Articles Tagged with Raul Enrique Jacob

He has been permanently banned by FINRA due to reports of power of attorney fraud

After only three years as a broker, Raul Enrique Jacobs needs to find another line of work. In February, the Financial Industry Regulatory Authority (FINRA) permanently barred him from acting as a broker in any capacity.

Jacobs worked for three firms, starting in January of 2012 with MetLife Securities Inc. in Orland Park, IL. In May of that year, he began working for Waddell & Reed, also in Orland Park. Jacobs then moved on to T2 Asset Management, LLC in February of 2015. He was fired from T2 when it was discovered that he had power of attorney over an outside elderly client that he didn’t tell the firm about. Jacobs later admitted that he had stolen client funds to use for his own personal benefit, which ultimately led to FINRA making its ruling.