Vaughn Lee Andrews-McKay of Shelton Connecticut a stockbroker formerly employed by Pruco Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on consenting to findings that Andrews-McKay converted a customer’s funds. Letter of Acceptance Waiver and Consent No. 2018058343001 (May 8, 2018).
According to the AWC, in January of 2017, a total of $29,648.19 had been converted by Andrews-McKay from customers RK and PM. Apparently, false pretenses had been used by Andrews-McKay to persuade RK and PM to provide Andrews-McKay with the necessary funds to satisfy their financial obligations. The customers reportedly wrote personal checks out to Andrews-McKay, but unbeknownst to those customers, Andrews-McKay deposited the funds in his own bank account for his personal benefit rather than for purposes of resolving RK’s and PM’s financial matters.
The AWC further detailed that between July of 2017 and October of 2017, a total of $18,100.00 in additional funds had been procured by Andrews-McKay from PM. Andrews-McKay purportedly tapped PM’s checking account without PM ever having been apprised or consented to Andrews-McKay’s activities. Those funds were reportedly placed in Andrews-McKay’s bank account to be utilized for himself. FINRA concluded that Andrews-McKay’s conduct was violative of FINRA Rules 2010 and 2150(a).
FINRA Public Disclosure reveals that Pruco Securities LLC terminated Andrews-McKay on April 12, 2018 based upon allegations that funds had been misappropriated from two of the firm’s customers by Andrews-McKay; a customer’s signature had been forged on several checks that Andrews-McKay procured; and outside business activities were not disclosed by him as required by the firm’s policy.
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