FINRA fined, suspended, and ordered disgorgement from Financial Management Network and FMN Capital Corporation (Mission Viejo, CA) broker Jeffrey David Stanga for failing to fully disclose an outside business activity involving a residential real estate flipping business for which he sold promissory notes to investors.
FINRA's report AWC #2018057000401 indicates that Jeffrey Stanga (CRD #6387255) participated in eight private securities transactions totaling more than $1.1 million and involving promissory note renewals at Red Cedar Residential LLC.
Although Stanga purportedly told FMN Capital of his involvement in the outside business activity Red Cedar Residential, according to FINRA, Stanga described his involvement as an "investor" and not as the "manager" he truly was.
Stanga's BrokerCheck also lists employment as an independent insurance agent at Scevro Finance in Aliso Viejo, California.
FINRA's ordered disgorgement pertains to ill-gotten referral fees in connection with private securities transactions away from the firm and without FMN Capital's written permission.
If you have invested with Financial Management Network investment adviser / FMN Capital Corporation broker Jeffrey David Stanga or with any registered representative who sold you promissory notes away from their firm without permission to do so and this unauthorized outside business activity has proven harmful to your investments or interests, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.