Dartanian VJ Sanders, of Metairie, Louisiana, a stockbroker formerly registered with PFS Investment Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member by consenting to findings that he failed to cooperate in a FINRA investigation into allegations that Sanders entered into improper lending arrangements with the firm’s customers. Letter of Acceptance, Waiver and Consent, No. 2016052554301 (July 5, 2017).
According to the AWC, Sanders was fired by PFS Investments Inc. on January 20, 2017, based upon allegations that he engaged in unapproved loan transactions effectuated through promissory notes. The AWC stated that FINRA then launched an investigation into Sanders’ wrongdoing, and asked Sanders to testify about his business activities on August 29, 2017.
During Sanders’ testimony before FINRA personnel, Sanders indicated that he created and managed a company while working with PFS Investments Inc., where as part of that outside business activity, he accumulated $100,000.00 in funds through four loan arrangements. Yet, Sanders elected not to answer FINRA’s questions relating to monetary transactions, declining to inform FINRA of how the proceeds from a loan were used by him. FINRA found Sanders’ failure to respond to be conduct violative of FINRA Rules 2010 and 8210.
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