Finra bars former NY Life Securities rep over expense cheating
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Ronald J. Knight received $3,900 in reimbursements to which he was not entitled
The Financial Industry Regulatory Authority Inc. has barred Ronald J. Knight, formerly a broker with NY Life Securities in Timonium, Md., for falsifying 31 expense reports and submitting them to the firm to obtain reimbursement to which he was not entitled.
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He received approximately $3,900 in reimbursement, Finra said. For 12 of these expenses, which totaled approximately $1,100, Mr. Knight requested reimbursement even though he had not personally incurred the expense. The remaining expenses were personal expenses, which he mischaracterized as business expenses.
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These action took place between approximately February 2015 and August 2016, Finra said. Mr. Knight, who left NY Life Securities in 2017, is no longer employed in the securities industry.
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