John F. Wolle Accused of Forgery Related to Charitable Gift Annuities Offered by 54F

Cleveland stockbroker fraud attorneyJohn F. Wolle, formerly associated with Sinclair & Company, LLC, is barred from the securities industry by the Financial Industry Regulatory Authority (“FINRA”) in connection with allegations that he forged a person’s name and failed to disclose to his firm that was engaged in outside business activities, according to a default decision issued by FINRA’s Office of Hearing Officers.

Wolle served as treasurer of an entity known as 54F, according to FINRA. When a customer purchased a charitable gift annuity with 54F, 54F purportedly claimed to use a portion of the customer’s funds to purchase one or more fixed or indexed annuities and to make charitable donations on the customer’s behalf with the rest of the customer’s funds, according to FINRA.

While associated with 54F, Wolle forged the name of an individual, a 71-year-old person he had never met or spoken to, on three indexed annuity applications totaling $254,998, according to FINRA.

Additionally, Wolle failed to disclose to Sinclair that he was an insurance agent licensed to sell indexed annuities in various states and the he was appointed as an independent insurance agent with Lincoln Financial Group, the insurer that underwrote the policies he purchased on behalf of the individual whose name he allegedly forged, according to FINRA.

The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. 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 investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

phil korosec (1252 Posts)

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.