Jacob Lerman – Forged Customer Signatures and Inaccurate Statements to FINRA
Jacob Lerman Allegedly Forged Customer Signatures and Provided Inaccurate Statements to FINRA
Jacob Lerman, formerly a registered representative for Univest Investments, Inc. (“Univest”) consented, without admitting or denying the allegations, to findings that he engaged in “signing a client’s name to a product sponsor application without the knowledge or consent of the client,” according to Financial Industry Regulatory Authority (“FINRA”) documents currently under review by securities lawyers, Peiffer Wolf.
Lerman entered into a Consent Order with the Pennsylvania Insurance Commission in May 2012 in which he admitted to forging customer signatures on insurance policies. He was ordered to cease and desist, pay a civil penalty of $3,000, and repay commissions earned on the forged policies, according to FINRA’s Letter of Acceptance, Waiver, and Consent (AWC).
Jacob Lerman Barred from Securities Related Business
Jacob Lerman has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any and all capacities for forging a customer’s signature on an application to open an individual retirement account and subsequently providing inaccurate written response to FINRA.
Lerman admitted to the forgery and to the fact that he did not have customer’s authorization to sign the application in his on-the-record testimony.
Securities Lawyers Investigating
Peiffer Wolf investor rights attorneys are currently investigating the alleged misconduct of Jacob Lerman.
Peiffer Wolf attorneys 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 forgery by Jacob Lerman, may contact the investor rights attorneys at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 585-310-5140.