Timothy Rodgers—Two Unapproved Private Securities Transactions
Timothy Rodgers Allegedly Participated in Two Unapproved Private Securities
Timothy Rodgers, between May 2010 and August 2012, allegedly participated in two private securities transactions that were not disclosed to or approved by Wells Fargo Advisors (WFA), according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC).
Timothy Rodgers, a former rep with WFA, also allegedly completed two annual Firm compliance questionnaires in which he purportedly falsely represented that he had disclosed all his private securities investments to WFA, the AWC reports.
One should also note that, according to the AWC, Timothy Rodgers neither admitted nor denied the FINRA findings
Timothy Rodgers Suspended and Fined $10K by FINRA
Timothy Rodgers, during the summer of 2012, allegedly agreed to form K2, LLC (K2) with three individuals, two of whom were purportedly Rodgers’ WFA customers, according to the AWC. In addition, on August 10, 2012, K2 was allegedly formed with the intention of pooling the investors’ funds together to make a single investment of $200,000 through K2 in HS, Inc. (HS), a security, the AWC notes.
What is more, on August 14, 2012, prior to WFA approving Rodgers‘ request to invest in HS individually, K2 allegedly purchased a convertible note in the amount of $200,000 from HS, $50,000 of which purportedly represented Rodgers’ investment, the AWC notes.
Timothy Rodgers, based on the aforementioned behavior, allegedly violated FINRA Rules and has been suspended and fined $10k by FINRA for engaging in two unapproved private securities transactions and for making false statements to WFA on two annual compliance questionnaires, the AWC notes.
The Peiffer Wolf Carr & Kane Securities Lawyers Often Assist Investors
The Peiffer Wolf Carr & Kane securities lawyers assist investors who lose money as a result of unapproved private securities transactions. 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 unapproved private securities transactions are encouraged to contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at (585) 310-5140.