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Shane Wilhelm Involved in Misrepresentation Dispute

Shane Wilhelm (CRD #: 4803933), a broker registered with Fortune Financial Services, is alleged to have misrepresented investments, according to his BrokerCheck record, accessed on April 8, 2020. Keep reading if you have questions about Shane Wilhelm’s conduct as a broker.

Allegations of Misrepresenting Investments’ Value

Shane Wilhelm has faced several allegations of inflating the value of clients’ investments.

  • On February 2, 2022, a client alleged Shane Wilhelm represented their assets as being significantly larger than the true value in their account. The investor seeks $80,000 in this pending dispute.
  • On May 15, 2020, an attorney representing beneficiaries of a deceased client alleged Shane Wilhelm inflated the value of the elderly client’s estate and the beneficiaries’ potential inheritance. Claimants sought $340,092 in damages, but the dispute was denied. Investors should know that they can still pursue FINRA arbitration and recover their losses following a denial. 

FINRA Rule 2020

FINRA Rule 2020 prohibits brokerage firms and stockbrokers from making material misrepresentations or inducing people into buying investments with false or misleading statements about their potential benefits. 

Losses that can be attributed to a stockbroker’s material misrepresentations of facts may result in a viable securities arbitration claim for damages.

Background Information

Shane Wilhelm has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

Shane Wilhelm is a registered broker in North Carolina and is both a registered broker and investment advisor in Virginia.

Prior to Fortune Financial Services, he worked for the following firms:

  • Truist Advisory Services (CRD#:283390)
  • Truist Investment Services (CRD#:17499)
  • Suntrust Investment Services (CRD#:17499)
  • BB&T Securities (CRD#:142785)
  • Scott & Stringfellow (CRD#:6255)
  • Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)
  • MetLife Securities (CRD#:14251)
  • Wachovia Securities (CRD#:19616)
  • Signator Investors (CRD#:468)

Kurta Law Can Help

If you worked with Shane Wilhelm and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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. 

 

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