Jefferey William Dyra of Naperville Illinois a stockbroker formerly associated with Bankers Life Securities Inc. has been referenced in a customer initiated investment related written complaint on November 21, 2019 in which the customer requested $47,000.00 in damages supported by allegations that unauthorized transactions were facilitated in the customer’s account. The complaint alleges that the customer’s Apple stock had been unlawfully sold by Dyra.
This is not the first time that Dyra has been accused of misconduct by an investor. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on December 6, 2019, a customer initiated investment related complaint involving Dyra’s conduct was settled for $54,078.41 in damages based upon allegations that the customer’s funds had been misappropriated and that a fraud had been committed by the stockbroker. According to the complaint, the customer had been instructed by Dyra to write out checks to him for equity-indexed annuities purchases but the customer’s funds had not been used by Dyra for those purposes.
Dyra has been barred from associating with any FINRA member in any capacity based upon consenting to findings that he hindered a FINRA investigation into accusations of his misappropriation of customer funds and his violations of both FINRA rules and securities laws while associated with Bankers Life Securities. Letter of Acceptance Waiver and Consent No. 2019063228001 (Oct. 29, 2019). According to the AWC, information and documentation had been requested from Dyra by the regulator concerning its investigation into his activities. FINRA was told by Dyra’s legal counsel that Dyra would not be handing anything over. The AWC stated that Dyra violated FINRA Rules 2010 and 8210 in this respect.
FINRA Public Disclosure confirms that on June 20, 2019 , Dyra was discharged by Bankers Life Securities founded on a customer’s complaint that alleged fraud and misappropriation which resulted in the customer’s losses.