Allan Jeffrey Corby Allegedly Failed to Disclose Outside Business Activity with the Patraeus Group
Allan Jeffrey Corby, formerly of Equity Services Inc (ESI), allegedly engaged in an outside business that was inconsistent with previous representation to the firm, and thus resulted in his termination, according to a recent FINRA Letter of Acceptance, Waiver, and Consent (AWC).
Between October 2009 and October 2010, Corby allegedly failed to provide written notice to ESI that he was a partner in an outside business called The Petraeus Group (TPG), the AWC further alleges. Furthermore, in October 2010 Corby also reportedly gave notice to ESI that he was taking part in an outside business with TPG, which he described as a non-securities related tax and consulting service, the AWC notes.
However, TPG also reportedly raised capital and debt for startups and existing businesses, and Corby allegedly did not provide notice to ESI of these additional activities until at least September 2011.
Corby’s Alleged Unreported Outside Business Activity with Patraeus Leads to Fine and Suspension
As a result of failing to fully disclose the nature of TPG‘s business to the ESI, Corby, who entered the securities industry in 1990 when he joined a subsidiary of Connecticut Mutual Life Insurance Co., violated NASD and FINRA Rules, the AWC reports.
The AWC further notes that Corby’s alleged violations have led to a five month suspension from associating with any FINRA-regulated entity in any capacity, and fine of $5,000.
Investment Rights Lawyers Investigating
The Peiffer Rosca Wolf investment rights lawyers often represent investors who lose money as a result of investment misconduct. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of investment misconduct may contact the investment rights lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.
Broker: Allan Jeffrey Corby
Status: INVESTIGATED by Peiffer Rosca.
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