Oberweis Securities Advisor Accused of “BORROWING” Client Money
Ralph Von Lutzow, formerly with Oberweis Securities, Barred from Securities Industry
Have you lost money with financial advisor Ralph Von Lutzow of Sarasota, Florida? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Ralph Richard Von Lutzow. FINRA barred Ralph Von Lutzow from the securities industry regarding allegations that he borrowed $32,000 from an elderly customer without notifying his former brokerage firm, Oberweis Securities; that he facilitated investments in Reven Pharmaceuticals without disclosing such to Oberweis; and that he made misrepresentations to FINRA in connection with its investigation.
Ralph Von Lutzow was a financial advisor and registered representative of Oberweis Securities from May 2003 to December 2016. He worked at a branch office in Sarasota, Florida. Von Lutzow also has been the subject of two customer complaints.
Brokerage firms like Oberweis 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; and Seattle, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout Florida. Attorney David Neuman is licensed to practice law in Florida. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Von Lutzow, Ralph FINRA AWC
Click to view: Von Lutzow, Ralph BrokerCheck 12.4.18
If you lost money with Ralph Von Lutzow or Oberweis Securities, please CONTACT US at 720-599-3505 for a free evaluation of your case.