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James Kolf—Investment Fraud Charges

James Kolf—Investment Fraud Charges

James Kolf Allegedly Operated a $1 Million Investment Scheme; Kolf Allegedly Solicited His Existing Customers at New England Securities to Invest in SFN Financial Network

James Kolf, 64, allegedly operated a $1 million investment scheme, according to an Indictment filed in U.S. District Court in Madison, Wisconsin currently under review by attorneys Joe Peiffer and James Booker.

Peiffer Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in issues related to James Kolf’s alleged investment fraud scheme.

Investors who believe they may have lost money in activity related to James Kolf’s alleged investment fraud scheme are encouraged to contact attorneys Joe Peiffer or James Booker with any useful information or for a free, no obligation discussion about their options.

Kolf allegedly began soliciting existing customers he held at New England Securities, the company he worked for until 2015, to invest in SFN Financial Network, an illegitimate investment vehicle, the aforementioned Indictment notes.

Kolf, a former Sauk City investment broker, is now facing a slew of federal charges after he allegedly used $905,077 in investor funds for his own personal expenses rather than making proper investments, the Indictment states.

James Kolf has been charged with 16 counts of alleged wire fraud, one count of alleged mail fraud and one count of alleged money laundering which disseminated from an alleged scheme to steal investor money between April 2011 and August 2016, according to the Indictment.

If convicted, Kolf could face up to 20 years for each wire and mail fraud count and up to 10 years for the money laundering count, the Indictment states.

The Peiffer Wolf securities lawyers are currently investigating James Kolf’s alleged investment fraud scheme.

James Kolf Allegedly Made Misrepresentations to Customers, Promising 6 Percent Annual Returns in SFN Financial Network, a Purportedly Illegitimate Investment; Kolf Allegedly Used Investor Funds to Buy a Wisconsin Home rather than Making Sound Investments

James Kolf allegedly made misrepresentations to investors regarding SFN Financial Network, according to the aforementioned Indictment presently being reviewed by attorneys Joe Peiffer and James Booker

The story begins back in 2011 when Kolf, working as a broker-dealer and an investment adviser in Middleton and Madison, began allegedly soliciting existing customers he had at New England Securities, the company he worked for until 2015, to invest in SFN Financial Network, the Indictment reports.

SFN Financial Network was allegedly not a verified and legitimate investment and Kolf also purportedly allegedly had no intentions of investing any of the money he took in, the Indictment states.

Kolf, however, allegedly made claims that investor funds would be put into energy companies and that said investments would bring in 6 percent annual gains, the Indictment notes.

Kolf worked to increase the appearances of SFN Financial Network to potential investors, the Indictment notes. For example, Kolf allegedly issued investors prospectuses and marketing materials for the closely named FS Energy & Power Fund, which is a genuine investment, the Indictment states.

The problem, however, is that in reality, FS Energy & Power Fund and SFN Financial Network had no real relationship, and SFN Financial Network allegedly made no investment in FS Energy & Power Fund or any other like energy or power-producing entity, the Indictment reports.

Rather than making legitimate investments, Kolf allegedly used the hard-earned cash of investors to purchase a 2015 silver Mini Cooper and a house on Mulberry Street in Sauk City, the indictment notes.

Kolf also allegedly used investor funds to make home improvements, make credit card payments, resolve an outstanding tax debt to the U.S. Treasury Department, and to pay property taxes, the Indictment reports.

The government also appears to be seeking forfeiture of the aforementioned assets, the Indictment notes.

Furthermore, Kolf also allegedly gave investors fraudulent account statements which held year-to-date profits and portfolio balances, the Indictment notes.

Kolf also allegedly made some payments to a few investors while purportedly tellking them that said payments were interest earned from their accounts, statements which were allegedly inaccurate.

Finally, James Kolf has received one FINRA sanction and four pending customer complaints, according to his BrokerCheck report

Securities Lawyers Investigating

The Peiffer Wolf securities lawyers often represent investors who lose money as a result of investment fraud and are currently investigating James Kolf’s alleged investment fraud scheme. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of James Kolf’s alleged investment fraud scheme may contact the securities lawyers at Peiffer Wolf, Joe Peiffer or James Booker, for a free no-obligation evaluation of their recovery options, at 216-589-9280 or via e-mail at [email protected] or [email protected].



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