Former Benjamin & Jerold Brokerage representative Juergen received a permanent bar from the securities industry after failing to cooperate with a FINRA investigation into allegations that he made unsuitable recommendations and executed unauthorized trades in customer accounts, while FINRA similarly barred ex-JP Morgan Securities LLC broker Benjamin S Johnson for failing to disclose a series of reportable financial events, including judgments and liens.
AWC #2017056035501 (Juergen Weber bar)
AWC #2017053315701 (Benjamin S Johnson bar)
According to FINRA's report, Weber (CRD #2617323) informed FINRA he would not cooperate with an investigation that he made unsuitable recommendations and engaged in unauthorized trading activity in a customer's account. Weber's BrokerCheck report indicates a previously settled dispute for $120,000 from his time at Wachovia Securities (now known as Wells Fargo), in which a customer alleged that Weber made trades without consulting with his client first. The customer also alleged that the trading and commissions paid on the account were excessive.
Meanwhile, Johnson (CRD #5742748) purportedly failed to provide FINRA requested information relative to an investigation into allegations that he failed to disclose several reportable financial events, such as judgments and liens.
FINRA imposes severe sanctions on registered representatives under investigation who fail to provide requested information, or fail to appear for on-the-record testimony.
Failing to cooperate with an investigation is an instance of misconduct that by viewing FINRA'S disciplinary system exceeds intentional acts, such as a failure to disclose complaints, financial events (e.g., Benjamin S Johnson), or conflicts of interest, all of which if left undisclosed have the propensity to harm investors.
If you have invested with such a broker or financial adviser whose failure to disclose a reportable event or conflict of interest has proven harmful to your investments or interests, or whose unsuitable and excessive trading has resulted in excessive commissions, fees, or losses, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.