Former NYLIFE Broker Accused of Participating in Outside Business Activity
Meyer Wilson’s investment fraud lawyers are currently investigating FINRA’s findings regarding former NYLIFE Securities broker Anthony Gary Epps (CRD# 1030645). According to FINRA, Epps invested his own money in a private start-up company called NJH and solicited four NYLIFE customers to do the same, conduct that violates securities industry regulations.
Without admitting or denying the accusations, Epps accepted and consented to FINRA’s findings as detailed in the Letter of Acceptance, Waiver & Consent. According to FINRA, the alleged misconduct took place between June 2010 and June 2013, and the four NYLIFE customers invested a total of $800,000 into NHJ. During this time, Epps was accused by FINRA of facilitating the customers’ investments by providing information and responding to questions, participating in meetings between the company’s managers and the customers, and helping one customer decide how to fund their investment in NHJ.
Securities industry regulations require registered brokers to disclose and get approval from their managing firm before they participate in securities transactions that are outside the scope of their employment. FINRA alleged that Epps did not get approval from NYLIFE before he allegedly invested his own money in NHJ and solicited four other investors to do the same.
Did you invest with Anthony Gary Epps, formerly of NYLIFE? If you did and you lost money, we invite you to speak with a securities fraud lawyer at Meyer Wilson. We can provide you with a free review of your case so you can learn your legal rights and options.