William Jeffrey Michero (also known as Jeff Michero) of Fort Worth Texas a stockbroker formerly registered with Cambridge Investment Research has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he converted funds as a trustee. Letter of Acceptance Waiver and Consent No. 2021072162901 (Sept. 10, 2021).
According to the AWC, FINRA learned from Cambridge Investment Research on August 25, 2021 that it terminated Michero’s registration on August 12, 2021 founded upon accusations of misappropriation. The securities broker dealer indicated that Michero was discharged for allegedly misappropriating trust funds when he was a trustee.
FINRA determined that in April of 2018, Michero started to serve as trustee for four accounts. These accounts were held at an outside securities broker dealer and two other financial companies. The AWC states that Cambridge was informed about Michero’s role as trustee and that he was doing this as an outside business activity since 2018.
Michero was the trustee between April of 2018 and February of 2021. During that time, $263,286.40 in trust funds had been transferred by Michero into his own account. This was an unauthorized transaction. Michero’s expenses were paid with those funds, the AWC states.
FINRA determined that Michero misappropriated investor funds in violation of FINRA Rules 2010.
Michero was registered with Cambridge Investment Research between February 17, 2009 and August 12, 2021.