Tag: broker misappropriating funds

Former Huntington Bank Broker of Columbus Ohio Barred by FINRA for Misappropriation of Client Funds

Posted by finralawyer on with 0 Comment

According to FINRA’s Disciplinary and Other FINRA Actions publication, Bryan A. Carnahan (CRD No. 3103811), a former broker with Huntington Bank in Hilliard, Ohio, was barred by FINRA for misappropriation of funds from a Huntington customer. FINRA alleged that between September 2013 and March 2015, Carnahan converted approximately $169,500 from one of his customers by causing fund transfers to be made on five occasions from the customer’s brokerage account to her bank account at the Firm’s affiliated bank. FINRA further alleged that Carnahan then had his client withdraw funds from her bank account and get cashier’s checks for supposed investments. FINRA alleged that after Carnahan took possession of the cashier’s checks, he fraudulently caused them to be re-issued in the form of multiple cashier’s checks, totaling approximately $169,500, that were payable to his own accounts and to the accounts of at least 13 of his other customers who had suffered investment losses. (See FINRA AWC No. 2015044908301)

According to FINRA’s Broker Check, Bryan A. Carnahan was permanently barred by FINRA from acting as a broker or otherwise associating with firms that sell securities to the public. Carnahan was registered in the securities industry for sixteen (16) years with the following firm(s):

THE HUNTINGTON INVESTMENT COMPANY
CRD #16986
COLUMBUS, OH
02/1999 – 03/2015

JOHN HANCOCK DISTRIBUTORS, INC.
CRD #486
BOSTON, MA
08/1998 – 12/1998

If you have suffered financial 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 represents investors nationwide and is dedicated to helping investors who have been victims of securities fraud. If you have been a victim of securities fraud, you may be entitled to recover your investment losses. Contact the Hanley Law toll free at (239) 649-0050 for a complimentary initial consultation.

Hollywood Florida Broker Alejandro Torres Barred for Alleged Conversion of Client’s Funds

Posted by finralawyer on with 0 Comment

According to FINRA’s Disciplinary and Other FINRA Actions publication, Alejandro Ariel Torres (CRD #5631211) was barred by FINRA for converting at least $59,600 from a customer and engaging in outside business activities without seeking or obtaining his brokerage firm’s approval.

FINRA  alleged the customer, a 64-year-old widow, gave Torres a check for $75,000 for the purported purpose of partnering with Torres in a start-up venture known as Towers Investments, LLC, in which both the customer and Torres owned fifty percent.  FINRA alleged that Torres did not use at least $59,600 of the funds given by the customer for business related purposes, but rather used the funds to pay for his personal expenses.  FINRA further alleged that Torres concealed his misconduct by having the bank statements sent to him personally, rather than the customer.

FINRA further alleges that Torres failed to respond to FINRA’s requests for documents, information, and testimony. (See FINRA AWC No. 2014041282601)

According to FINRA’s Broker Check, Alejandro Torres has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public.  Torres was registered in the securities industry for five (5) years with the following firm(s):

GLOBAL STRATEGIC INVESTMENTS, LLC

CRD #117028

MIAMI, FL

01/2014 – 07/2014

 

WELLS FARGO ADVISORS, LLC

CRD #19616

HOLLYWOOD, FL

01/2013 – 01/2014

 

BB&T INVESTMENT SERVICES, INC.

CRD #33856

AVENTURA, FL

02/2010 – 01/2013

 

STATETRUST INVESTMENTS INC.

CRD #104651

MIAMI, FL

11/2009 – 02/2010

 

EDWARD JONES

CRD #250

DAVIE, FL

03/2009 – 11/2009

 

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.

Broker Tricia Willis Barred for Allegedly Misappropriating Client’s Funds and Forging Signatures

Posted by finralawyer on with 0 Comment

According to FINRA’s Disciplinary and Other FINRA Actions publication, former Connecticut broker Tricia Denise Willis aka Tricia Denis Liparelli (CRD No.5703572) was barred by FINRA for allegedly converting a client’s funds from a home equity line of credit (HELOC) that the customer maintained at People’s Bank, and for signing the client’s name on withdrawal slips without authorization.

FINRA alleged that Willis withdrew $2,500 from the customer’s HELOC by preparing four (4) withdrawal slips, signing the customer’s name on the slips, and processing them at Willis’ own teller window at the Bank. FINRA alleged that Willis withdrew an additional $17,400 from the client’s HELOC by preparing twenty eight (28) additional withdrawal slips without authorization, and used those funds for her own personal use and benefit. (See FINRA AWC No. 20130392989)

According to FINRA’s Broker Check, Tricia Denise Willis has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. Willis was registered in the securities industry for three (3) years, and was registered with the following firm(s):

PEOPLE’S SECURITIES, INC.
CRD #13704
WILLIMANTIC, CT
01/2010 – 12/2013

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.

Former Huntington Bank Broker of Columbus Ohio Barred by FINRA for Misappropriation of Client Funds

Posted by finralawyer on with 0 Comment

According to FINRA’s Disciplinary and Other FINRA Actions publication, Bryan A. Carnahan (CRD No. 3103811), a former broker with Huntington Bank in Hilliard, Ohio, was barred by FINRA for misappropriation of funds from a Huntington customer.

FINRA alleged that between September 2013 and March 2015, Carnahan converted approximately $169,500 from one of his customers by causing fund transfers to be made on five occasions from the customer’s brokerage account to her bank account at the Firm’s affiliated bank. FINRA further alleged that Carnahan then had his client withdraw funds from her bank account and get cashier’s checks for supposed investments. FINRA alleged that after Carnahan took possession of the cashier’s checks, he fraudulently caused them to be re-issued in the form of multiple cashier’s checks (totaling approximately $169.500) that were payable to his own accounts and to the accounts of at least 13 of his other customers who had suffered investment losses. (See FINRA AWC No. 2015044908301)

According to FINRA’s Broker Check, Bryan A. Carnahan was permanently barred by FINRA from acting as a broker or otherwise associating with firms that sell securities to the public. Carnahan was registered in the securities industry for sixteen (16) years with the following firm(s):

THE HUNTINGTON INVESTMENT COMPANY
CRD #16986
COLUMBUS, OH
02/1999 – 03/2015

JOHN HANCOCK DISTRIBUTORS, INC.
CRD #486
BOSTON, MA
08/1998 – 12/1998

If you have suffered financial 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 represents investors nationwide and is dedicated to helping investors who have been victims of securities fraud. If you have been a victim of securities fraud, you may be entitled to recover your investment losses. Contact the Hanley Law toll free at (239) 649-0050 for a complimentary initial consultation.