Paul Warren Vizanko of Duluth, Minnesota, a stockbroker formerly registered with Wells Fargo Clearing Services LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Vizanko failed to respond to FINRA’s request for information regarding the borrowing and misappropriation of customer funds. Case No. 2021069466801 (August 30, 2021).
According to FINRA Public Disclosure, Vizanko was issued a Notice of Suspension on May 26, 2021, and a Suspension from Association letter on June 21, 2021. The regulator provided Vizanko with a limited time to cooperate with its request or otherwise have his suspension terminated. Vizanko was not responsive by the August 29, 2021 deadline.
Vizanko purportedly borrowed funds from one customer, and with respect to another customer, he failed to disclose to the Firm that he had received a cash gifts, misappropriated funds, and was beneficiary of the customer’s Trust.
FINRA Public Disclosure reveals that a customer initiated investment related written complaint concerning Vizanko’s conduct was settled for $88,125.35 in damages supported by accusations of Vizanko’s misuse of the customer’s check during the time that Vizanko was employed by Wells Fargo Advisors. The complaint alleges that Vizanko cashed checks that were meant for the customer between September of 2015 and December of 2020.
Vizanko was associated with Wells Fargo Clearing Services between September 4, 2015, and February 25, 2021. He was discharged by Wells Fargo Clearing Services founded on allegations of him borrowing from one customer and misappropriating funds from another.
