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Scott Wolfrum Facing Six-Figure Investor Dispute

Aug 9, 2021 AWC

Scott Wolfrum (CRD #: 2187550), an investment adviser registered with Wolfrum & Co., is facing a new investor dispute, according to his BrokerCheck record, accessed on August 4, 2021. Wolfrum was also formerly registered as a broker, most recently with Huntleigh Securities Corporation.

On July 7, 2021, an investor alleged that Scott Wolfrum recommended unsuitable investments. The investor is seeking $250,000; the dispute is pending.

On March 24, 2021, the SEC issued a cease-and-desist order in which the regulator alleged Scott Wolfrum failed to disclose conflicts of interest when he recommended that his advisory clients invest in the Foundry Mezzanine Opportunity Fund (FMOF) – a private fund that invests in small businesses. He allegedly failed to disclose his and his family’s financial interests in FMOF and the $140,125 he earned in finder’s fees. Wolfrum allegedly sold more than $20 million in interests of FMOF.

The SEC fined Wolfrum $75,00 and ordered him to pay back the $140,125 he earned in fees. Wolfrum also received another monetary penalty of $21,354.

On March 18, 2019, an investor alleged that the purchase of a private placement was made with the investor’s approval. The investor sought $500,000; the dispute settled for $449,300.

Scott Wolfrum Background Information

Wolfrum has passed the following exams:

  • Series 63 Uniform Securities Agent State Law Examination
  • Securities Industry Essentials Examination
  • Series 31 Futures Managed Funds Examination
  • Series 7 General Securities Representative Examination
  • Series 10 General Securities Sales Supervisor – General Module Examination
  • Series 9 General Securities Sales Supervisor – Options Module Examination

He is a registered investment adviser in Indiana.

Wolfrum has worked with the following firms:

  • Huntleigh Securities Corporation (CRD #: 7456)
  • Noyes Advisors (CRD #: 226606)
  • David A Noyes & Company (CRD #: 205)
  • Wells Fargo Advisors Financial Network (CRD #: 11025)
  • Wells Fargo Advisors (CRD #: 19616)
  • G. Edwards & Sons (CRD #: 4)
  • Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691)

Kurta Law Can Help

If you worked with Scott Wolfrum and you have concerns about your investments, contact Kurta Law today. Call 212-658-1502 or email jkurta@kurtalawfirm.com.