John A. Chrysadakisof Norwalk Connecticut a stockbroker formerly registered with Northwestern Mutual Investment Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he neglected to cooperate with FINRA while he was investigated for engaging in fraudulent conduct. Letter of Acceptance Waiver and Consent No. 2018060563201 (Jan. 6, 2020).
According to the AWC, in April of 2019, a Uniform Termination Notice of Securities Industry Registration (Form U5) had been submitted to FINRA by Northwestern Mutual. The regulator was told that Chrysadakis was terminated on March 19, 2019 based upon allegations that he, inter alia, engaged in fraudulent activities including submitting unauthorized applications for policies and engaging in forgery of insurance forms; and failed to make required disclosures to the securities broker dealer.
The AWC indicated that in May of 2019, a complaint was filed against Chrysadakis by Fidelity Masonic Temple Association Inc. in which the Association sought compensation based upon allegations that between 2016 and 2019, about $100,000.00 had been stolen or otherwise converted by Chrysadakis when he was designated as the treasurer of the Association.
The AWC stated that on November 8, 2019, a request was sent to Chrysadakis from FINRA personnel for him to turn over documentation and information relating to his activities. Chrysadakis indicated to FINRA that he understood the nature of its requests, but the stockbroker failed to comply. In fact, Chrysadakis stated that he would not provide any documentation or information to the regulator at any point. FINRA determined that Chrysadakis’ noncompliance constituted violations of FINRA Rules 2010 and 8210.
FINRA Public Disclosure additionally reveals that a customer initiated investment related complaint involving Chrysadakis’ conduct was settled to resolve allegations of forged customer signatures on insurance documentation to effect switches of six insurance policies that customers never authorized.
