Ane S. Plate Discharged from Wells Fargo for Allegedly Transferring Funds from Client’s Account Without Authorization

Rochester stockbroker fraud attorneyAne S. Plate, previously registered by Wells Fargo Advisors Financial Network, LLC in Orlando, Florida, executed 15 unauthorized trades in one of her customer’s account in the amount of $176,080, a FINRA Department of Enforcement investigation revealed. FINRA further alleges that Plate did not have her customer prior consent or authorization when she executed the trades in the client’s account.

Plate Padded Her Own Account with Customers’ Checks, Reportedly

Plate expedited the transfer of the unauthorized trading cash from the customer’s brokerage account to the customer’s checking account, according to FINRA. FINRA also alleges that Plate arranged for 15 checks to be issued from the client’s checking account in the amount of $132,358, which was deposited into her own personal account. Furthermore, Plate assisted a relative, and organized bi-weekly transfers from the customer’s bank account to the aforementioned account. Between December 2013 and May 2014, Plate transferred $7,700 to her relative’s account. In sum, Plate converted $140,058 from the customer, according to FINRA.

Plate Violated Industry’s Honor Code

As a result of the foregoing behavior, Plate broke FINRA’s rule which states that ”[a] member, in the conduct of its business, shall observe high standards of commercial honor and just and equitable principles of trade.”

Investment Fraud Lawyers Investigating

The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. 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 fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Broker: Ane S. Plate

Status: INVESTIGATED by Peiffer Rosca.

For brokercheck report and additional info click here!

Alan Rosca (1163 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.