John Albert Westbrook of McDonough, Georgia, a stockbroker formerly registered with Center Street Securities, is referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $80,000.00 in damages based upon accusations of negligence and unsuitable transactions relating to Future Income Payments LLC while Westbrook was associated with Center Street Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-01961 (September 16, 2021).
Westbrook has been fined $5,000.00 and suspended for five months from associating with any FINRA member in any capacity supported by findings of Westbrook’s involvement in private securities transactions during the time that he was employed by Center Street Securities. Letter of Acceptance Waiver and Consent No. 2019064668001 (November 10, 2021).
The AWC states that Westbrook was prohibited by Center Street Securities from selling away or taking part in investors’ outside private transactions. Three individuals had been solicited by Westbrook for Future Income payments LLC securities. They invested a collective $350,335.00 in FIP securities. Westbrook was compensated for his sales. He violated FINRA Rules 2010 and 3280 by selling away from Center Street Securities.
Westbrook was discharged by Center Street Securities on February 10, 2020, supported by allegations of him violating the securities broker dealer’s policy and procedures.
