{"id":1662,"date":"2015-06-15T13:27:19","date_gmt":"2015-06-15T13:27:19","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/06\/finra_pursues_broker_for_alleg"},"modified":"2015-06-15T13:27:19","modified_gmt":"2015-06-15T13:27:19","slug":"finra-pursues-broker-for-alleg","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-pursues-broker-for-alleg\/","title":{"rendered":"FINRA Pursues Broker For Allegedly Trying to Bilk Elderly Investor with Alzheimer\u2019s of $1.8M"},"content":{"rendered":"

\t\t\t\tThe Financial Industry Regulatory Authority Inc. has filed an elder financial fraud case against broker John Waszolek, who worked for UBS Wealth Management (UBS)<\/a> at the time of the allegations. According to the self-regulatory organization, in 2009, Waszkolek took advantage of an 81-year-old client when he had her appoint him as a beneficiary of her trust even though she lacked the “testamentary capacity” to make such decisions and would not have been able to protect herself from exploitation. Testamentary capacity refers to a person’s mental and legal ability to make or modify a will. <\/p>\n

The elderly widow lived by herself and had been a client of Waszolek since 1982. However, contends FINRA, it wasn’t until 2008 as her health worsened that the broker allegedly began to go above and beyond his professional obligation to her. He was the one that purportedly took her to see the doctor, who diagnosed her with Alzheimer’s. The regulator also says that he met with an estate planning lawyer so that he could be appointed as his client’s agent and given power of attorney. He wanted her trust modified so that he would be named the residual beneficiary.<\/p>\n

When the estate planning lawyer refused because the elderly women lacked testamentary capacity, Waszolek purportedly suggested that his client see another lawyer. The amendment made to her trust would cause some $1.3 million that was supposed to be divided among four charities to go to the broker instead. That figure would eventually go up to $1.8 million.
\n Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Financial Industry Regulatory Authority Inc. has filed an elder financial fraud case against broker John Waszolek, who worked for UBS Wealth Management (UBS) at the time of the allegations. According to the self-regulatory organization, in 2009, Waszkolek took advantage of an 81-year-old client when he had her appoint him as a beneficiary of her […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3803,3755],"tags":[],"class_list":["post-1662","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-senior-investors","category-ubs"],"yoast_head":"\nFINRA Pursues Broker For Allegedly Trying to Bilk Elderly Investor with Alzheimer\u2019s of $1.8M — Investor Lawyers Blog — June 15, 2015<\/title>\n<meta name=\"description\" content=\"The Financial Industry Regulatory Authority Inc. has filed an elder financial fraud case against broker John Waszolek, who worked for UBS Wealth — June 15, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, 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