Tag: insurance fraud attorney

Michigan Representative Fined and Suspended by FINRA over Unlicensed Insurance Sales and Misappropriation

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According to FINRA’s Disciplinary and Other FINRA Actions publication, Brian Kenneth Edwards (CRD #6011762) was fined $5,000 and suspended by FINRA for fourteen (14) months for violating Michigan law and his member firm policies by allegedly permitting his insurance agency to enter into a client referral relationship with an individual who was not licensed to sell insurance. FINRA further alleged that Edwards created circumstances which allowed the unlicensed individual to misappropriate over $6,900 in funds from customers that were intended to pay insurance premiums. Despite discovering such misconduct, FINRA alleged that Edwards failed to report the misconduct to the insurance affiliate, and did not terminate his agency’s relationship with the individual until one (1) month later. (See FINRA AWC No. 2013037999901)

According to FINRA’s Broker Check, Brian Kenneth Edwards is not currently licensed to act as a broker or as an investment adviser. Edwards has been registered in the securities industry for one (1) year with the following firm(s):

STATE FARM VP MANAGEMENT CORP.
CRD #43046
BLOOMINGTON, IL
01/2012 – 08/2013

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.

FINRA Takes Action Against Broker Brian Michael Seifert for Allegedly Forging Insurance Documents

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The Hanley Law (239) 649-0050 recently discovered that according to FINRA’s Disciplinary and Other FINRA Actions publication, Brian Michael Seifert (CRD No. 4547658) was barred from associating with any FINRA member after allegedly failing to provide FINRA with on-the-record testimony involving an investigation into allegations that he forged documents and falsified client insurance information.

FINRA alleged that while Seifert was employed with Capital Management Company he forged and/or falsified customer information. Following the accusations Seifert failed to appear for on-the-record FINRA interview in violation of FINRA rules. (See FINRA Case No. 2012033920601)

Brian Michael Seifert was an active broker for 7 years with the following member firm(s):

COUNTRY CAPITAL MANAGEMENT COMPANY
CRD # 12060
ROCHESTER, MN
3/2008 – 8/2012

LIBERTY LIFE SECURITIES, LLC
CRD # 47737
EAGAN, MN
1/2007 – 3/2008

EQUITRUST MARKETING SERVICES, LLC
CRD # 5309
WEST DES MOINES, IA
4/2003 – 2/2005

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 who have been victims of securities fraud. If you have lost money as a result of securities fraud, you may be entitled to recover your investment losses. Contact our office toll free at (239) 649-0050 for a free initial consultation.

Illinois Broker Andrew DeVine Barred by FINRA for Misappropriation of Clients Funds

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Andrew James DeVine of Country Capital Investment Company was barred by FINRA for allegedly misappropriating funds from clients. According to FINRA’s Disciplinary and Others FINRA Actions publication, DeVine took advantage of his position as agent of a member firm to use customer funds for his own benefit rather than applying them towards insurance premiums. FINRA alleged that DeVine misappropriated over $700 in customer funds.

Andrew James DeVine was a registered broker for 7 years, and was recently affiliated with the following firms:

COUNTRY CAPITAL INVESTMENT COMPANY
CRD #12060
O’FALLON, IL
03/2009 – 08/2013

NATCITY INVESTMENTS, INC.
CRD #17490
BRENTWOOD, MO
06/2008 – 01/2009

AXA ADVISORS, LLC
CRD #6627
CLAYTON, MO
01/2006 – 06/2008

If you have suffered investment losses, please contact the Hanley Law to explore your legal options. The Hanley Law is dedicated to helping investors who have been victims of securities fraud. If you have lost money as a result of securities fraud, you may be entitled to recover your investment losses. Contact our office toll free at (239) 649-0050 for a complimentary initial consultation.