Advisor Alert: Our Attorneys Are Investigating Kevin John Kane For Investment Fraud
Did You Lose Money Because of Kevin Kane?
Filed: March 12, 2024
Kevin Kane currently has one (1) pending civil event and one (1) pending investigation. Overall, he has been the subject of one (1) civil event, one (1) investigation, two (2) termination events, two (2) financial events, one (1) judgment/lien event, and four (4) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Kevin John Kane.
Who Is Kevin John Kane?
- Advisor Name: Kevin John Kane
- Aliases: Kevin Kane
- CRD: 2269484
- Location: York, Pennsylvania
- Current Employer: Currently Not Registered
- Previous Firms: Cambridge Investment Research, Inc., Waddell & Reed, and Wells Fargo Advisors, LLC
- Number of Known Customer Complaints: 4
- Number of Known Civil Events: 1
- Number of Known Investigations: 1
- Number of Known Financial Events: 2
- Number of Known Judgment/Lien Events: 1
- Number of Known Termination Events: 2
- Can Kevin Kane Be Sued: Yes, in Private Arbitration
- Can Kevin Kane’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $68,914
- Highest Settlement: $3,809.59
If you have suffered investment losses by Kevin Kane, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a breach of fiduciary duty lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Kevin Kane For Broker Misconduct
As of this publication date, Kevin Kane has been the subject of 1 civil event, 1 investigation, 2 termination events, 2 financial events, 1 judgment/lien event, and 4 customer complaints. Let’s review them below.
In March 2023, Cambridge Investment Research, Inc. terminated Kevin Kane after the firm learned that he and a family member “repeatedly defrauded and breached their fiduciary duty” to clients.
In March 2023, United States Securities and Exchange Commission initiated a civil event against or in reference to Kevin Kane for violating the firm’s policies and procedures. Mr. Kane also defrauded and breached his fiduciary duty to clients and violated the anti-fraud provisions of Sections 206(1) and 206(2) of the Investment Advisers Act of 1940.d.
In March 2023, United States Securities and Exchange Commission initiated an investigation against or in reference to Kevin Kane for violating the firm’s policies and procedures. Mr. Kane also defrauded and breached his fiduciary duty to clients and violated the anti-fraud provisions of Sections 206(1) and 206(2) of the Investment Advisers Act of 1940.d.
In February 2021, Waddell & Reed terminated Kevin Kane for violation of multiple firm policies including outside business activities, communications with the public and client/data privacy.
In February 2021, Kevin Kane filed for bankruptcy in the Bankruptcy Court, PA.
In September 2017, Kevin Kane filed for bankruptcy in the Middle District of Pennsylvania.
In March 2017, Kevin Kane was the subject of a civil judgment or lien in the amount of $18,593.94. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor.
In December 2008, a complaint was filed against or in reference to Kevin Kane by a customer of Citigroup Global Markets Inc. alleging that Mr. Kane failed to follow instructions to put all monies in cash funds but invested in bond funds and money markets.
In February 2003, a complaint was filed against or in reference to Kevin Kane by a customer of Salomon Smith Barney alleging unsuitable investments. Per the customer, he/she lost over $21,553.96 because of Mr. Kane’s actions.
In November 2001, a complaint was filed against or in reference to Kevin Kane by a customer of Salomon Smith Barney alleging that he was misled because the Mr. Kane did not follow his original proposal for the allocation of the client’s 401(k) – April 2000 through October 2001. On November 15, 2001, Mr. Kane settled the claim for $3,809.59.
In July 2001, a complaint was filed against or in reference to Kevin Kane by a customer of Salomon Smith Barney alleging unauthorized trading, failure to follow instructions, and misrepresentation. Per the customer, he/she lost over $68,914 because of Mr. Kane’s actions.
How To File A Claim Against Kevin Kane (previously with Cambridge Investment Research, Inc., Waddell & Reed, and Wells Fargo Advisors, LLC) To Get Your Money Back
If you have questions about Kevin Kane, Cambridge Investment Research, Inc., Waddell & Reed, Wells Fargo Advisors, LLC, or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.