30 Jun Jim Jinkook Seol— Outside Business Activities and Participated in Private Securities Transactions
Jim Jinkook Seol Allegedly Failed to Disclose Side $100 Million EB-5 Solar Investment Business, Seeking Investors via trips to China and South Korea to solicit investors in a project that would eventually fund NextEra Energy Capital Holdings LLC’s Genesis Solar Energy Project
Jim Jinkook Seol, from September 21, 2011 through June 4, 2014, allegedly failed to disclose the $100 million EB-5 solar investment side business he was operating, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Alan Rosca and James Booker.
In addition, Jim Jinkook Seol allegedly made trips to China and South Korea to solicit investors in a project that would eventually fund NextEra Energy Capital Holdings LLC’s Genesis Solar Energy Project, an enterprise that would fall under the EB-5 visa program, according to the aforementioned Complaint.
The Peiffer Rosca Wolf securities lawyers are currently investigating Jim Jinkook Seol’s alleged outside business activities and private securities transactions.
Jim Jinkook Seol Allegedly Failed to Provide Written Notice to Ameriprise and, Hence, Allegedly Broke NASD and FINRA Rules and therefore FINRA is Calling for Monetary Sanctions against Seol
Jim Jinkook Seol, who was fired from Ameriprise, allegedly received a salary of $6,000 a month from WRCI in fees and expenses connected to the Genesis Project and other EB-5 projects, and, as of April 2016, has allegedly been paid $144,000 in salary from his project, according to the aforementioned Complaint being examined by attorneys Alan Rosca and James Booker.
Seol allegedly did not inform Ameriprise of his formation of WRCI or CEIFI, or of his plans to introduce and recommend investments in CEIFI to foreign individuals, said Complaint reports.
Seoul, as a result, without providing any written notice to the firm, allegedly participated in and sold partnership interests in CEIFI to 200 investors, and therefore violated NASD and FINRA Rules, and therefore FINRA is calling for monetary sanctions against him, the Complaint also notes.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged outside business activities and participation in private securities transactions, and are currently investigating Jim Jinkook Seol‘s participation in outside business activities and private securities transactions. 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 Jim Jinkook Seol‘s participation in outside business activities and private securities transactions are encouraged to contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 585-310-5140.