UPDATE! Investigation of JOHN C. HANSON and NORTHWESTERN MUTUAL INVESTMENT SERVICES
John C. Hanson (Spokane, Washington) and Northwestern Mutual Investment Services
Have you lost money with financial advisor John C. Hanson from Spokane, Washington? We are continuing our investigation allegations made against Hanson. The Washington Division of Securities brought a regulatory complaint against John Hanson, alleging that he made unauthorized withdrawals and loans from customers’ accounts, and that he sold $1.7 million worth of fictitious REITs (or Real Estate Investment Trusts) to his customers.
Hanson was also the subject of a complaint by FINRA, the Financial Industry Regulatory Authority. FINRA barred Hanson from the securities industry for failing to respond to an investigation. FINRA began investigating John Hanson because he was alleged to have stolen at least $300,000 from at least two customers of the brokerage firm that he worked for, Northwestern Mutual Investment Services.
John C. Hanson was a registered representative and financial advisor with Northwestern Mutual from 2004 to September 2014. Hanson operated out of a Spokane, Washington branch office. At least one customer has filed a claim regarding Hanson’s conduct. Hanson also previously filed for bankruptcy in both 2010 and 2012.
The Washington Division of Securities seeks to fine Hanson and revoke his securities license. However, in most instances, regulators like the Washington Division of Securities are not representing investors to recover their investment losses but instead are simply looking to punish the broker. Often, investors must hire their own attorney to try to recover their investment losses.
Broker-dealers like Northwestern Mutual have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives. Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When broker-dealers 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 Bellevue, Washington and Denver, Colorado. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Eastern Washington. Attorney David Neuman is licensed to practice law in the State of Washington. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James Financial Services, ProEquities, Securities America, National Securities Corp., and many others.
If you lost money with John C. Hanson or Northwestern Mutual, please Contact Us at 206-795-5798 or 720-599-3505 for a free evaluation of your case.
Click to view: Hanson WA Comp
Click to view: Hanson BrokerCheck 9.17.15