Lawrence Hagedorn, O.N. Investments – Andover, Kansas
Are you concerned about investments you made with Lawrence Hagedorn in Andover, Kansas? If so, the securities attorneys at The White Law Group may be able to help you.
According to a Default Final Order from the Kansas Securities Commission on May 28, 2019, the regulator has barred former financial advisor Lawrence Hagedorn from the securities industry, and ordered him to pay a $50,000 fine and restitution of $102,500 to two customers for allegedly borrowing money from them.
Hagedorn, while registered as an insurance agent and investment adviser with O.N. Investment Management Company, allegedly borrowed money from numerous customers during the period of September 2007 thru December 2015. Hagedorn purportedly claimed he was using the money to expand his financial services business, but instead allegedly deposited the money into a personal checking account.
According to his FINRA BrokerReport, Hagedorn was registered with the O.N. Equity Sales Company in Andover, Kansas from July 2007 until September 2017 when he was reportedly discharged for “borrowing money from customers in violation of firm policy.”
The State of Kansas has apparently also filed criminal charges against Hagedorn on February 15, 2019 as indicated on his broker record for “Theft by Deception” and “Criminal violation of securities regulations.” These charges are still reportedly pending.
Potential Lawsuits to Recover Losses
The White Law Group is investigating potential lawsuits regarding the liability that his O.N. Investment Management Co. may have for failure to properly supervise Hagedorn.
When brokers violate securities laws, such as borrowing money from customers, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.
Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.
We represent investors in FINRA arbitration claims in all 50 states, including Kansas. Our attorneys have recovered millions of dollars from many brokerage firms in the past.
If you have suffered losses investing with Lawrence Hagedorn, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.
For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.