FINRA Has Filed a Complaint Against Broker Jeffrey Krupnick

The Sarasota, Florida broker is alleged to have improperly converted funds

The Financial Industry Regulatory Authority (FINRA) has filed a complaint against broker Jeffrey Krupnick, alleging that he converted a family member’s funds for personal use. The Sarasota broker has been working in the financial services industry for 15 years and had been employed by Ameriprise Financial Services in Sarasota since August of 2015.

He was also employed by Merrill Lynch, Pierce, Fenner and Smith in New York, New York from 2001 through 2004, Citigroup Global Markets in Venice, Florida from 2004 through 2008, Wells Fargo Advisors in Sarasota from 2008 through 2014, and JHS Capital Advisors in Sarasota from January through August 2015.

His alleged misconduct was committed during his employment at Wells Fargo Advisors. According to his BrokerCheck report, Krupnick converted more than $143,000 in funds from the account of his half-brother, who was a client of the firm, for his own personal gain. Although the Wells Fargo account was a joint account shared by Krupnick and his half-brother, FINRA alleges that Krupnick took the funds and made transfers without authorization and that he used them to pay down his credit card bills, pay for home improvements, and for other personal uses. These actions are in violation of FINRA rules 2150(a) and 2010.

Krupnick’s half-brother notified Wells Fargo by inquiring about the unauthorized transactions on the account, and Krupnick voluntarily resigned when an internal investigation was launched.

Did you trust your investments or financial planning to Jeffrey Krupnick? If so, you may be able to recover some or all of your losses. To find out more about the allegations against him, view his BrokerCheck report online. This is a complimentary service provided by FINRA.

The attorneys at Silver Law Group are leaders in the field of FINRA and securities arbitration. We represent individual and institutional investors across the United States that have lost money at the hands of a trusted financial advisor. Our services are provided on a contingency-fee basis, which means we are only compensated if there is a recovery of losses. For more information, contact us for a complimentary consultation.