Are You a Victim of the Financial Investment Scheme Schmidt Investment Strategies Group and Wells Fargo Advisors?
January 4, 2019 | Toby K. Henderson
We are currently investigating allegations made by the Financial Industry Regulatory Authority (FINRA) and the United States Securities and Exchange Commission against former Wells Fargo Advisors Registered Investment Adviser, Broker and Certified Financial Planner John Gregory Schmidt (CRD# 708094). If you are an investor who lost money investing with John G. Schmidt, call our experienced team of attorneys at 937-222-2500 for a free, initial consultation to discuss your investment loss recovery options. You may be able to recover losses through FINRA arbitration or securities litigation.
Mr. Schmidt was booked into the Montgomery County Jail on December 28, 2018 after he was indicted for several counts of forgery and fraud. Mr. Schmidt was employed by Wells Fargo Advisors Financial Network, LLC (IARD# 11025) from at least December 2006 through November 2017 and operated Schmidt Investment Strategies Group on Paragon Road in Washington Township. From at least 2003 through 2017, Mr. Schmidt is alleged to have defrauded his investing clients by perpetuating a classic fraudulent scheme. Without customer authorization, he repeatedly sold securities belonging to some of his brokerage customers and secretly transferred the sale proceeds to cover shortfalls in the accounts of other customers. Mr. Schmidt is also the defendant in a civil lawsuit filed by the Securities and Exchange Commission in federal court. On March 4, 2018, Mr. Schmidt was permanently barred from any association with any FINRA member in any capacity.
The team of SS+D litigation attorneys is experienced in recovering losses caused by unscrupulous investment advisors, financial planners, and broker-dealers. Call our Dayton, Ohio office today at 937-222-2500 to speak Toby K. Henderson or with one of our other experienced litigators.