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January 4, 2015
Former Chicago Broker Barred by FINRA for Alleged Misappropriation of Over $1Million of Clients' Funds

Eric William Johnson (CRD #2142522, Hinsdale, New York) was barred by FINRA for the alleged misappropriation of more than $1 million from at least six firm customers’ brokerage accounts at his member firm. Eric Johnson was register in the securities industry for 23 years. FINRA's findings stated that Johnson made wire transfers of funds from […]

November 24, 2014
Idaho Broker Pleads Guilty in Misappropriation of Over $800,000

JOANN JACKSON (CRD# 2246952) a 63 year-old investment advisor from Coeur d'Alene, Idaho, pled guilty to wire fraud last week in federal court. Allegedly, Jackson misappropriated over $800,000 from her client's account. The alleged victim had placed all of her investment accounts with Jackson. Jackson has worked as a stockbroker since 1994, and had become […]

October 21, 2014
Former Wells Fargo Advisors Orlando Broker Barred by FINRA for Unauthorized Trades in Client's Account

The Fort Lauderdale-based, Soreide Law Group, obtained the following summary of information from FINRA’s website under “Disciplinary and Other FINRA Actions, October, 2014.” Ane S. Plate (CRD #1977401, Deland, Florida) was barred by FINRA for an alleged 15 unauthorized trades in a client’s firm account, resulting in the cash proceeds of $176,080. FINRA's findings stated […]

October 20, 2014
Vero Beach Florida Broker Barred by FINRA for Misappropriation of Client's Funds

The Soreide Law Group, based in Fort Lauderdale (888) 760-6552, obtained the following summary of information from FINRA’s website, under “Disciplinary and Other FINRA Actions, October, 2014.” Arhonda T’Lene Guinn (CRD #4401132, Vero Beach, Florida) was barred by FINRA for allegedly converting $12,100 from a client’s account at her firm for her own use. FINRA's […]

September 15, 2014
Former South Carolina Raymond James Broker Barred by FINRA for Converting over $3 Million in Client Funds

CLAUS C. FOERSTER (CRD# 1912949) was barred by FINRA for allegedly soliciting his clients to invest in a fictitious entity marketed by Foerster as an income-oriented investment, and converting those investments for his own personal use. Foerster converted approximately $3 million from clients. FINRA's findings stated that Claus Foerster allegedly had clients move funds from […]

August 6, 2014
Former Sacramento, California, Ameriprise Financial Advisor Sentenced to Prison for Client Theft of nearly $650,000

On July 31, 2014, former Ameriprise Financial Services financial advisor, Michelle Lee Kern, 36, of Sacramento, CA, was sentenced to 46 months in prison and ordered to pay $642,625 in restitution for financial advisor fraud. Michele Kern was a licensed financial advisor with Ameriprise Financial Services Inc. in Roseville, CA, from 2009 through December 2012, […]

July 29, 2014
David Johnson, Former JP Turner, TX, and Capital Financial Services, Iowa, Broker Held on Four Felony Theft Charges in Iowa

DAVID W. JOHNSON (CRD# 1010443), a 55 year-old former JP Turner broker from Keller, Texas, is facing felony theft charges in Iowa. Johnson is charged with four first degree theft charges, after complaints from residents in Pocahontas, Coon Rapids, Algona and Fort Dodge, Iowa, came to light. According to reports, allegedly Johnson took over $10,000 […]

June 24, 2014
Pennsylvania Broker Barred by FINRA for Misappropriation of Clients' Funds

Christopher Somes Babcock (CRD #5004907, Wayne, Pennsylvania) was barred by FINRA for allegedly receiving approx. $160,000 from his customers after he had his customers wire money from their firm accounts to their personal accounts and then they wired the money to Babcock or wrote a check payable to him. According to the FINRA report, the […]

June 11, 2014
Former Broker Employed by 'Investors Capital' Charged with Wire Fraud

PATRICIA S. MILLER (CRD# 2302464) formerly registered representative with Investors Capital in McMurry, Pennsylvania, a branch of Massachusetts-based Investors Capital Corporation, was arrested and charged with wire fraud. Several of her clients claim she allegedly misappropriated their investments worth hundreds of thousands of dollars. According to the court records, Miller attempted suicide and was slumped […]

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