Valerie Helen Silverstein (CRD #1413711, Registered Representative,
Coconut Creek, Florida)
was barred from association with any FINRA member in any capacity. Without
admitting or denying FINRA’s findings, Silverstein consented to the described sanction and to the entry of findings that she had a pre-existing relationship with an individual when he became a customer of her member firm.
Silverstein, in an effort to advance a fraudulent scheme to misappropriate funds from the firm, created a false deposit receipt indicating that the customer had deposited a check for $7.8 million into his firm account when he had not.
FINRA’s findings stated that Silverstein also sent letters on her firm’s letterhead, and one email from her firm’s email account, to the customer making various false and misleading statements about the deposit and withdrawal of funds.
According to FINRA’s findings the firm closed the account when the customer attempted to make withdrawals from the account using a debit card, despite never funding the account, and the firm discovered he had a criminal past.
FINRA’s findings also included on several occasions the customer used the documents Silverstein created.
(FINRA Case #2011026509201)
This information was on FINRA’s website under “Disciplinary and Other FINRA Actions, July, 2012.”
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