Former Sigma Stockbroker Fredrick M. Randhahn Suspended for Engaging in Private Transactions

Fredrick Martin Randhahn of South Ogden, Utah submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he has been fined and suspended for allegedly engaging in private securities transactions in violation of FINRA Rules 3280 and 2010. In January 2012, Randhahn joined Sigma Financial as a General Securities Representative. According to FINRA, Randhahn sold $625,000 in promissory notes related to a real estate investment fund to five investors, two of whom were also customers of Sigma Financial. The FINRA findings stated that Randhahn invested $125,000 in the promissory notes and received $33,167.67 in commissions in connection with these transactions. In addition, FINRA found that Randhahn denied participating in any private securities transactions or selling any non-securities investment products in response to firm questionnaires.

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Sigma Financial Stockbroker Suspended for Participating in Private Securities Transactions

Kevin Edward Looser of Delphos, Ohio submitted a Letter of Acceptance, Waiver, and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) for allegedly participating in private securities transactions in violation of NASD Rule 3040 and FINRA Rule 2010. In September 2005, Kevin Looser joined Sigma Financial Corporation (Sigma) as a General Securities Representative. According to FINRA, from September 2011 through July 2014, Looser allegedly participated in fourteen private securities transactions without providing prior written notice to his firm. The FINRA findings stated that Mr. Looser disclosed to his firm that he was a co-owner of a company that developed video platforms to connect on-call interpreters with deaf or limited language individuals and the firm approved. But FINRA alleged Mr. Looser also raised $430,000 for the company from thirteen firm investors and one non-firm investor. FINRA stated that he discussed agreements and received checks from two of the investors which he gave to the co-owner that were not disclosed to his firm.

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