Former Seattle, Washington financial advisor William Sandeman (CRD# 831384) was recently sanctioned and barred in connection with alleged rule violations....
Read MoreTheodore Lorenzen: Mayfield Heights Financial Advisor Complaints
Settled and pending investor complaints against Mayfield Heights, Ohio broker and investment advisor Theodore Lorenzen (CRD#: 2044769) allege conduct including fraud, over-concentration, suitability violations, misrepresentation, and more. Lorenzen is a representative of Securities America, where he was registered since 2005, according to information drawn from Financial Industry Regulatory Authority records.
A pending complaint filed in 2018 alleges that as a representative of Securities America, Theodore Lorentzen unsuitably over-concentrated his assets in variable annuities, acted negligently, and breached his fiduciary duty. The complaint alleges unspecified damages.
A complaint filed in 2012 alleged he recommended and sold an unsuitable alternative investment, made misrepresentations and omissions of material facts, violated state and federal securities law, committed fraud, and breached his fiduciary duty. The complaint reached a settlement of $24,500.
A complaint filed in 2010 alleged he committed fraud, acted negligently, misrepresented and omitted material facts, and violated FINRA rules in connection with the sale of investments in Medical Capital. The complaint reached a settlement of $2,761,026.27.
A complaint filed in 2009 alleged he committed he acted negligently, made misrepresentations of material facts, breached his fiduciary duty, violated Ohio law, and aided and abetted fraud in connection with Medical Capital investments. The complaint reached a settlement of $1,479,386.47.
A complaint filed in 2009 alleged he recommended an unsuitable investment in Medical Capital, misrepresented material facts, committed fraud, acted negligently, and breached his fiduciary duty. The complaint reached a settlement of $135,000.
Theodore Lorenzen has been registered as a broker and investment advisor with Securities America in Mayfield Heights, Ohio since 2005. His employment history includes Lincoln Financial Advisors Corporation in Fort Wayne, Indiana; the Lincoln National Life Insurance Company in Fort Wayne, Indiana; Pruco Securities Corporation in Newark, New Jersey; and the Prudential Insurance Company of America in Newark, New Jersey. He currently holds ten state licenses and has passed five securities industry qualification examinations.
