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Mark Peter Koestner, Former Wells Fargo Advisors Broker, Banned From the Securities Industry

By April 25, 2016September 20th, 2017News

Mark Peter Koestner, a former representative of Wells Fargo Advisors, consented to FINRA’s sanction that he be barred from the securities industry.  According to Koestner’s Letter of Acceptance, Waiver and Consent (“AWC”) with FINRA, Koestner “voluntarily resigned” from Wells Fargo while Wells Fargo “was conducting an internal review of the wire activity in Koestner’s bank account to and from a law firm in Panama.”  The AWC also states that Wells Fargo’s internal review revealed that “it appeared that ‘Koestner wired funds to a law firm in Panama to participate in an unapproved private securities transaction.’”

Rather than participate in FINRA’s investigation of his conduct, Koestner consented to “a bar from associating with any FINRA member in any and all capacities.”

A review of Koestner’s FINRA BrokerCheck report shows that he was a registered representative of Wells Fargo Advisors from October 2000 through July 2014.  The report further indicates that Koestner has been the subject to two prior customer complaints, both involving claims of unsuitable investment recommendations.

The FINRA disciplinary proceeding relating to Koestner’s AWC is No. 2014042031901.

Fishman Haygood represents investors who have suffered investment losses in claims against their brokers or financial advisors. Our experienced attorneys have brought securities fraud cases in state and federal courts across the nation, as well as in FINRA arbitration. We work to help investors recoup their losses.

Of course, all cases are different. For that reason, we analyze each client’s matter individually and provide our personalized evaluation only after considering all of the facts and circumstances of all possible claims. If you or someone you know is the victim of securities fraud, please contact a Fishman Haygood lawyer today.

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