Questar Capital Corp. has fired Jason Kavanaugh, its senior vice president of mergers and acquisitions, because he failed to disclose outside business activities and private securities transactions.
Kavanaugh recently came under fire when it was discovered that he paid E-M Management Co. LLC $57,000 for fake, unregistered securities. Kavanaugh also set up JASTAR, LLC, which acted as the official subscriber to the deals.
E-M Management Co. LLC, which is owned by Edward May. The Securities and Exchange Commission has charged May with masterminding an investment scam involving fake Las Vegas casino and resort telecommunications contracts. Some 1200 investors became victims of May’s $250 million scam.
Brokerage executives and representatives must disclose all external business deals.
Questar Capital is a unit of Allianz Life Insurance Company of North America. The combined company has over 1,000 affiliated advisers and representatives.
Our stockbroker law firm represents victims of investor fraud. Over the years, our investment fraud lawyers have helped thousands of investors recoup their losses. Contact Shepherd Smith and Edwards today.
Related Web Resources:
Questar exec fired for disclosure failure, InvestmentNews, February 22, 2008
SEC charges Edward May, E-M Management with fraud, Reuters.com, November 20, 2008
Allianz Life Insurance Company of North America