Investors Allege Wendell Trapp Made Unauthorized Transfers

Wendell Trapp (CRD #: 6177720) has been fired by Edward Jones. This is according to his BrokerCheck record, accessed on November 22, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Disputes

On September 30, 2024, an investor alleged that Wendell Trapp made unauthorized purchases and transferred funds from their account to unknown third parties, instead of investing these funds in a municipal bond. The client seeks $638,052 in damages in this pending dispute.

On June 10, 2024, an investor alleged that Wendell Trapp told them a fixed annuity would pay 7% for seven years. This dispute was denied by the firm.

In a dispute filed on May 27, 2024, an investor alleged that Wendell Trapp provided misinformation about bond funds purchased in her account. The firm denied this dispute.

Investors should know, however, that firms can deny disputes without an external review. You can still pursue FINRA arbitration and potentially recover damages after a denial.

On March 18, 2024, an investor alleged that Wendell Trapp transferred $63,500 and Energy Transfer stock to other accounts without authorization. This dispute was settled for $97,015.68.

FINRA Rule 3260

Unauthorized trading violates FINRA Rule 3260, which limits brokers to engaging in discretionary trading only in pre-authorized accounts. Both the firm and the client must approve an account before discretionary trading can occur.

FINRA Rule 2020

FINRA Rule 2020 prohibits the misrepresentation of investments and omission of material facts, including information about an investment’s charges, expenses, and fees.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Termination from Edward Jones

On February 26, 2024, Edward Jones fired Wendell Trapp following allegations that he failed to follow firm policies relating to annuity orders. 

Background Information 

Wendell Trapp has passed the following exams: 

• Series 66 – Uniform Combined State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination

Wendell Trapp previously worked for San Blas Securities (CRD#:290605) and Edward Jones (CRD#:250).

Kurta Law Can Help 

If you have worked with Wendell Trapp and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.