According to a Litigation Release from late 2014, the SEC filed an emergency action alleging that Levi Lindemann–alleged to be a resident of West Lakeland Minnesota–operated a fraudulent scheme through his private company, Gershwin Financial, Inc. and his sole proprietorship, Alternative Wealth Solutions. The SEC’s complaint alleged that from at least September 2009 to August 2013, Lindemann raised approximately $976,000 from six investors located in Wisconsin for investments that were never made, and also defrauded other investors out of millions of dollars.
The Financial Industry Regulatory Authority’s (FINRA) BrokerCheck reveals that Levi Lindemann was a broker registered with J.P. Turner & Company, LLC from November of 2010 to March of 2012, Workman Securities Corporation from October 2009 to November 2010, and United Equity Securities, LLC from March 2008 to October 2009. FINRA has enacted rules that require FINRA members to supervise their brokers.
The SEC was successful in freezing Lindemann’s assets and the SEC’s case is ongoing in the U.S. District Court for the District of Minnesota. The Honorable Patrick Schiltz is presiding over the matter.
FINRA arbitration is the primary forum where investment fraud victims can attempt to recover their losses from the brokers and/or broker-dealers who were responsible.