September 25, 2017 Comments (0) Blog, Current Investigations, Securities Fraud

Dale Krueger Permanently Barred from Securities Industry

Dale Krueger
(Last Updated On: September 25, 2017)

FINRA Bars Dale Krueger for Alleged Collectible Medal Investment Scheme

According to the Financial Industry Regulatory Authority, Dale Krueger has been barred from the securities industry. FINRA alleges Krueger, formerly of Moloney Securities, failed to comply with information requests relating to his alleged misuse of customer funds.

Dale Krueger, of Midland, Michigan, allegedly solicited clients to invest $25,000 in collectible medals that he sold. Krueger allegedly made the investment through a business entity that he controlled, and the funds were deposited into his bank account.

According to FINRA, the clients knew that Krueger used the funds to purchase and store the medals on their behalf, but he allegedly failed to provide any documentation of the sale. Additionally FINRA says that Krueger purportedly failed to physically separate the purchased medals from his own holdings, or to document the customers’ holdings in his records. Krueger also allegedly made unauthorized loan and commission payments totaling $5,800 to relatives of the clients.

FINRA barred Krueger in all capacities, stating he violated Rules 2150 and 2010 for improperly using customer funds and failing to observe high standards of commercial honor. Failing to cooperate with FINRA staff is a violation of Rule 8210. Krueger signed FINRA’s letter of acceptance, waiver and consent without admitting or denying the findings.

FINRA BrokerCheck Report

According to his FINRA BrokerCheck Report, Krueger was registered with Moloney Securities in Midland, MI from July 2011 until December 2015.  Previously he was affiliated with Harrison Douglas, Inc. as well as three FINRA-expelled firms, including Alternative Wealth Strategies, Broad Street Securities, and The Trading Desk. His Broker report lists eight customer disputes during his career. Allegations include misrepresentation, unsuitable investments, fraud, and breach of fiduciary duty, among others.

FINRA barred Krueger in all capacities, alleging that he violated Rules 2150 and 2010 for improperly using customer funds and failing to observe high standards of commercial honor, while failing to cooperate with FINRA staff is a violation of Rule 8210.

Krueger signed FINRA’s letter of acceptance, waiver and consent without admitting or denying the findings.

For FINRA’s full findings see FINRA case # 2015048137601.

Free Consultation

This information, which is publicly available on FINRA’s website, has been provided by The White Law Group.

If you have questions about investments you made with Dale Krueger, The White Law Group may be able to help you.  To speak with a securities attorney, please call 888-637-5510.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm. The firm has offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group, and its representation of investors, please visit our website at http://www.whitesecuritieslaw.com.