FINRA Files Disciplinary Charges against Jonathan A. Francis

Jonathan A. Francis, of Brooklyn, New York, was named a respondent in a FINRA complaint alleging that he assisted third parties who improperly took over $200,000 in cash from customers’ accounts without the customers’ knowledge or consent. Jonathan Francis was previously registered with J.P. Morgan Securities, LLC.  The complaint alleges that Francis issued automatic teller machine (ATM) cards in six dead customer’s accounts and an ATM card for the account of a customer who subsequently complained of an unauthorized withdrawal of funds from his account.  Francis knew that the distribution of the unauthorized ATM cards was part of an overall scheme to convert funds from bank customers. Francis resigned from the bank and his firm before they could interview him about it hindering their investigation. The complaint also alleges that Francis failed to respond fully to FINRA’s requests for documents and information, and failed to appear for his continued on-the-record testimony. (FINRA Case #2013038988301)

We are currently involved in multiple cases against brokerage firms for mismanagement of elderly investors’ accounts and/or improper conflicts of interest between the financial advisor and the customer.  We routinely work closely with estate planning attorneys to help resolve disputes between family members regarding the management of an elderly family member’s financial affairs and we are frequently consulted regarding the improper sale of securities or mismanagement of the portfolio by a fiduciary, trustee or other trusted advisor.

Silver Law Group represents the interests of investors who have been the victims of investment fraud.  If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.