The securities fraud attorneys at Meyer Wilson are currently investigating
claims against former broker Jeffrey E. Krupnick (CRD# 4307569).
According to the Financial Industry Regulatory Authority (FINRA), Ameriprise
Financial Services, Inc. broker Jeffrey E. Krupnick (CRD# 4307569) has
been named a respondent in a FINRA complaint for allegedly converting
a firm customer’s joint account funds for his own personal benefit
without first receiving authorization from the customer. Krupnick has
been registered with Ameriprise Financial Services in Sarasota, FL since
The FINRA Department of Enforcement complaint alleges that while Krupnick
was registered with Wells Fargo Advisors, LLC in Sarasota, FL, he reportedly
converted over $143,000 from his half-brother and firm customer for his
own personal benefit between January 2012 and November 2014. By doing
so, Krupnick violated FINRA Rules 2150(a) and 2010.
In July 2011, Krupnick’s half-brother became his brokerage customer.
Krupnick opened a joint brokerage account, along with seven other brokerage
accounts he acted as the representative of record for.
According to FINRA, Krupnick used some of the funds in the joint account
to make purchases on behalf of his half-brother, but used the majority
of the funds to pay for personal expenses like home improvements and paying
down his credit cards. None of the alleged transfers, payments, or withdrawals
Krupnick used to pay for his personal expenses were authorized by his
In November 2014, his half-brother contacted Krupnick’s supervisors
at Wells Fargo to notify them of unauthorized transactions and to report
that he was having trouble obtaining copies of monthly statements and
was unable to access his accounts online. Wells Fargo began an internal
investigation into the allegations, during which time Krupnick resigned
from Wells Fargo.
Contact our securities fraud attorneys at Meyer Wilson today if you lost
money investing with Ameriprise Financial Services broker Jeffrey E. Krupnick.
We offer free consultations to discuss your potential claim, and handle
our cases on a contingency fee basis, so you won’t be charged any
fees unless we help you recover your losses.