Gary Harpe Barred by FINRA Following Regulatory Investigation

Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Gary Francis Harpe [CRD: 2983634, Farmington Hills, Michigan]. Harpe worked for PFS Investments Inc. from February 1998 to January 2023 before being barred by FINRA.

Recent disclosures raise concerns regarding Harpe’s professional conduct, leading to regulatory action and criminal allegations.

Regulatory Actions and Sanctions Over Alleged Conversion

On April 26, 2024, FINRA initiated a regulatory complaint against Harpe, alleging that he failed to provide requested documents and information related to his termination from PFS Investments Inc. FINRA’s investigation focused on a felony charge for larceny by conversion and whether Harpe failed to disclose judgments, liens, or creditor compromises as required.

Sanctions and Penalties Against Gary Harpe for Failure to Cooperate

On October 7, 2024, FINRA issued a permanent bar against Harpe, prohibiting him from associating with any FINRA member firm in any capacity. The decision became final after a default judgment was issued on September 12, 2024, when Harpe failed to respond to FINRA’s investigation and requests.

According to FINRA, Harpe’s failure to comply significantly impeded their investigation. The regulatory body deemed the requested information necessary in determining potential violations of federal securities laws or FINRA rules.

Criminal Allegations

On February 1, 2022, Harpe was formally charged with larceny by conversion ($1,000 or more but less than $20,000) in the 47th District Court, Farmington Hills, Michigan (Case No. 2021-21H88694-FY). The charge remains pending, and Harpe has pleaded not guilty.

Employment Termination

On January 10, 2023, PFS Investments Inc. terminated Harpe’s employment. The firm disclosed that the termination was due to a criminal disclosure involving the pending felony charge. Following his termination, FINRA launched an investigation, resulting in the permanent bar.

Contact Soreide Law About Gary Harpe Today

Looking for more information about Gary Harpe? If so, reach out to Soreide Law Group online or call (888) 760-6552 to speak with a securities lawyer. The team at Soreide Law Group works on a contingency basis, advances all costs, and assists clients throughout the country with recovering losses from sales practice misconduct. Harpe and the firms he worked for deny accusations of sales practice violations.