Allegations Regarding Paul Beers

The U.S. Attorney’s Office for the District of New Jersey has stated that Paul Beers recently admitted to running a Ponzi Scheme which defrauded investors out of $9.7 million over a ten-year period.  In particular, Mr. Beers is accused of running the fraudulent scheme between 2015 and 2025.  He operated a company called KJM Financial to run the scheme. 

It was alleged that Paul Beers misappropriated investor funds to use for his own lifestyle instead of investing it as represented.  His sentencing hearing is set for March 9, 2027.

Background on Paul Beers

Paul Beers had been licensed with Lifemark Securities from October 2018 to December 2020.  He also ran KJM Financial, which was purported to be involved in college planning activities.

Can Lifemark Securities Be Responsible for Investment Losses?

Under FINRA Rule 3110, broker-dealers like Lifemark Securities must reasonably supervise the activity of its advisors.  Lifemark Securities could be responsible for investor losses if it failed to reasonably supervise them.

Israels & Neuman Helps Victims Recover Their Investment Losses in New Jersey

We represent investors throughout the United States, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  If you invested in KJM Financial through Paul Beers and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Beers’s BrokerCheck Report
• View Beers’s Criminal Press Release

Contact Israels & Neuman for a Free and Confidential Consultation

Call us today at (720) 599-3505 or (206) 795-5798

or fill out our contact form online to learn more about your rights. We have experience representing New Jersey investors and are ready to help you recover the money you deserve.