INDIANAPOLIS, INDIANA
Have you lost money with financial advisor Scott Wolfrum of Indianapolis, Indiana? We are looking into allegations made against Scott T. Wolfrum. The Securities and Exchange Commission filed a complaint against Wolfrum, alleging that he failed to disclose conflicts of interest in connection with selling investments in Foundry Mezzanine Opportunity Fund. Wolfrum sold $20 million of investments in the Foundry Mezzanine Opportunity Fund without disclosing his financial interests in certain of the Fund’s investments. To settle these allegations, Wolfrum agreed to pay disgorgement of $140,125, plus $21,354 in interest, and a $75,000 fine.
Scott Wolfrum was a representative of David A. Noyes & Co. from May 2013 to January 2018. He also owned and operated Wolfrum Capital Management. He worked at a branch office in Indianapolis, Indiana. Wolfrum has been the subject of three customer complaints.
Brokerage firms like David A. Noyes & Company 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 Ann Arbor, Michigan; Phoenix, Arizona; Denver, Colorado; and Seattle, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Indiana and in the Indianapolis area. Our attorneys have represented over one thousand investors against many firms in the past, including against David A. Noyes & Company.