Richard Christensen Fined and Suspended After Allegedly Participating in Private Securities Transactions
Richard Andrew Christensen, Jr., formerly associated with Edward D. Jones & Co., L.P., was fined and suspended by the Financial Industry Regulatory Authority (“FINRA”) in connection with allegations that Christensen participated in private securities transactions without providing prior written notice or obtaining approval of his participation in such transactions from Edward Jones.
The Peiffer Rosca securities practice attorneys Alan Rosca and Joe Peiffer are investigating the matter.
Christensen, from September 2003 through February 2011, participated in seven private securities transactions without informing Edward Jones or receiving permission from Edward Jones to participate in such transactions, according to FINRA.
Christensen served as a co-managing member of GIFI, LLC, a company formed in 2002 and owned by Christensen’s wife and the wife of a friend, according to FINRA. Christensen used GIFI as a type of “holding company” for which, in his capacity as co-manager, Christensen made several private investments, according to FINRA.
Christensen participated in seven separate private securities transactions through GIFI by, among other things, contributing half of the funds used to make the purchases and the issuance of the checks to make the purchases, according to FINRA. These transactions involved securities such as interests in an entity that owned shares of a publicly traded company, convertible promissory notes, and common stock, according to FINRA.
Christensen consented to a $10,000 fine and a one month suspension from the securities industry levied by FINRA without denying or admitting FINRA’s findings.
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.