Broker Sylvester King, Jr. Resigns from Wells Fargo Advisors, LLC Concurrent with FINRA Suspension

King allegedly concealed loans from the firm, among other violations

Fort Lauderdale-based broker Sylvester King, Jr. found himself in hot water with FINRA in April 2015, according to the BrokerCheck website. So much so that he resigned from his most recent employer, Wells Fargo Advisors, LLC the same day he filed his Acceptance, Waiver and Consent (AWC) letter with FINRA.

According to the AWC letter, while employed by Morgan Stanley in 2009 and lasting through 2012 when employed by Wells Fargo, King allegedly violated FINRA rules in a number of ways. First, he allegedly helped another broker conceal almost $400,000 in loans to three firm customers, and made a $25,000 loan to a customer without his firm’s permission. He was also allegedly involved in an undisclosed private securities transaction that involved eight firm customers investing more than $3 million. Then, on two separate questionnaires, he allegedly provided false information to Morgan Stanley regarding participating in private securities transactions.

Without admitting or denying the findings, in the AWC King consented to the sanctions and entry of the findings with FINRA on April 27, 2015. As a result, FINRA suspended King for a period of 18 months from acting as a securities advisor or associating with any member firm in any capacity.

If you are an investor who may have been wronged by King or another financial adviser, you may have rights and a possible avenue to loss recovery, and Silver Law Group can help. Many investors are not aware of their rights, and Silver Law Group seeks to amend that.

Our skilled and experienced attorneys are committed to helping you investigate those rights. When you work with us, you can expect a free consultation to further discuss your legal rights, and each case is handled on a contingent fee basis, meaning you will only have to pay legal fees if Silver Law Group is successful.