TAG | broker failure to diclose information on U4
Jennifer J. Guelinas (CRD #2814512, Registered Representative, Valparaiso, Indiana)
On FINRA’s website it was announced that they had submitted a Letter of Acceptance, Waiver and Consent in which she was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Guelinas consented to the described sanction and to the entry of findings that she converted at least $500,000 from the brokerage accounts of senior citizen customers of
her member firm by signing, without authorization, wire transfer requests which resulted in the conversion of the funds from the customers’ accounts to outside bank accounts she controlled and to third parties; the customers did not authorize the transfers.
The findings included that Guelinas received compensation from a rental apartment she owned
and failed to disclose the real estate investments, the compensation from the investments
or the rental income to her member firm. FINRA found that Guelinas failed to disclose
material information on her Form U4.
The findings also stated that Guelinas, without authorization, signed wire transfer requests, real
estate purchase agreements and a promissory note on senior citizen customers’ behalf.
The findings also stated that Guelinas arranged and participated in real estate investments
with senior citizen customers of her member firm and received compensation.
(FINRA Case #2010025098101)
If you have become a victim of the alleged fraudulent schemes of Jennifer J. Guelinas, call a Securities Arbitration Lawyer for a free consultation on how you could potentially recover you losses. To speak with an attorney, call 888-760-6552, or visit www.stockmarketlawsuit.com. Soreide Law Group, PLLC., representing investors nationwide before FINRA the Financial Industry Regulatory Authority.
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