Brantly Chavis (CRD# 5577031), formerly a broker with OneAmerica, allegedly converted the funds of a OneAmerica customer as part of an outside business activity he failed to disclose to OneAmerica, according to FINRA. It is against securities industry regulations for a broker to use customer funds for their own purposes, and it is also against regulations for a broker to participate in business activity outside the scope of the firm without first disclosing it to the managing firm and receiving approval from that firm.
Chavis was employed with OneAmerica Securities in Santa Ana, California from June 2009 until November 2012. On November 5, 2012, OneAmerica notified FINRA it was terminating Chavis. In August 2014, OneAmerica filed an amended termination notice, notifying FINRA of a customer complaint against Chavis.
The customer complaint involved allegations of misappropriation. The customer, who at the time was 87 years old, alleged that Chavis misappropriated funds and made unsuitable recommendations for investments in a private company.
Without admitting or denying the findings, Chavis accepted and consented to FINRA’s sanction and entry of findings. He has been permanently barred from the securities industry.
If you invested with former OneAmerica broker Brantly Chavis and you lost money, we invite you to contact the investment loss attorneys at Meyer Wilson today for a free review of your case. Our firm fights to help investors recover losses caused by misconduct.