Securities Lawyers Blog
According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) former advisor Kristian Gaudet (Gaudet), formerly associated with Ameritas Investment Corp. (Ameritas) in Cut Off, Louisiana has been terminated by the firm for using client funds for personal use. Thereafter, in January 2019, Gaudet consented to the sanction and findings that he refused to appear for and provide FINRA on-the-record testimony concerning the internal investigation by Ameritas that Gaudet was found to have utilized client funds for personal use. Accordingly, Gaudet was barred by FINRA from the securities industry.
According to newsources, Gaudet arrested for stealing nearly $1 million from his clients. Gaudet was a former vice president of the Greater Lafourche Port Commission and owner of Kris Gaudet Insurance and Financial Services. Authorities received a complaint form a couple that found issues with a $350,000 investment made to “Winston Financial” in 2012. Authorities claim that the money was used for purposes other than the investment purposes for which it was intended. Authorities also accused Gaudet of using funds received in May from another couple to buy a home in Larose. Gaudet has been accused of frequently using money he received from investors for personal gain including using money clients paid for insurance to buy real estate.