Karl Dierman – Securities Investigation
According to News Channel Nebraska on February 6, former financial advisor Karl Dierman of Columbus, Nebraska is accused of widespread fraud totaling tens of thousands of dollars dating back seven years.
Karl Dierman, 53, is allegedly charged with 12 counts of felony-forgery ranging from January, 2011 to May, 2012, according to reports.
According to his FINRA BrokerCheck report, Dierman was registered with Mass Mutual Investor Services in Columbus from 2010 until he was forced to resign in March of 2014.
FINRA barred Dierman from working in the securities industry later that year. Prior to that, Dierman also worked as a broker for Royal Alliance Associates in Columbus from 2006 to 2010.
Dierman has three settled three customer complaints, totaling $63,800, listed on his FINRA broker report. Allegations include forging documents, taking unauthorized loans from life insurance policies and borrowing money from customers without returning it.
He is scheduled to make his first court appearance in Platte County, Nebraska on February 14th.
Failure to Supervise
The White Law Group is investigating the liability Dierman’s employer may have for failure to properly supervise him.
Brokerage firms have a responsibility to monitor their brokers and ensure that investments recommendations are in the clients’ best interest. When brokers break laws or violate FINRA Rules, the firm they work for can be held liable for failure to supervise and responsible for investment losses.
If you invested with Karl Dierman and have concerns about your investments, please call The White Law Group at 888-637-5510 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to the representation of investors in FINRA arbitration claims against brokerage firms throughout the United States.
To learn more about The White Law Group, visit www.WhiteSecuritesLaw.com.