Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Abolarin (Abolarin), currently associated with PFS Investments Inc., has at least 2 disclosable events. These events include 2 tax liens, alleging that Abolarin recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on October 08, 2024.
On September 4, 2024, without admitting or denying the findings, Abolarin entered into an Acceptance, Waiver and Consent (“AWC”) with FINRA wherein Abolarin consented to the entry of findings that between April 2017 and May 2024, without providing prior written notice to his firm, Abolarin formed an LLC and operated an information-technology consulting business, which was his primary source of income and on which he spent most of his working hours. For several months in 2021, Abolarin also owned and operated an e-commerce storefront business though the same LLC, again without providing notice to his firm. On multiple annual compliance questionnaires, Abolarin inaccurately affirmed that he had disclosed his outside business activities to his firm. Abolarin agreed to a one-month suspension from associating with any FINRA member in all capacities but no monetary sanctions were imposed against Abolarin due to his financial condition.
