John Michael Bannon- Customer Fund Conversion
John Michael Bannon Allegedly Converted $74,000 in Customer Funds
John Michael Bannon, during April of 2015, allegedly converted at least $74,000 in customer funds, and FINRA has been investigating said allegations, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC).
Bannon was released by Ausdal Financial Partner after the firm filed a Uniform Termination Notice recalling that Bannon had been discharged for his failure to disclose pending tax liens in a reasonable time, the AWC notes.
John Michael Bannon Allegedly Failed to Disclose Unsatisfied Liens and Judgements; Barred from Associating with Any FINRA Member in Any and All capacities
John Michael Bannon allegedly failed to disclose unsatisfied liens and judgments on his Uniform Application for Securities Industry Registration or Transfer, and also engaged in potential undisclosed and unapproved outside business activities, according to the AWC.
As a result of the aforementioned and alleged malfeasance, Brown was called to give testimony to FINRA, and failed to appear for an on-the-record interview, the AWC notes. As a result, John Michael Brown violated FINRA Rules, and subsequently has been banned by FINRA from associating with any FINRA Member Firm in any and all capacities.
The Peiffer Wolf Carr & Kane Investor Rights Lawyers Often Represent Investors
The Peiffer Wolf Carr & Kane investor rights lawyers often represent investors who lose money as a result of customer fund conversion. 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 customer fund conversion may contact the investor rights lawyers at Peiffer Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at (585) 310-5140.