Bryan Carnahan, formerly with Huntington Investment Company in Columbus
OH, has been accused of misappropriating customer funds.
The securities fraud lawyers at Meyer Wilson are currently investigating
accusations that former Ohio broker Bryan Carnahan (CRD# 3103811) misappropriated $169,500 from a Huntington customer.
From September 2013 to March 2015, Carnahan allegedly misappropriated $169,500
from one of his customers. Regulators claims that Carnahan then deposited
approximately $149,000 of the converted funds into the accounts of some
of his other customers who had suffered losses. It is also alleged that
Carnahan used what remained of the misappropriated funds for his own benefit.
The Financial Industry Regulatory Authority (FINRA), the self-regulatory
organization that oversees brokerage firms, states that Carnahan took
the $169,500 through a series of five fund transfers from the customer’s
Huntington brokerage account to the customer’s account at Huntington
bank. Once the customer’s money was in the bank account, Carnahan
allegedly told his client to withdraw the money in the form of cashier’s
checks for what he claimed were new investment opportunities.
Letter of Acceptance, Waiver, and Consent, FINRA accuses Carnahan of taking his client’s cashier’s checks
and re-issuing them so that they were payable to his own account as well
as the accounts of 13 other of his clients that had suffered investment
losses. Carnahan has been barred from the securities industry.
According to the AWC, the conduct Carnahan is accused of violates, among
other things, FINRA Rules 2150 and 2010. FINRA Rule 2150 prohibits brokers
from improperly using a customer’s money and/or investments. FINRA
Rule 2010 requires registered brokers to “observe high standards
of commercial honor and just and equitable principles of trade in connection
with their business.”
Meyer Wilson’s broker fraud attorneys are currently investigating
these misconduct claims involving Bryan Carnahan of Huntington Investment
Company in Columbus, OH. If you invested with Carnahan and lost money,
we invite you to contact us today for a
free case evaluation.