On 8/12/2019, two customers filed disputes alleging that Hall’s wife borrowed money from them and had not yet paid it back. The loan amounts were $174,427.75 and $134,785.14, totaling of $309,212.89. The company settled the disputes for $174,427.75 and $130,000, respectively.
Edward Jones then terminated Hall on 8/14/2019, “after concerns that registered representative attempted to settle two client complaints involving lending arrangements with the registered representative’s wife without notifying the firm.” After his discharge, the firm then filed a Form U5 with FINRA indicating that they had terminated Hall for the reasons stated.
FINRA sent a letter to Hall on 2/18/2020 requesting information and documents related to his discharge from Edward Jones in accordance with FINRA Rule 8210 by March 3, 2020. Hall failed to respond to this request. During a subsequent phone call with FINRA staff, Hall indicated that he would not be providing any information or documents related to the case, now or in the future.
As a result, FINRA issued an Acceptance, Waiver & Consent Letter (AWC), which includes sanctions that include an indefinite bar in all capacities from association with any FINRA broker in any capacity. Hall signed the AWC on 6/30/2020, and the bar went into effect on 7/2/2020 after being signed by a FINRA representative.
Broker Theft Lawyers
Investors trust their advisors with their financial affairs. That trust can be broken when brokers borrow or take money from customers under the ruse of offering legitimate financial advice. Broker theft is a growing problem because of the growing elderly community. A financial advisor should never withdraw money from a client’s account for his or her own personal use. Even if a broker promises to repay the money as a loan, it violates the law and FINRA rules and regulations.
It is strictly prohibited for a financial advisor to borrow money from a client or, even steal money from a client without his or her knowledge. If you notice unexplained withdrawals on your account statements or confirmations or don’t understand unusual checking, deposit, or withdrawal history, you should contact an experienced securities and investment fraud attorney.
Did You Invest With Or Loan Money To Anthony Hall?
Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today and let us know how we can help.