawyerJames Paul Kolf Allegedly Made Material Misrepresentations and Omissions in the Sale of at Least $588,000 in So-called SFN Financial Network Securities to Twelve Customers; Kolf Allegedly Sold Non-Existing Securities

James Paul Kolf, who first started in the brokerage business with New England Securities in 2009, allegedly made material misrepresentations and omissions in the sale of at Least $588,000 in so-called SFN Financial Network Securities to twelve customers, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorneys Alan Rosca and James Booker.

The securities which Kolf, who first started in the brokerage business with New England Securities in 2009, allegedly converted were not authentic, however, and he allegedly used said funds pay his business and personal expenses, the AWC further notes.

Kolf allegedly informed clients that the terms of the investments included paid interest at the rate of 6%, the AWC reports. Kols, it appears, allegedly never invested his customers’ funds in SFN Financial Network as the securities allegedly never existed, the AWC reports.

The Peiffer Rosca Wolf securities lawyers are currently investigating James Paul Kolf’s alleged material misrepresentations and omissions.

James Paul Kolf Allegedly Created and Distributed False Account Statements to Customers Reflecting Purported Fake Investments; Kolf Barred by FINRA

James Paul Kolf also allegedly created and sent out falsified account statements to customers that showed their interests in the purported fake investments, according to the aforementioned AWC currently under review by attorneys Alan Rosca and James Booker.

FINRA Rules provide that no person associated with a member shall make improper use of a customer’s securities or funds and conversion of customer funds is a violation of FINRA Rules. Therefore, based on the aforementioned behavior, Kolf allegedly violated FINRA Rules, and hence, has been barred by FINRA.

One should also note that, according to the AWC, James Paul Kolf neither admitted nor denied the FINRA findings.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged securities fraud scams and are currently investigating James Paul Kolf’s alleged material misrepresentations and omissions. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of James Paul Kolf’s alleged material misrepresentations and omissions may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1169 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.