Chris Kubiak: FINRA Bars Brookfield, Wisconsin Broker

A disciplinary action taken by the Financial Industry Regulatory Authority against former Brookfield, Wisconsin broker Chris Kubiak (CRD# 1527367) barred him over allegations he converted customer funds. A former representative of Calton & Associates and Freedom Investors Corporation, Kubiak was barred from acting as a broker or otherwise associating with a broker-dealer firm.

According to a Letter of Acceptance, Waiver and Consent (No. 2018059861801) dated October 2018, Chris Kubiak was associated with Freedom Investors Corporation and Calton & Associates when, between June 2015 and August 2018, he received funds from four customers, including three senior citizens, totaling $270,000. FINRA states that they provided him with the funds for the purpose of investing on their behalf. Rather than invest them, however, FINRA states that he deposited them into his personal bank account and used the funds for personal purposes, “including to gamble and to pay for personal medical bills.” FINRA found this conduct to constitute violations of FINRA Rule 2150(a), which states that no associated person “shall make improper use of a customer’s securities or funds,” and FINRA Rule 2010, which concerns high standards of commercial honor and just and equitable principles of trade. As a result of the foregoing alleged conduct, Chris Kubiak was barred from associating in any capacity with any FINRA member firm.

Chris Kubiak was also sanctioned by the Securities and Exchange Commission in August 2019, in connection to findings he “pled guilty to a fraud scheme and to one count of wire fraud in violation of Title 18, United States Code, Section 1343 before the United States District Court for the Eastern District of Wisconsin.” He was indefinitely barred from registration as a broker or investment advisor, and from participating in any penny stock offering.

Chris Kubiak is currently not registered as a broker or investment adviser. His employment history includes Calton & Associates in Brookfield, Wisconsin; American Global Wealth Management in McDonough, Georgia; Freedom Investors Corporation in Brookfield, Wisconsin; and Dreher & Associates in Oakbrook Terrace, Illinois. He currently holds zero state licenses and has passed five securities industry qualification examinations.