Securities Arbitration Lawyers BlogMatthew Christopher Maczko Permanently Barred from Practicing as a Broker
The former Wells Fargo broker was banned after allegations of unsuitable trading for elderly client
On February 9, 2017, Matthew Christopher Maczko was permanently barred by the Financial Industry Regulatory Authority (FINRA) after Maczko consented to the sanction and FINRA’s findings.
FINRA found that between January 2009 and April 2016, Maczko made excessive and unsuitable trades on behalf of his elderly client, now 93 years old. FINRA also reported that Maczko inaccurately testified before FINRA that he had not spoken with other clients, also senior citizens, since his termination. However, telephone records revealed that he had in fact spoken with these clients several times in that period.