The following information is from FINRA’s website under “Disciplinary and Other FINRA Actions, January, 2013.”
Kenneth Andrew Mauchin (CRD #2366345, Registered Principal, Sanford, Florida)
was named a respondent in a FINRA complaint alleging that he misappropriated $23,750 from elderly customers’ accounts by converting their funds to cashier’s checks and depositing those checks into a bank account of an entity he controlled.
FINRA’s complaint alleges that Mauchin did so without the customers’ knowledge or authorization. The complaint also alleges that Mauchin prepared a customer’s application for a variable annuity and falsely listed his bank branch office address as the customer’s mailing address, which he knew to be false.
Also, a customer applied for a premiere select IRA brokerage account with Mauchin’s firm and, without the customer’s knowledge or authorization, he falsely listed his bank branch office address as the customer’s mailing address, which he knew to be false. These applications became part of the firm’s books and records, causing his firm’s books and records to be false.
This complaint further alleges that Mauchin failed to appear for FINRA testimony.
(FINRA Case #2011028452701)
This ends the information from FINRA’s website.
Securities Lawyer, Lars K. Soreide, of Soreide Law Group, represents clients nationwide before FINRA. If you or a loved one have sustained investment losses due to your stock broker or financial advisor’s recommendations, call for a free consultation on how to potentially recover your losses. To speak with an attorney call 888-760-6552, or visit our website at: https://www.securitieslawyer.com.