July 1, 2015
The Financial Industry Regulatory Authority (FINRA) entered a default decision against Jeffrey Alan Stewart barring him from associating with any FINRA member in any capacity for converting customer funds, impersonating a customer and failing to respond to FINRA requests for information and testimony. Disciplinary Proceeding 2012035316101.
According to the FINRA pleadings Stewart was registered with Valic Financial Advisors from July 2009-May 2011. In August 2011, Stewart became registered with MML Investor Services, LLC, where he remained until he was terminated in 12/2012 by MML Investor Services ” in connection with allegations concerning an unauthorized product replacement”.
FINRA found that after leaving Valic to join MML Investor Services, Stewart impersonated one of his clients and converted $54,000 from the customer’s account at Valic.
On August 24 2015, the Iowa City Press-CItizen reported that Jeffrey Alan Stewart, 52, of Neptune Beach, FL, was charged with the felonies of securities fraud , forgery and first degree theft. He posted a $30,000 bond in Johnson County Court according to the report.
If you suffered losses in an account handled by Stewart, call to discuss your legal options.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Florida-561 391 1900