ANDREW J EGBER Barred by FINRA

ANDREW JOSEPH EGBER (ANDREW J EGBER, ANDY EGBER) was permanently barred by FINRA on 4/26/2024 from acting as a broker or otherwise associating with a broker/dealer firm.

Without admitting or denying FINRA’s findings, ANDREW J EGBER consented to the sanction and to the entry of findings that he allegedly refused to produce information and documents requested by FINRA in connection with its investigation of allegations made on an amended Form U5 filed by his member firm.

FINRA’s findings stated that the firm was reviewing allegations of possible theft of client funds by Egber. The findings also stated that ANDREW J EGBER refused to appear for on-the-record testimony requested by FINRA.

There is another Regulatory disclosure dated 11/26/2024 filed against ANDREW J EGBER initiated by the state of Maryland, permanently barring Egber, sanctioning him with a “Cease and Desist,” Fining Egber $500,000.00, and a Revocation. The Regulatory states in part, “Respondent, in connection with the offer, sale or purchase of securities, employed a device, scheme, or artifice to defraud, made untrue statements of material fact or omitted to state material facts, and engaged in a course of business that operated or would operate as a fraud or deceit on a person, in violation of sections 11-301(1), (2) and (3) of the Securities Act by, among other things, recommending that his brokerage and advisory customers invest in a purported California real estate investment that was not approved or authorized by Egber's affiliated firms; falsely telling the customers that the California investment paid an annual interest or dividend of between 5 and 10%; failing to provide the customers with any other disclosures related to the investment(s), written or otherwise, including the risks associated with the investment(s); failing to tell the customers that the purported California investment opportunity was not registered with the Division or exempted or preempted from the registration requirements; failing to tell the customers that the California investment opportunity was a sham; and misappropriating investor funds and using them for his personal benefit.”

According to FINRA’s BrokerCheck, available to the public on FINRA’s website, ANDREW J EGBER was registered both as a broker and investment advisor, and was in the securities industry for 35 years. Egber was listed with 5 firms. 

ANDREW J EGBER was with RAYMOND JAMES FINANCIAL SERVICES INC of Bethesda, Maryland, from 01/12/2018 - 05/27/2022 and most recently, STEWARD PARTNERS INVESTMENT SOLUTIONS LLC of Bethesda, Maryland, from 05/27/2022 - 04/18/2024.

BrokerCheck lists 8 disclosures on Egbar’s FINRA CRD report, 2 are “Regulatory” disclosures barring him from the securities industry, 3 are “Financial” disclosures, and 3 are “Customer Disputes.” There is a settled “Customer Dispute” dated 2/15/2024, with allegations of, “Customers complained that they made an outside investment through the Financial Advisor and would like to be made whole on funds that were not returned.” This dispute settled for $98,736.00.  There is also one dispute pending and one was denied.

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