Broker Barred by FINRA for Alleged Misappropriation of Funds

Soreide Law Group, a Securities Arbitration Law Firm, (888) 760-6552, obtained the following information on FINRA’s website under “Disciplinary and Other FINRA Actions, July, 2013.”

Tiara Monique Jones (CRD #5366042, Registered Representative, Dolton, Illinois)

was barred from association with any FINRA member in any capacity. The sanction was based on findings that Jones misappropriated funds from customers by withdrawing $1,000 from their joint bank checking account without their knowledge and consent.

FINRA's findings stated that Jones assisted the bank customers, a husband and wife, with the purchase of a $50,000 fixed annuity at the bank branch where she worked. At Jones’ direction, the customers each signed separate blank withdrawal slips from their joint bank checking account. Jones filled in the date, customer name, amount and account number on the withdrawal slip the husband had signed, and then used the slip to process the annuity transaction. Jones also filled in the date, customer name and account number on the withdrawal slip the wife had signed, and then filled in a withdrawal amount of $1,000. The next day, Jones’ branch manager informed her that the customers had complained to the bank about the unauthorized withdrawal of $1,000. Jones then created a deposit slip in the husband’s name and deposited $1,000 into the customers’ joint bank account.

The findings also stated that Jones willfully failed to disclose material information on her Form U4 to report unsatisfied judgments and a bankruptcy petition. The findings also included that Jones failed to appear and testify at on-the-record interviews despite being properly served.

(FINRA Case #2011029429001)

According to FINRA's BrokerCheck, Tiara Jones was previously registered with FINRA at the following brokerage firms:

CHASE INVESTMENT SERVICES CORP.
CRD# 25574
GLENWOOD, IL
09/2009 - 09/2011

CHASE INVESTMENT SERVICES CORP.
CRD# 25574
DYER, IN
05/2008 - 08/2009

EDWARD JONES
CRD# 250
CHICAGO, IL
08/2007 - 03/2008

This ends the information obtained on FINRA’s website.

If you’ve experienced investment losses due to your stock broker/financial advisor’s recommendations, call Soreide Law Group for a free consultation with an attorney on how to potentially recover your losses: 888-760-6552.