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FINRA found that when questioned by his manager about the applications, Jefferies initially denied having any knowledge of the practice and when later pressured by his manager, he then offered that newer agents may have been engaged in the activity. FINRA also found that it was only after his manager noted that almost all of the applications with zeros for credit card numbers were submitted from his office that Jefferies admitted to his misconduct, stating he did so because the applications would be credited to his production numbers more promptly that month. In addition, FINRA determined that Jefferies also admitted that he had submitted applications using fictitious names and other information.
This information was obtained on FINRA’s Website.
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Roger Craig Fulton (CRD #3268583, Registered Principal, Richmond, Texas)
submitted a Letter of Acceptance, Waiver and Consent in which he was suspended from association with any FINRA member in any capacity for three months. In light of Fulton’s financial status, no monetary sanctions were imposed. Without admitting or denying the findings, Fulton consented to the described sanction and to the entry of findings that he submitted a variable annuity application and other documents to his member firm knowing that they contained falsified customer signatures. The findings stated that Fulton recommended that a customer switch a variable annuity he owned for another variable annuity, which had advantageous riders. The findings also stated that the customer agreed to the switch, but Fulton agreed to delay the switch until market conditions improved. The findings also included that Fulton determined that market conditions were appropriate for the switch on a certain date, but the customer was out of town on an extended trip at that time.FINRA found that Fulton and the customer then agreed that the customer’s relative would sign the customer’s name to the variable annuity application and the other documents necessary to complete the switch transaction, which she did with Fulton’s knowledge. FINRA also found that Fulton then submitted the annuity application and other documents the relative falsely signed to his firm as authentic, knowing that the customer’s signature on the documents was not authentic. In addition, FINRA determined that Fulton’s submission of the falsified application and other documents to his firm caused the firm’s books and records to be inaccurate.
The suspension is in effect from February 7, 2011, through May 6, 2011.
(FINRA Case #2009018041101)
This information was obtained on FINRA’s website.
If you feel you have been a victim of the alleged fraudulent schemes of Roger Craig Fulton, call a Securities Arbitration Lawyer for a free consultation on how to recover your 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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