Stockbroker Barred for Stealing Client Funds

Redlands, California stockbroker John Thomes has been barred by the securities regulators for allegedly stealing over $4 million from two clients, including an elderly client who suffered from Alzheimer’s disease.

Thomes, persident of financial service firm Thomes & Associates, Inc., of Redlands, California, converted his clients’ money between December, 2010 and January, 2013, according to the financial market regulators.

Thomes siphoned the funds from his clients’ trust accounts, through more than 50 transactions.  He characterized the transactions as loans, and transferred the money to two of his friends, charged the regulators.

One of Thomes’ alleged victims was 77-year old and lived in a nursing home.  Thomes took out some $1.7 million from her trust account, substantially depleting it, according to the FINRA settlement agreement.

Cleveland securities attorney Jason Kane and New Orleans securities attorney Joe Peiffer are prosecuting cases against a number of securities broker-dealer firms for investment-related misconduct.  Investors who suspect they have been the victim of investment fraud or misconduct may contact attorneys Rosca or Peiffer, toll free at (585) 310-5140 for a free evaluation of their recovery options.

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Peiffer Wolf (1249 Posts)


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