Timothy James Breslin of Bryn Mawr, Pennsylvania, a stockbroker registered with Raymond James Associates and B. Riley Wealth Management, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Breslin provided false or misleading information to FINRA during the time that it investigated possible violations of FINRA rules. Letter of Acceptance, Waiver, and Consent No. 2022076523201 (August 3, 2023).
In October 2022, Raymond James reported that they had discharged Breslin for undertaking unauthorized ACH transfers into his own account and initially being dishonest about these actions. Following this, in the same month, Breslin joined B. Riley Wealth Management. However, by March 2, 2023, B. Riley also reported his discharge, citing his uncooperative behavior with a FINRA investigation and submission of counterfeit documents.
Regarding the allegations from Raymond James, FINRA reached out to Breslin in December 2022. Breslin’s explanation was that he had gone on a trip with his brother and a friend. Both of them supposedly gave him a check of $5,000.00 each to cover their share of the expenses. He said he deposited these checks, but they were returned for insufficient funds. However, FINRA found that Breslin’s claims were untrue; there was no record of him receiving or depositing those checks during the specified time frame.
In January 2023, FINRA again contacted Breslin, this time asking for the checks he had previously mentioned and their associated bank deposits. Breslin then produced three fabricated checks: one from his brother and two from his friend, with one from the friend supposedly replacing a bounced check. These checks had alterations in dates, amounts, and other details. Moreover, Breslin provided a manipulated bank statement that showed deposits of these checks, but the account balance remained unchanged, indicating inconsistency.
In June 2023, Breslin was asked to testify in the investigation. On that day, he presented another modified version of his bank account statements, this time showing modified running balances to artificially show deposits of the mentioned $5,000 checks. Breslin also falsely testified that he had indeed received and deposited checks from his acquaintances and that all documents provided to FINRA were authentic.
FINRA found that Breslin violated FINRA Rules 2010 and 8210.
FINRA Public Disclosure shows that Breslin is referenced in a customer initiated investment related complaint filed on December 1, 2010, in which the customer requested $200,000.00 in damages based upon allegations that Breslin made unsuitable recommendations of GMAC notes when Breslin was associated with Janney Montgomery Scott LLC. The securities broker dealer denied this complaint.
On March 5, 2021, another customer filed an investment related complaint involving Breslin’s conduct in which the customer requested $55,000.00 in damages based upon allegations that Breslin failed to follow instructions concerning stocks during the time that Breslin was associated with Raymond James Associates Inc. This complaint was denied by the securities broker dealer.
Breslin was associated with B. Riley Wealth Management as a stockbroker from October 13, 2022, to March 2, 2023, and associated with Raymond James Financial Services Inc. as a stockbroker from December 15, 2015, to October 6, 2022.