David James Oldenburg, formerly with Horter Investment Management, Suspended by Wisconsin for Selling Woodbridge
Fond Du Lac, WI
Have you lost money with investment advisor David James Oldenburg of Fond Du Lac, Wisconsin? We are looking into allegations made by the Wisconsin Department of Financial Institutions against David James Oldenburg. Wisconsin alleged that Oldenburg sold $240,000 in investments in the Woodbridge Group of Companies (Woodbridge) to an investor in Appleton, Wisconsin. Unfortunately, Woodbridge has filed for bankruptcy, and investors may suffer considerable losses in these investments. As a result of this investigation, Oldenburg was suspended for 60 days from the securities industry, fined $5,000, and ordered to disgorge $4,800.
David James Oldenburg was an investment adviser representative of Horter Investment Management from October 2013 to March 2019. He worked at a branch office Fond Du Lac, Wisconsin. Oldenburg is now with Sequent Planning and Oldenburg Financial and Insurance.
Advisory firms like Horter Investment Management have a responsibility to adequately supervise all representatives who are registered through their firm. Advisory firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When firms fail to adequately supervise their 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 Ann Arbor, Michigan; Denver, Colorado; 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.