John Michael Bannon- Customer Fund Conversion

investment fraud lawyersJohn 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 Rosca Wolf Investor Rights Lawyers Often Represent Investors

The Peiffer Rosca Wolf 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 Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1225 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.