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Investor Names John Schlagcheck in Dispute Involving GWG L Bonds

Aug 15, 2022 Unsuitable Investments

John Schlagcheck (CRD #: 1040673), a broker registered with Intervest International Equities Corporation, allegedly committed several violations, according to his BrokerCheck record, accessed on July 31, 2022. Keep reading if you want to know more about John Schlagcheck’s conduct as a broker.

Investor Dispute

On June 1, 2022, an investor filed a dispute alleging that John Schlagcheck breached his contract, violated Michigan securities law, acted negligently, and engaged in unjust enrichment with regard to the sale of GWG L Bonds in March 2021. The client seeks $100,000 in this pending dispute.

FINRA Rule 2150

FINRA Rule 2150 bans the misappropriation and misuse of investors’ funds or securities.

What qualifies as broker negligence?

Broker negligence can take many different forms. Common examples of broker negligence include the misrepresentation or omission of relevant information, unsuitable investment recommendations, and excessive or unauthorized trading.

Investors who have lost money through broker negligence may be able to recover their funds by pursuing FINRA arbitration.

What are blue sky laws?

Blue sky laws are securities regulations passed at a state level, designed to give investors additional protection by enabling state regulators to more effectively detect and prevent fraud.

Tax Lien

In 2015, John Schlagchek was penalized with a $26,142 tax lien. There is one other tax lien on his record. 

Background Information

John Schlagcheck has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 22 – Direct Participation Programs Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination
  • Series 24 – General Securities Principal Examination

John Schlagcheck is a registered broker in Florida, Michigan, Ohio, and Tennessee.

He has also worked for the following firms:

  • Southeast Investments, N.C. (CRD#:43035)
  • Sammons Securities (CRD#:115368)
  • Bancwest Investment Services (CRD#:29357)
  • Granite Investment Services (CRD#:31299)
  • Guaranty Brokerage Services (CRD#:23302)
  • Washington Square Securities (CRD#:2882)
  • Primevest Financial Services (CRD#:15340)
  • IFG Network Securities (CRD#:19948)
  • Vestax Securities (CRD#:10332)
  • Locust Street Securities (CRD#:1703)
  • Multi-Financial Securities (CRD#:10299)
  • FSC Securities (CRD#:7461)
  • Linsco/Private Ledger (CRD#:6413)
  • North American Financial Group (CRD#:22273)
  • American Express Financial Advisors (CRD#:6363)
  • IDS Life Insurance Company (CRD#:6321)
  • IDS Financial Services (CRD#:6320)

Kurta Law Can Help

If you worked with John Schlagcheck and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.