Mark Andrew Cramer of LaRue Ohio a stockbroker currently registered with MML Investors Services LLC (formerly known as MSI Financial Services LLC) has been fined $5,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings of customer’s signatures having been forged by Cramer to effect unauthorized transactions. Letter of Acceptance Waiver and Consent No. 2018058482401 (Oct. 14, 2019).
According to the AWC, in February of 2017, during the time that Cramer was associated with MSI Financial Services, he and a customer met regarding the establishment of an individual retirement account and variable annuity for the customer. Following this meeting, the customer’s signature had been forged by Cramer on documents, and those unauthentic documents were submitted by Cramer to MSI Investors Services to effect the transactions. FINRA found Cramer’s conduct in this respect to be violative of FINRA Rules 2010. The AWC also stated that the records and books of the securities broker dealer contained inaccuracies given Cramer’s forging of the customer’s signature on the documents; conduct violative of FINRA Rules 4511 and 2010.
FINRA Public Disclosure reveals that Cramer has been identified in two additional customer initiated investment related disputes containing allegations of his misconduct while employed with MetLife. Specifically, Cramer is the subject of a customer initiated investment related written complaint in which the customer sought $76,748.00 in damages based upon allegations that the customer was placed into investments that failed to be suitable.
On June 11, 2018, another customer initiated investment related complaint involving Cramer’s conduct was settled for $456,990.00 in damages supporting by accusations that when Cramer was associated with MSI Financial Services, the customer’s documents had been forged by the stockbroker and then submitted to the insurance carrier to effect a variable annuity purchase; and that false or misleading statements had been made to the customer by Cramer about investments sold to the customer.
