Switch to ADA Accessible Theme
Close Menu
Free Consultation: 888-976-6111

Ron Hannes: Ex-Woodbury Rep Barred Over Conversion Allegations

Ron Hannes (CRD# 1462241), formerly a financial professional in Spokane, Washington, was recently sanctioned by the Financial Industry Regulatory Authority in connection to allegations he converted customer funds. Formerly registered with Woodbury Financial Services, Hannes has been barred from acting as a broker.

According to a Letter of Acceptance, Waiver and Consent (No. 2019064915301) dated February 2020, Ron Hannes was associated with Woodbury Financial Services as an Investment Company and Variable Contracts Products Representative from 1994 until December 2019, when the firm filed notice that it had terminated his association after being notified by a client that funds paid to him for the purchase of a life insurance contract ‘were not forwarded to the life insurance company.” FINRA subsequently initiated an investigation into these allegations, and sent him a request on January 7, 2020 to provide documents and information by January 21, 2020. The findings state that he indicated to FINRA in a letter from counsel on January 28, 2020 that he was in receipt of FINRA’s request but would no produce the requested materials. FINRA states that this refusal contravened FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, he was barred from associating with any FINRA member in any capacity.

FINRA records state that Ron Hannes was also named in a Statement of Charges filed by the Washington Securities Division on March 25, 2020 alleging that he violated Washington Securities Law by “employing a scheme to defraud his clients by selling unregistered, fictitious investments, concealing these sales from his broker-dealer, and falsifying documents in response to the broker-dealer’s internal investigation.” The Division also alleges that he “defrauded at least nineteen clients of at least $2.9 million.” The charges remain pending.

Ron Hannes is currently not registered as a broker. His previous registrations include Forest Securities, Woodbury Financial Services, Fortis Investors, Amev Investors, and BLN Investment Corporation. He has passed three securities industry qualifying examinations and his BrokerCheck report lists zero state securities licenses. (Information current as of May 27, 2020.)

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
Latest Blog Posts
  • UBS Adviser Alex Williams: Investor Alleges Unsuitable Options Investment

    Alex Williams (CRD# 2646185), a broker and investment adviser based in New York, has received a pending customer complaint. According...

    Read More
  • $600K Options Complaint Against Los Angeles Broker Bill Calvert

    Financial Industry Regulatory Authority (FINRA) records indicate that UBS Financial Services broker Bill Calvert (CRD# 1023796) has received a pending...

    Read More
  • UBS’ Timothy Croak: Unsuitable Options Strategy Allegations

    Timothy Croak (CRD# 840899), a New York City-based broker and investment adviser, has received a pending customer complaint, according to...

    Read More
  • Wendy Holmes: UBS Adviser Has $1.4M in Pending Options Overlay Complaints

    Wendy Holmes (CRD# 2944190), a broker and investment adviser registered with UBS Financial Services, has received two pending customer complaints...

    Read More
  • Previous
  • Next