Ft. Lauderdale Florida Broker Sylvester King Suspended and Fined by FINRA for Concealing Customer Loans

According to FINRA’s Disciplinary and Other FINRA Actions publication, Sylvester King Jr. (CRD #4011622) of Miramar, Florida, was suspended for eighteen (18) months and fined $35,000 for allegedly helping another broker conceal hundreds of thousands of dollars in customer loans. FINRA alleged that from the period of July 2009 through November 2012 while registered with Morgan Stanley and then later Wells Fargo Advisors, King circumvented Wells Fargo’s policies and procedures by allegedly helping another registered representative conceal approximately $399,500 in loans of three (3) clients who were professional athletes in the NFL and NBA, loaned $25,000 to a firm customer without permission from his firm, participated in a private securities transactions that were undisclosed, and provided false information to Morgan Stanley on two separate questionnaires. (See FINRA AWC No. 2013036262101)

According to FINRA’s Broker Check, Sylvester King Jr. is not currently licensed to act as a broker or as an investment adviser. King was registered in the securities industry for fifteen years (15), and was registered with the following firm(s):

WELLS FARGO ADVISORS, LLC
CRD # 19616
FORT LAUDERDALE, FL
10/2011 – 05/2015

MORGAN STANLEY SMITH BARNEY
CRD #149777
FORT LAUDERDALE, FL
11/2006 – 06/2009

CITIGROUP GLOBAL MARKETS INC.
CRD #7059
FORT LAUDERDALE, FL
11/2006 – 06/2009

BANC OF AMERICA INVESTMENT SERVICES, INC.
CRD #16361
FORT LAUDERDALE, FL
10/1999 – 11/2006

If you have suffered investment losses as a result of your broker’s or brokerage firm’s misconduct, contact the Hanley Law to discuss your legal options. The Hanley Law is dedicated to helping investors nationwide. If you have lost money as a result of your broker’s recommendations, you may be entitled to recover your investment losses. Contact our office toll free at (239) 649-0050 for a complimentary initial consultation.

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