The following information is from FINRA’s website under “Disciplinary and Other FINRA Actions, March, 2013.”
George Robert Hunt (CRD #2568842, Registered Principal, Sarasota, Florida)
was fined $10,000, suspended from association with any FINRA member in any capacity for one year and ordered to pay $63,500, plus interest, in restitution to a customer. Without admitting or denying the findings, Hunt consented to the described sanctions and to the entry of findings that he borrowed a total of $63,500 from a customer in a series of loans, with a promise to repay the loans at an annual interest rate of 12 percent, and that, to date, he has failed to repay any of the loans or the interest due to the customer. FINRA's findings stated that at the time of the loans from the customer, Hunt was aware of his member firm’s policies and procedures, which prohibited borrowing money from customers. Hunt also represented in annual compliance questionnaires that he had not borrowed any funds from customers.
FINRA's findings also stated that on separate occasions, Hunt recommended that the customer liquidate securities in her firm account and use the proceeds to fund certain of the loans made to him. Hunt did not have a reasonable basis for recommending these transactions.
The suspension is in effect from February 4, 2013, through February 3, 2014.
(FINRA Case #2012031960001)
George Robert Hunt was previously registered with FINRA at the following brokerage firms:
QUEST CAPITAL STRATEGIES, INC.
CRD# 16783
LAKE FOREST, CA
08/2003 - 03/2012
LINSCO/PRIVATE LEDGER CORP.
CRD# 6413
BOSTON, MA
06/2002 - 08/2003
A. G. EDWARDS & SONS, INC.
CRD# 4
ST. LOUIS, MO
01/1995 - 07/2002
This ends the information from the FINRA website.
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