The investment fraud lawyers at Meyer Wilson are currently investigating alleged misconduct by now-former Merrill Lynch financial advisor John M. James. James formerly worked at a Merrill Lynch branch office in Wayzata, Minnesota.
On December 27, 2017, the Financial Industry Regulatory Authority (FINRA), announced that it had permanently barred James from working in the securities industry. The bar comes in connection with a FINRA investigation into alleged misconduct by James while he was a stockbroker at Merrill Lynch.
Documents released by FINRA allege that:
On March 24, 2016, Merrill Lynch filed a Form U5 reporting that James resigned while under internal review for engaging in undisclosed outside business activity, private investments, and borrowing money from clients.
On October 10, 2017, FINRA staff sent a request to James to appear on November 6, 2017 for on-the-record testimony pursuant to FINRA Rule 8210. James did not appear on November 6, 2017. On November 8, 2017, FINRA staff sent another request to James for on-the-record testimony pursuant to FINRA Rule 8210. As stated in his counsel's phone call with FINRA staff on November 8, 2017, and by this agreement, James acknowledges that he received FINRA's requests to provide testimony and that he will not appear for on-the-record testimony at any time. By refusing to appear for on-the-record testimony as requested pursuant to F1NRA Rule 8210, James violates FINRA Rules 8210 and 2010.
If you or a loved one invested money with Merrill Lynch financial advisor John James and have questions about those investments, contact Meyer Wilson today to speak with one of our experienced investment fraud lawyers for a complimentary case evaluation.