Wells Fargo Broker Barred by FINRA Over Improper Transfers
A former Wells Fargo broker has consented to sanctions from the Financial Industry Regulatory Authority (FINRA), banning him from the securities industry after he transferred client money to his own accounts to pay credit card bills. Scott Polish of Mentor, Ohio consented to the settlement with FINRA after admitting he made transfers from the accounts of elderly clients and used the proceeds for himself
Protect Yourself from Stockbroker Misconduct
Brokers like Scott Polish, although rare, do exist. There are several steps in an attempt to avoid becoming the victim of a similar scheme. Below are three steps that can help you avoid stockbroker misconduct.
- Receive and Review Statements | For starters, make sure you receive and review your monthly account statements, and pay particular attention to securities purchases and sales and to withdrawals from your account. Make a point to ask questions about trades or activity that seems out of the ordinary.
- Trade Authorization | Next, never allow your broker to make trades on your behalf without your permission. If your broker is required to obtain your permission before any trade, the likelihood of being victimized is reduced drastically.
- Contact an Attorney | Finally, if you suspect your broker of committing fraud, consider closing your account and contacting an experienced securities fraud attorney.
Did You Invest with Wells Fargo Broker Scott Polish?
If you invested with Scott Polish or someone like him, and believe that you have been the victim of a similar kind of fraud, contact an experienced securities fraud attorney today.
Call a Securities Fraud Attorney Today
If you are looking for an attorney to review your rights and options, the securities lawyers at Dimond Kaplan & Rothstein, P.A. have recovered over $100 million from banks and brokerages firms for their wrongful actions.
With offices in Los Angeles, they have helped stockbroker fraud victims throughout Bel Air, Santa Barbara, Newport Beach and Laguna Beach.