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, July, 2013.”
Janet Louise Frakes (CRD #3120413, Registered Representative, Independence, Kentucky)
was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Frakes consented to the described sanction and to the entry of findings that she misappropriated more than $100,000 from an elderly customer’s account and $16,000 from another elderly customer’s account at a bank.
FINRA's findings stated that Frakes perpetrated the misappropriation of the customers’ money partially by means of submitting bogus withdrawal slips. Frakes signed a customer’s withdrawal slips as POA or POA on file; however, the bank had no record of a POA on file for the account.
Also, FINRA's findings stated that FINRA sent Frakes a request for, among other things, a signed statement responding to the misappropriation allegations. Frakes’ attorney sent a letter to FINRA refusing to provide a written statement. (FINRA Case #2012033857101)
Listed on FINRA's BrokerCheck, this broker was previously registered with FINRA at the following brokerage firms:
FIFTH THIRD SECURITIES, INC.
CRD# 628
BELLEVUE, KY
12/2003 - 09/2012
THE HUNTINGTON INVESTMENT COMPANY
CRD# 16986
COLUMBUS, OH
11/1998 - 04/2003
This ends the information obtained on FINRA’s website.
If you’ve experienced investment losses due to your stock broker/financial adviser’s recommendations, call Soreide Law Group for a free consultation with an attorney on how to potentially recover your losses: 888-760-6552.
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