James Douglas Grimes
Banned by FINRA for Forgery and Misappropriating Funds
James Douglas Grimes, formerly with Washington, Pennsylvania based Financial Network Investment Corporation, submitted an offer of settlement after the Financial Industry Regulatory Authority (FINRA) entered findings that he transferred $306,000 from customers' accounts to a business account in the name of another customer without any of the customers' consent or knowledge.
consented to sanctions and to FINRA's findings that he
affected the unauthorized transfers by submitting written journal request forms to his
firm that contained forged client signatures.
wrote numerous checks payable to cash totaling $250,446, withdrew funds from the business account, and converted the proceeds for his
forged the signature of the holder of the business account on the checks.
Mr. Grimes, of Lawrence, Pennsylvania, was banned from association with any FINRA member in any capacity.
Continue reading James Douglas Grimes
Banned by FINRA for Forgery and Misappropriating Funds...
Tags: Boca Raton Florida Stockbroker Misconduct Attorney, Boca Raton Florida Stockbroker Misconduct Lawyer, Breach of Fiduciary Duty, Broker Misconduct, Brokerage Firms in the News, FINRA Disciplinary Actions, FINRA News, Failure to Supervise, Financial Network Investment Corp, Financial Network Investment Fraud Attorney, Financial Network Investment Fraud Lawyer, Forgery, Fraud, James Grimes, James Grimes Forgery Attorney, James Grimes Forgery Lawyer, James Grimes Fraud Attorney, James Grimes Fraud Lawyer, Lawrence Pennsylvania Stockbroker Misconduct Attorney, Lawrence Pennsylvania Stockbroker Misconduct Lawyer, Stockbrokers in the News, Washington Pennsylvania Stockbroker Misconduct Attorney, Washington Pennsylvania Stockbroker Misconduct Lawyer