Najib Hossain Khan of Richmond Hill New York a stockbroker formerly registered with Citigroup Global Markets Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Khan neglected to cooperate with FINRA personnel during the period that he was investigated for theft of customer funds. Letter of Acceptance Waiver and Consent No. 2019062973402 (Dec. 18, 2020).
According to the AWC, FINRA was made aware from Citigroup on June 20, 2019 that it terminated Khan’s registration with the securities broker dealer based upon allegations of Khan playing a part in the possible theft of a customer’s bank account assets. Citigroup noted that Khan accessed customers’ bank accounts when he was not the relationship manager and that fraudulent withdrawals were taken from those accounts.
A FINRA investigation into Khan’s activities ensued on June 20, 2019. Khan cooperated at first but stopped in November of 2020. FINRA indicated that on September 10, 2020, Khan was asked to provide information and documents in response to the accusations made against him by his employer. Khan was supposed to provide information to FINRA on October 1, 2020 but he failed to fully comply.
Khan was asked for additional information on November 5, 2020. That request detailed what Khan had not provided in response to FINRA’s first request. The stockbroker was even provided an extension until November 25, 2020 to comply. Khan never supplemented his initial response. FINRA determined that Khan’s conduct was violative of FINRA Rules 2010 and 8210.
Khan was associated with Citigroup Global Markets between May 31, 2017 and June 14, 2019.
