The Silver Law Group and the Law Firm of David Chase have announced their joint investigation into allegations that Fort Lauderdale, Florida based Invest Financial Corporation broker Roger Kroeger made improper loans from a customer account to a family members and/or misappropriated customers funds. Invest Financial Corporation terminated Kroeger on November 17, 2017, on the grounds that: “Representative admitted to facilitating a loan to his sister from a senior client, and was subsequently charged with multiple felony offenses in connection with these circumstances.”
The Sun Sentinel recently reported that Kroeger is facing state criminal charges arising out of his handling of this elderly customer’s brokerage account. The criminal charges include: exploitation of the elderly, grand theft and money laundering.
Securities brokerage firms are legally responsible for supervising the activities of their stock brokers and financial advisors, and can be held liable for their wrongful conduct, including misappropriation of customer funds.