Devin Lamarr Wicker of New York New York the majority owner, Chief Executive Officer and Chief Compliance Officer of Bonwick Capital Partners LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Extended Hearing Panel Decision containing findings that Wicker converted a customer’s funds. Department of Enforcement v. Devin Lamarr Wicker Disciplinary Proceeding No. 2016052104101 (Mar. 21, 2019).
According to the Decision, Wicker reportedly converted $50,000.00 in funds belonging to an investment banking customer, ADM. Apparently, Wicker admitted that the firm had received ADM’s funds for the underwriting of an initial public offering. However, Wicker never utilized the customer’s funds for their stated purposes. Critically, the customer never received repayment of the $50,000.00 from Bonwick Capital Partners.
Apparently, Wicker knew that he lacked authorization to utilize ADM’s funds for any purpose other than paying a retainer for underwriting counsel services. Nevertheless, Wicker mixed the customer’s funds in with the firm’s accounts and applied them for the firm’s benefit instead of the customer’s.
Wicker reportedly claimed that the funds were not converted by him, but instead stolen by an investment banker of the firm. Yet, the Extended Hearing Panel concluded that Wicker inappropriately utilized and converted the customer’s funds so that Wicker could pay for the firm’s expenses. Consequently, FINRA found that Wicker’s conduct was violative of FINRA Rules 2010 and 2150(a).
Wicker’s registration with Bonwick Capital Partners LLC has been terminated as of December 22, 2016. Wicker was subsequently employed by Tribal Capital Markets, LLC; however, he was discharged by May 30, 2017 supported by Tribal Capital Markets’ allegations that Wicker obstructed the firm’s internal investigation into him, and neglected to make available documentation evidencing his activities. Wicker then became associated with J.V.B. Financial Group LLC on November 30, 2017. However, that firm terminated Wicker on August 22, 2018 founded on allegations that Wicker violated securities rules, regulations or statutes.
