The Soreide Law Group, (888) 760-6552, obtained the following summation of FINRA's report from FINRA’s website under “Disciplinary and Other FINRA Actions, February, 2014.”
Tracy Philander Holloway (CRD #5777595, Registered Representative, Winterville, North Carolina)
was barred by FINRA for allegedly opening an insurance agency and filing fraudulent claims under the policies held by his clients. Allegedly, he would issue a check from his company’s account payable to the client. Holloway would then deposit the check into his agency’s bank account and retained the proceeds amounting to a total of approximately $50,947.56.
An investigation began after a customer inquired about a claim that had been filed under his policy. Holloway, when confronted by the insurance company, admitted submitting the fraudulent claim, and submitting others and keeping the proceeds for himself.
(FINRA Case #2013035820601)
Tracy Philander Holloway was previously registered with the following FINRA firm(s):
STATE FARM VP MANAGEMENT CORP. (CRD# 43036) - BLOOMINGTON, IL
06/2010 - 02/2013
This ends the summation from FINRA's website.
If you have become victims of insurance fraud, contact an insurance fraud attorney for a free consultation on how to recover your investment losses at 888-760-6552.
Soreide Law Group, PLLC, represents Insurance Fraud Victims in Federal Court, State Court and before the Financial Industry Regulatory Authority (“FINRA”).
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