Haselkorn & Thibaut Opens Investigation Into Donald Clarence Osten Jr., Former Edward Jones Financial Advisor in Monticello, IN
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Are you a current or former client of Donald Clarence Osten Jr. in Monticello, Indiana? Haselkorn & Thibaut, a national investment fraud law firm with over 50 years of experience, a remarkable 98% success rate, and millions recovered for investors nationwide, has opened an independent investigation into concerns about Mr. Osten’s history as a financial advisor with Edward Jones.
At-a-Glance: Donald Clarence Osten Jr. & Edward Jones
| Advisor Name | Donald Clarence Osten Jr. |
|---|---|
| CRD Number | 3084914 |
| Most Recent Broker-Dealer | Edward Jones (Monticello, IN) |
| Registered with FINRA? | No (as of June 2025) |
| Active Broker Dates | 08/1998 – 05/2025 |
Overview
Donald Clarence Osten Jr. was a registered financial advisor with Edward Jones in Monticello, Indiana, until mid-2025. As of the most recent update, he is not registered with any FINRA member firm. During a long career exceeding 25 years, Mr. Osten’s public records show a relatively limited number of public complaints and regulatory actions, but a recent settlement – and previous customer complaint – have prompted significant interest and questions.
Detailed Complaints & Customer Disputes: What Investors Need to Know
- 2019 Customer Dispute (Allegation: Unsuitable Recommendations)
- Date Filed: January 2019
- Core Allegation: The customer alleged that Mr. Osten made unsuitable investment recommendations.
- Alleged Damages: $4,000
- Outcome: Dispute was closed in November 2019, with no payment made by Mr. Osten and no finding of wrongdoing.
- 2023–2024 FINRA Arbitration (Online Scam Transfers)
- Date Filed: March 2023 (Case No. 23-00739)
- Summary: An Edward Jones customer alleged that between 2019–2021, the firm and broker failed to safeguard the client’s account, allowing repeated wire transfers to an online scammer.
- Key Allegations:
- Failure to supervise and protect customer accounts
- Failure to recognize red flags with suspicious disbursements
- Permitting multiple transfers of client funds to an online fraudster
- Resolution: The matter was settled in August 2024 for $125,000 (highest known payout related to Mr. Osten’s record)
No additional customer complaints, arbitration settlements, or regulatory actions are currently on record for Mr. Osten according to the latest available public sources.
Regulatory and Disciplinary History
- FINRA BrokerCheck: No disciplinary actions, suspensions, or fines imposed.
- SEC or State Actions: None disclosed.
- Civil Litigation & Criminal History: No known civil lawsuits (with the exception of the customer disputes above), bankruptcy filings, or criminal actions in public databases.
- Media & Press: No media reports, press investigations, or investigatory alerts linked to Mr. Osten.
Summary Table: Donald Clarence Osten Jr. Advisory Record
| Incident/Type | Details |
|---|---|
| Unsuitable Recommendation Dispute (2019) | Denied; $4,000 in alleged damages; No payment, no finding of fault |
| FINRA Arbitration/Online Scam Losses (2023–2024) | Claimant alleged failure to supervise, resulting in multiple transfers to an online scammer; $125,000 settlement |
| Regulatory/Disciplinary Actions | No findings by FINRA, SEC, or state authorities |
To review the most current public regulatory information, visit FINRA BrokerCheck.
Key Takeaways for Clients and Investors
- Mr. Osten was involved in a recent high-dollar settlement related to allegations of failing to stop or identify suspicious transfers from a client’s account.
- There are no regulatory or criminal actions found against him to date.
- Only one prior customer arbitration dispute was reported, which resulted in no payment and no findings of wrongdoing.
- No negative media coverage, whistleblower events, or civil litigation outside the matters listed above.
Red Flags and Risk Factors for Investors
- Supervision Allegations: The $125,000 settlement in 2024 underscores the importance of strong oversight by brokers and firms when clients are making unusual or potentially unsafe disbursements.
- Repeated Disbursements: Allowing a client to transfer funds repeatedly to an online scammer is a significant warning sign regarding account monitoring and “know your customer” procedures.
- Unaddressed Customer Vulnerability: Failure to intervene or escalate red flags can result in client losses – and future liability for advisors and firms.
If you believe you lost money as a result of advice or account handling by Donald Clarence Osten Jr. or any advisor at Edward Jones, you may be eligible to pursue recovery of your losses through FINRA arbitration with the assistance of experienced securities attorneys.
Get a Free, Confidential Consultation with Haselkorn & Thibaut
Wherever you are in the U.S., if you have concerns about your investments – particularly if your advisor failed to protect you from scams or allowed questionable account activity – experience matters.
- No recovery, no fee – all cases are handled on a contingency basis.
- 98%+ success rate, millions recovered for clients nationwide.
- Unbiased, no-cost consultation available now – completely confidential.
Take control of your financial well-being: Call Haselkorn & Thibaut at 1-888-994-8066 today for a free evaluation of your case. Our team is here to help you understand your options and to fight for the recovery you deserve!
