Salena Lynn Woods – Alleged Misappropriation of Customer Funds
Salena Lynn Woods Allegedly Misappropriated Customer Funds and Refused to Cooperate with Investigation
Salena Lynn Woods, formerly a stockbroker with J.P. Morgan Securities, LLC, allegedly misappropriated funds from retail bank customer’s accounts, according to FINRA documents under review by securities attorneys Peiffer, Rosca, Wolf. Salena Lynn Woods failed to cooperate in the FINRA investigation.
Woods did not provide documents and information as requested by FINRA in violation of FINRA Rules on two separate occasions, according to the FINRA Letter of Acceptance, Waiver, and Consent (AWC) dated October 12, 2015. Woods did not provide any of the requested documents and information by the October 1, 2015 deadline.
FINRA then sent a second enforcement letter on October 2, 2015, requesting that Woods provide the previously requested documents and information. According to the AWC, Woods acknowledged that she received FINRA’s requests for documents and information and that she refused to cooperate with FINRA’s investigation at any point.
Salena Lynn Woods Barred from Securities Related Business
FINRA Rules require that that no member or person shall fail to provide information or testimony or permit an inspection and copying of books, records, or accounts pursuant to the rule. In addition, firms and individuals are prohibited from unauthorized use of customer funds and various other deceptions and manipulations.
Woods accepted and consented to the entry of specific findings by FINRA contained within the AWC, without admitting or denying to FINRA’s findings of fact. FINRA’s entry of findings alleged that Woods failed to comply with a FINRA investigation into allegations that Woods misappropriated funds from a retain bank customer.
For the violations, Salena Lynn Woods was barred from associating with any FINRA member in any capacity.
Securities Lawyers Investigating
The Peiffer Wolf Carr & Kane securities attorneys often represent investors who lose money as a result of stockbroker misconduct. They are currently investigating Salena Lynn Woods’ alleged misappropriation of client funds. 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 Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at (585) 310-5140.