Tag Archives: Misappropriation

AXA Advisors Fined $50K for Failure to Supervise Thieving Broker

April 19, 2012  |   Posted by :   |   Failure To Supervise, Investment and Regulatory News   |   0 Comments

AXA Advisors LLC has been fined $50,000 by the Financial Industry Regulatory Authority (FINRA) and censured for its failure to supervise a broker who misappropriated $122,000 from the money market account of a customer, 70 percent of the account’s value. Letter of Acceptance Waiver and Consent The firm submitted a Letter of Acceptance Waiver and […]

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Stockbroker Steals More Than $800,000 from Disabled and Elderly

January 27, 2012  |   Posted by :   |   Investment and Regulatory News, Retirement Planning Fraud   |   0 Comments

Former stockbroker Ralph Edward Thomas Jr., who pleaded guilty to mail fraud in September, has been barred for life by the Financial Industry Regulatory Authority (FINRA) for conversion of more than $800,000 in customer funds to his own use. According to FINRA, Thomas misappropriated the money from three vulnerable customers between December 2001, and July […]

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