Caroline Ehlers: Illinois Investigates Alleged Fraud by Schwab Advisor

A recent regulatory investigation of Lone Tree, Colorado financial advisor Caroline Ehlers (CRD# 7410093) alleges that she engaged in deceitful practices that violated securities law. Records provided by the Financial Industry Regulatory Authority indicate that she is a broker with Charles Schwab & Company.

Ms. Ehlers’ BrokerCheck report describes the regulatory investigation into her conduct. Disclosed in January 2023 by the Illinois Secretary of State Securities Department, the investigation allegedly involved “evidence indicating potential violations of the Illinois Securities Law of 1953,” specifically alleging that she engaged in “Fraudulent or Deceitful Practices in the Purchase or Sale of Securities.” Her BrokerCheck report does not disclose any charges against her resulting from the Department’s investigation and evidentiary findings.

For reference, the Illinois Securities Law of 1953 states that investment advisors violate that law if, in the conduct of business as an investment advisor, they “engage in any transaction, practice, or course of business which operates as a fraud or deceit upon any client or prospective client.” Investment advisors who are found to have engaged in fraudulent or deceitful practices may be prohibited or suspended from offering or selling securities, or have their registrations revoked by the Secretary of State.

According to the Financial Industry Regulatory Authority, Caroline Ehlers holds less than one year of securities industry experience. Based in Lone Tree, Colorado, she has been a broker with Charles Schwab & Company since April 2022. She has no previous registrations. Her credentials include the passage of three securities industry qualifying examinations: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7TO; and the Uniform Securities Agent State Law Examination, or Series 63. She holds 51 state licenses. (Information current as of February 13, 2023.)

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