If you have invested with Hilo, Hawaii stockbroker John K. Kai, call Kons Law Firm at (312) 757-2272 today for a FREE Consultation regarding your investment loss recovery options.
According to a recent FINRA report, John Kaleihiehie Kai was recently suspended by FINRA for failing to respond to a request for information. In April 2017, he was discharged from his previous brokerage firm, First Allied Securities, for allegedly violating numerous firm policies, including communications with the public, undisclosed private securities transaction and outside business activity, borrowing funds from a client, and exercising discretion in client brokerage accounts without the firm’s approval. First Allied also alleged that John Kai received client funds under the false pretense of investing the funds for the client without any apparent account opened under the client’s name.
In addition, upon information and belief, John Kai was president of Pinnacle Investment Group, LLC and Pinnacle Media Group, LLC, and a previous branch manager and investment representative of Commonwealth Financial Network. Mr. Kai was the resident manager of the Hilo office of Paine Webber, Inc. and was with Merrill Lynch prior to Paine Webber, Inc. Mr. Kai is a graduate of Sacramento City College and attended the University of the Pacific from 1983 to 1985. In 2013, John Kai was named as interim president for Royal Hawaiian Resources Inc. and its general partner, Royal Hawaiian Orchards LP. John Kai appears to also have served as a director of Royal Hawaiian Orchards since June 2004.
In addition, brokerage firms like First Allied and Commonwealth have a strict regulatory obligation to supervise financial advisors like that John Kai and their practices like Pinnacle Investment Group, LLC to ensure that they do not engage in private securities transactions or outside business activities that are not approved by the brokerage firm. In cases where a stockbroker sells securities that are not suitable for their customers or sells unregistered or non-approved securities, the brokerage firm itself may be held liable for the losses the investors suffer. As a result, investors who lost money with financial advisor John Kai be able to pursue recovery of their investment losses through FINRA arbitration or securities litigation.
If you are an investor that has suffered losses investing with Hilo, Hawaii stockbroker John Kaleihiehie Kai, you may be able to recover your losses through FINRA arbitration or securities litigation. Please call Kons Law Firm at (312) 757-2272 for a FREE, NO OBLIGATION consultation to discuss your investment loss recovery options.
Kons Law Firm represents investors nationwide in securities arbitration and litigation matters. To learn more about the Firm’s securities litigation and FINRA arbitration practice, please visit www.investmentlossattorney.com.