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, June, 2013.”
Ronald Wayne Nichter (CRD #3127417, Registered Principal, Greenfield, Indiana)
was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Nichter consented to the described sanction and to the entry of findings that he misappropriated approximately $140,000 from customers.
FINRA's findings stated that in order to carry out the misappropriations, Nichter forged the clients’ signatures on Letters of Authorization that instructed his member firm’s clearing firm to issue checks made payable to the customers. Nichter then intercepted the checks, endorsed them, deposited them into his personal account, and utilized the funds for his personal use without the customers’ knowledge and consent.
(FINRA Case #2013036619401)
According to FINRA's BrokerCheck, Ronald Nichter was previously registered with FINRA at the following brokerage firms:
CANTELLA & CO., INC.
CRD# 13905
PENDLETON, IN
02/2006 - 04/2013
A. G. EDWARDS & SONS, INC.
CRD# 4
ST. LOUIS, MO
11/2004 - 02/2006
EDWARD JONES
CRD# 250
ST. LOUIS, MO
12/1998 - 11/2004
This ends the information obtained on FINRA’s website.
If you've suffered 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 those losses: 888-760-6552.
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