Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

Meyer Wilson Investigating Claims Against Former Broker John S. Hudnall

Meyer Wilson is now investigating claims against former BancWest Investment Services, Inc. and U.S. Bancorp Investments, Inc. broker John S. Hudnall (CRD# 4200298).

According to the Financial Industry Regulation Authority (FINRA) Department of Enforcement, from May 2012 to July 2014, Hudnall allegedly participated in unapproved and undisclosed private securities transactions. He is also accused of offering customers of the firm unapproved and undisclosed financial sales promotions, as well as recommending and selling a variable annuity product considered unsuitable for the customers. When FINRA requested information from Hudnall regarding the alleged violations, FINRA says that Hudnall provided false information.

In 2012, while with BancWest, Hudnall allegedly split a $400,000 REIT investment to try to avoid his brokerage firm’s concentration guidelines. According to the allegations, the first portion was $40,000 which Hudnall supposedly submitted to his brokerage firm for supervisory review and approval. The larger portion, $360,000, was allegedly submitted directly to a REIT sponsor with the brokerage firm’s review or approval. FINRA claims that this was allegedly done to circumvent the firm’s concentration guidelines, as the total investment would have exceeded the allowed transaction amount.

The order alleged that Hudnall offered unapproved sales promotions while registered with BancWest between April 2011 and July 2012. He is accused of offering and paying two customers monetary incentives from his own account in an attempt to have them hold fixed annuity contracts for at least one year prior to surrendering the contracts. According to FINRA, this allegedly allowed Hudnall to retain the commissions that would have been lost if the customer had surrendered the contracts before the one-year mark.

In July 2014, while Hudnall was registered with U.S. Bancorp, he allegedly sold unsuitable annuities that increased liquidity risk while offering less investment options and flexibility. When questioned about this transaction in May 2013, Hudnall allegedly provided false information.

Our securities fraud attorneys are currently investigating allegations involving former broker John S. Hudnall. If Hudnall was your broker and you suffered investment losses, you may be able to recover them. Call us today to discuss your potential claim in a free consultation.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
Columbus Office

305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram