June 2014- Spartanburg, South Carolina- Claus Christoph Foerster was barred by FINRA from association with any member in any capacity to resolve allegations that he solicited firm customers to invest in a fictitious entity and converted the funds to his own use. The entity was not an investment fund but rather Foerster’s own personal bank account. About $3 million was converted.
According to FINRA records, Foerster was most recently registered as follows:
- Raymond James 2/2013-6/2014
- Morgan Keegan 2/2008-2/2013
- Citigroup Global 7/1997-2/2008
If you had an account with Foerster that suffered losses you may be able to recover losses through FINRA arbitration. Call to discuss your legal options.
Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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