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WARNING! Forest Securities and Sales of Woodbridge Ponzi Scheme

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19
Jun

WARNING! Forest Securities and Sales of Woodbridge Ponzi Scheme

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WARNING!  Forest Securities and Sales of Woodbridge Ponzi Scheme

Christopher Wurtzinger, formerly CCO of Forest Securities, Suspended by FINRA for Failing to Supervise Sales of Woodbridge

Have you lost money investing in Woodbridge through former advisors of Forest Securities?  FINRA (the Financial Industry Regulatory Authority) recently suspended Christopher Wurtzinger for four weeks, alleging that Wurtzinger failed to adequately supervise representatives of Forest Securities who sold Woodbridge.  It was alleged that Wurtzinger was told by Jeffrey Nimmow that he would be selling Woodbridge, but Wurtzinger failed to adequately look into it. 

In 2019, the Wisconsin Department of Financial Institutions made allegations against Jeffrey Scott Nimmow.  Wisconsin alleged that Nimmow sold about $3.5 million in investments in the Woodbridge.  Unfortunately, Woodbridge has filed for bankruptcy, and investors may suffer considerable losses in these investments. As a result of this investigation, Nimmow was barred for 48 months from the securities industry.

Jeffrey Nimmow was a financial advisor and registered representative of Forest Securities from August 2015 to March 2018.  He worked at a branch office Merrimac, Wisconsin.  Nimmow was also terminated by Forest Securities for selling Woodbridge.

Brokerage firms like Forest Securities have a responsibility to adequately supervise all representatives who are registered through their firm.  Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers. 

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Ann Arbor, Michigan; and Seattle, Washington.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout Wisconsin.  Our attorneys have represented over one thousand investors against many brokerage firms in the past.

IF YOU LOST MONEY WITH JEFFREY NIMMOW, WOODBRIDGE OR FOREST SECURITIES, PLEASE CONTACT US AT 720-599-3505 FOR A FREE EVALUATION OF YOUR CASE.

Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.
10.0David P Neuman

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