Meyer Wilson is Investigating Former JP Morgan Broker Farid Morim for Alleged Conversion of Customer Assets
FINRA has suspended former JP Morgan Broker Farid Morim from associating with any FINRA member firm after he failed to provide information that FINRA requested as part of its investigation. According to his BrokerCheck report, FINRA was investigating allegations that Morim converted of customer assets and failed to disclose outside business activities. He was registered with JP Morgan from 2012 to 2015.
According to the proceedings, when JP Morgan discovered that Morin had added himself as power of attorney on a client's bank account, his position at the firm was terminated. The firm then launched an internal investigation into allegations that he had converted another customer's funds from a brokerage account and an affiliated bank.
In October of 2016, the FINRA Department of Enforcement suspended Morin for failing to respond in a timely manner to requests for information and documentation surrounding the allegations. In January of 2018, the FINRA Office of Hearing Officers issued a default decision barring Marin from associating with any FINRA member firm in any capacity. If no further action is taken by Morin to respond by February 23rd, the bar will become permanent.
Did You Suffer Financial Losses After Working with Farid Morim?
Unethical behavior like that which was allegedly displayed by Morim occurs all too often. Firms like J.P. Morgan can be held liable for the actions of their brokers, as they are obligated to adequately supervise the brokers that work for them.
Meyer Wilson is investigating the allegations of unethical conduct and fraudulent activities surrounding Farid Morim. If you lost money due to investment fraud or other unethical behavior, our investment loss attorneys want to speak with you. Call (888) 390-6491 to schedule a free case evaluation today.