Steven Rodemer

Date:

September 21, 2020

Type of alert:

SEC Final Judgement  

The U.S. District Court for the District of Colorado recently entered into a final judgment by consent against Steven Rodemer, a former investment adviser with Stifel, Nicolaus & Company (Stifel) in Pueblo, Colorado, for fraud in connection with his misappropriation of an elderly client’s investment funds.

According to the SEC Complaint filed on September 3, 2020, Rodemer served as the investment advisor for an elderly client and handled all of her finances, including advising and executing her investment strategy. Although he had the authority to transfer money between her bank and brokerage accounts, Rodemer used his power of attorney to write checks to himself and his bank and used the client’s brokerage account-issued debit/credit card to make ATM withdrawals for personal expenses. The SEC asserts in the Complaint that none of these transactions, which totaled $451,889, were authorized by the client and that Rodemer continued with this misconduct even after he was aware that he was being investigated for this activity.

The final judgment enjoins Rodemer from violating the antifraud provisions of the Investment Advisers Act of 1940 and orders him to pay a civil penalty totaling $385,536.

According to his FINRA BrokerCheck report, Rodemer was associated with Stifel from November 2011 to January 2020 when he was discharged for the misconduct alleged in the SEC Complaint. In March 2020, Rodemer consented to a bar from associating with all member firms of the Financial Industry Regulatory Authority (FINRA) in any and all capacities without admitting or denying any wrongdoing in a Letter of Acceptance, Waiver and Consent.

Take the next steps to find out if you have a claim:

Step 1.

Talk to an Experienced Attorney Today

Call and speak to one of our attorneys* for a no-cost consultation to discuss your situation, answer your questions, and help you determine the next steps. This call usually takes about 15 minutes, but we are happy to talk to you as long as you would like!

Step 2.

Quick Review of Your Paperwork

If we think you might have a case, we will need to review a few basic documents. If we determine you have a case, then you will have the option to hire us as your attorneys to pursue it.

Step 3.

Signed Attorney/Client Agreement

If you decide to hire us to pursue your case, we will have you sign an attorney-client agreement so we can begin the process of trying to recover your losses.*

*In the vast majority of cases, our agreement is contingent – meaning you won’t owe us any money unless we recover money for you.


Request a Consultation

This site contains attorney advertising. The attorneys at ChapmanAlbin are licensed to practice law in Ohio and Michigan. Any reference to past cases or successes made herein should not be construed as a guarantee of any future outcome. Each client and each client’s case is unique, and no result or outcome is or can ever be guaranteed. The information provided in this website is offered for general information purposes only; it is not offered as and does not constitute legal advice in any way. // Disclaimer