{"id":661,"date":"2010-03-11T21:32:01","date_gmt":"2010-03-11T21:32:01","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2010\/03\/stifel_nicolaus_and_co_to_pay"},"modified":"2022-03-09T15:59:56","modified_gmt":"2022-03-09T21:59:56","slug":"stifel-nicolaus-and-co-to-pay","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/stifel-nicolaus-and-co-to-pay\/","title":{"rendered":"Stifel, Nicolaus, and Co. to Pay Back $78,000 to Missouri Investors for Broker Fraud"},"content":{"rendered":"

Stifel, Nicolaus and Co. Inc. has reached an agreement with Missouri Secretary of State Robin Carnahan over the broker fraud committed by former Stifel securities broker Girard Munsch. As part of the deal, the three Missouri investors will get back $78,000 in commissions that they paid and the broker-dealer will pay over $130,000 in payments, penalties, and costs.
\nOver three years, Munsch made over 500 trades in accounts owned by three Missouri investors. He has admitted that during some of the transactions, he was the only one to benefit. One investor, Marie Ganninger, says that she started investing with the former Stifel broker after her husband passed away. She chose to go with Munsch because he was the broker of one of her relatives. She will be getting back the commissions she paid.
\nThe state of Missouri went after Stifel for failing to properly supervise Munsch and neglecting to notice or take action when he made unsuitable recommendations and excessive trades.
\nIn 2007, the former Stifel broker entered into a consent order. He was ordered to pay $50,000 in investor restitution for broker misconduct<\/a>, and his license was suspended. He retired and can no longer work as a broker in Missouri.
\nPlease do not despair if you lost money because of broker fraud. There are legal remedies available that can allow you to recoup your investment losses.
\nStifel to return $78,000 to investors, pay $130,000 in penalties<\/a>, St. Louis Business, March 11, 2010
\nConsent order in the matter of Girard Augustus Munsch, Jr., State of Missouri Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stifel, Nicolaus and Co. Inc. has reached an agreement with Missouri Secretary of State Robin Carnahan over the broker fraud committed by former Stifel securities broker Girard Munsch. As part of the deal, the three Missouri investors will get back $78,000 in commissions that they paid and the broker-dealer will pay over $130,000 in payments, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773,3752,3747],"tags":[],"class_list":["post-661","post","type-post","status-publish","format-standard","hentry","category-broker-fraud","category-financial-firms","category-stifel-nicolaus-co-inc"],"yoast_head":"\nStifel, Nicolaus, and Co. to Pay Back $78,000 to Missouri Investors for Broker Fraud — Investor Lawyers Blog — March 11, 2010<\/title>\n<meta name=\"description\" content=\"Stifel, Nicolaus and Co. 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