One other ex-LPL Financial advisor in bother, this time in Iowa.
William Tunink, an trade veteran, was indicted for operating a Ponzi scheme this month in Des Moines.
Last week, a federal grand jury in Des Moines returned an indictment charging Tunink, who was registered with LPL Financial from 2021 to 2025, with 10 counts of wire fraud associated to a Ponzi scheme involving a number of victims and greater than $2 million in losses.
A spokesperson for LPL Financial didn’t return a name Monday to remark. FINRA barred Tunink from the securities trade in March, in keeping with his BrokerCheck profile, and LPL Financial final yr fired him.
With greater than 30,000 monetary advisors working with LPL, the agency by far is the biggest brokerage agency within the United States by headcount, and a handful of its advisors have been the main target not too long ago of legal or regulatory actions.
Some state and nationwide regulators for years have been important of potential gaps in supervision of enormous networks of impartial contractor advisors like these at LPL Financial, whereas companies level to enhancements in expertise to oversee advisors.
Just final week, Andrew Komarow, a one-time monetary advisor in Connecticut whose apply targeted on particular wants and autism, pleaded responsible in federal courtroom in Hartford to defrauding three monetary companies firms of near $3.3 million.
Komarow, 36, pleaded responsible to wire fraud, which has a most jail time period of 20 years. He was registered with LPL Financial from 2016 to the top of 2022 after which briefly with Royal Alliance Associates Inc., now Osaic Wealth, in keeping with his BrokerCheck report.
And final month, FINRA mentioned it had barred a dealer who was fired by LPL Financial in 2025 and confronted allegations of taking greater than $1.7 million from two clients whereas registered with LPL.
A veteran monetary advisor with 19 years of expertise within the trade, Rudy Anguiano was registered with LPL Financial in Brea, Calif., close to Anaheim, from April 2022 till final December, in keeping with his BrokerCheck profile.
FINRA barred Anguiano from working at any broker-dealer as a result of “conversion – the intentional and unauthorized taking of one other particular person’s property – of $1,731,000 from two clients’ accounts into an outdoor corporate affairs checking account,” in keeping with an announcement by FINRA.
Meanwhile, Tunink, 73, allegedly “solicited investments from victims underneath the guise that the cash could be used for asset placement functions,” in keeping with an announcement final Tuesday from the U.S. Attorney’s Office.
The indictment, nonetheless, alleges that “Tunink in the end used the cash for different functions, together with cost of Tunink’s private money owed and for his personal profit,” in keeping with the assertion, and losses allegedly exceed $2 million.
According to BrokerCheck, Tunink, who began working within the retail securities trade in 1996, has greater than 20 settled buyer complaints in opposition to him.
