NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.

Denver Arlene Kalkofen
OS/2008015168701

Kalkofen instructed customers to make checks payable to cash or in the name of a fictitious company, and deposited the checks into her personal checking account, using the funds to gamble and pay for personal expenses. Kalkofen pled no contest in the Circuit Court of Calhumet County in the State of Wisconsin to four felony counts of theft in a business setting in excess of $10,000, and two felony counts of issuing securities for improper purposes. Kalkofen failed to respond to FINRA requests for information.

Denver Arlene Kalkofen : Barred

Tags: Check  Felony