March 20, 2013

Sarasota, FL, Rep Fined and Suspended by FINRA For Borrowing Money From Client

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.

Call Soreide Law Group for a free consultation with an attorney on how to potentially recover your financial losses at 888-760-6552.

S H A R E   T H I S   P O S T

Recent Posts

February 18, 2025
CONCORDE INVESTMENTS SERVICES and Bart Harrison

Soreide Law Group, based in South Florida, has filed a FINRA arbitration on behalf of their client (Claimant) against: CONCORDE INVESTMENTS SERVICES, LLC. (Respondent) The Claimant resides in Southwest Florida and maintained a relationship with CONCORDE INVESTMENTS SERVICES and its Financial Advisor, Bart Harrison. The lawsuit alleges that CONCORDE INVESTMENTS SERVICES and Bart Harrison understood […]

February 18, 2025
John Christoforidis Barred by FINRA Following Investigation

Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker John Christoforidis (CRD: 2841315, Garden City, New York). Christoforidis previously worked for multiple brokerage firms, including Spartan Capital Securities LLC from 2016 to 2024. Recent regulatory actions disclose that FINRA has barred Christoforidis from the securities industry following his refusal to provide on-the-record testimony […]

February 18, 2025
Joel Freedman Faces Allegations of Unauthorized Trading

Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Joel Randy Freedman (CRD#: 1260557, Radnor, Pennsylvania). Freedman has been employed in the securities industry for 40 years and has worked with several firms, including Morgan Stanley (2009-2024). As of April 2024, he is registered with Sanctuary Securities Inc. and Sanctuary Advisors LLC in […]

Contact us Nationwide USA
2401 E. Atlantic Blvd., Suite 305, Pompano Beach, FL 33062
Helping clients recover money across the USA
search
Copyright © 2022 Soreide Law Group, PLLC  |  All Rights Reserved