William Jeffrey Michero (also known as Jeff Michero), of Fort Worth, Texas, a stockbroker registered with Cambridge Investment Research Inc., is the subject of a fraud investigation initiated by Texas Department of Insurance on May 17, 2022.
This is not the first time that Michero has been the subject of a regulatory matter concerning Michero’s conduct in the securities industry. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Michero has been barred from associating with any FINRA member in any capacity because Michero converted funds from a customer’s trust. Letter of Acceptance, Waiver, and Consent No. 2021072162901 (September 10, 2021).
According to the AWC, beginning in April of 2018, Michero was trustee for a beneficiary’s four accounts held away from Cambridge Investment Research. The regulator states that in May of 2018, Michero disclosed to Cambridge Investment Research that he was designated as trustee. Between April of 2018 and February of 2021, Michero transferred $263,286.40 from those trust accounts into Michero’s own accounts so that he could pay for personal expenses. FINRA found that Michero converted funds in violation of Rule 2010.
Michero was associated with Cambridge Investment Research Inc. in Fort Worth, Texas, as a stockbroker from February of 2009 to August of 2021. Public Disclosure shows that Michero was discharged by Cambridge Investment Research Inc. on August 12, 2021, based upon allegations that Michero misappropriated funds.
