FINRA Bars Former Raymond James Broker; Fines and Suspends LPL Brokers
The Financial Industry Regulatory Authority barred a former Raymond James and B. Riley Welath Management advisor who allegedly submitted falsified statements to the regulator and separately fined and suspended two ex-LPL Financial reps for purportedly falsifying signatures.
According to FINRA, from March 13, 2020, through March 1, 2021, Bradley Wastler forged or falsified the signatures of at least 99 customers on 159 account documents, and forged or falsified the electronic signature of another registered representative on 57 account documents while a registered representative with LPL. From March 13, 2020, through March 1, 2021, Robert Judge, the other former LPL rep, permitted his business partner to falsify signatures on account documents.
Wastler consented to a ten month suspension from associating with any FINRA member in all capacities and a $7,500 fine.
Judge consented to a four-month suspension from associating with any FINRA member in all capacities and a $5,000 fine.
FINRA says that from December 2022 to June 2023, Timothy Breslin provided falsified bank account statements and checks to FINRA in response to a request for documents. Additionally, Breslin made false statements to FINRA in response to a request for information and made false statements to FINRA in testimony.
Specifically, in December 2022, FINRA sent Breslin a request for information concerning the allegations in a Form U5 filed by Raymond James in October 2022. In his response, Breslin stated that he had traveled with his brother and a friend and each of these individuals wrote him a check for $5,000 to reimburse him for expenses on the trip. He claimed he deposited both checks into his bank account, but both checks bounced when he deposited them. Breslin’s statements to FINRA were false because he did not receive or deposit a $5,000 check from his brother or friend during the relevant period of the request.
The morning of his testimony, Breslin, who was then a registered representative with B. Riley, provided FINRA a falsified version of his bank account statements. FINRA says Breslin altered his account statements to inflate the running balances listed on the statements to falsely reflect deposits of the $5,000 checks he purportedly received from his brother and friend. Breslin also provided false testimony by claiming he had received and deposited checks from his brother and friend and that he had submitted genuine bank account statements and checks to FINRA.
As a result of this conduct, Breslin violated FINRA Rules.
Breslin was barred from associating with any FINRA member in all capacities.
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