The Financial Industry Regulatory Authority Inc. has barred David Austin, a former broker with J.P. Morgan, for misappropriating $144,000 from three customers.
Austin, who was fired by the bank in May, forged withdrawal slips for three bank customers, two of whom were over 90 years old, and made unauthorized cash withdrawals from their accounts, which he kept for his personal use.
He also transferred funds from the joint bank account of two of these customers to his personal bank account without authorization. The thefts took place from January 2019 through March 2020.
Austin had worked for the bank in Grand Rapids, Mich., since 2016.
Trump briefly floated the idea this week, and he's far from the first to do so, but does the US really need a national fund?
Over the first six months of one targeted initiative, the agency scooped $172M from 21,000 wealthy individuals who've been delinquent on their tax filings since 2017.
Wealth managers rejoice. Stocks may be sliding, but the NFL season is starting.
The SEC and justice department are probing whether the firm, a subsidiary of Franklin Templeton, cherry-picked trades to favor certain clients.
Firm agrees to pay six-figure penalty for its lack of compliance with anti-money laundering programs.
Uncover the key initiatives behind Destiny Wealth Partners’ success and how it became one of the fastest growing fee-only RIAs.
Morningstar’s Joe Agostinelli highlights strategies for advisors to deepen client engagement and drive success
