{"id":558,"date":"2009-08-19T22:11:34","date_gmt":"2009-08-19T22:11:34","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2009\/08\/finra_bars_ohio_broker_accused"},"modified":"2022-03-09T15:56:06","modified_gmt":"2022-03-09T21:56:06","slug":"finra-bars-ohio-broker-accused","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-bars-ohio-broker-accused\/","title":{"rendered":"FINRA Bars Ohio Broker Accused of Stealing $90,000 Inheritance from Two Sisters from the Securities Industry"},"content":{"rendered":"

\t\t\t\tRichard Wood, an Ohio broker, has agreed to be barred from the securities industry for allegedly committing broker misconduct<\/a>. According to the Financial Industry Regulatory Authority, the broker, working for American General Securities Inc<\/a>., allegedly stole the $90,000 that a client had left to two of her nieces. <\/p>\n

FINRA says that Wood helped liquidate the estate in 2006. He then suggested that the nieces, who are sisters, open a brokerage account and invest in bonds. He was to oversee their investments. Instead, he allegedly misappropriated the money and told the sisters to issue their checks to STL Financial, Inc., an entity that he alone controlled rather than an actual brokerage firm. <\/p>\n

The self-regulatory organization claims that Wood gave each of the sisters a bogus account number to a brokerage account that didn’t exist. He also allegedly put together more than one false customer account statement when one of the sisters became suspicious. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Richard Wood, an Ohio broker, has agreed to be barred from the securities industry for allegedly committing broker misconduct. According to the Financial Industry Regulatory Authority, the broker, working for American General Securities Inc., allegedly stole the $90,000 that a client had left to two of her nieces. FINRA says that Wood helped liquidate the […]<\/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":[3773,3752],"tags":[],"class_list":["post-558","post","type-post","status-publish","format-standard","hentry","category-broker-fraud","category-financial-firms"],"yoast_head":"\nFINRA Bars Ohio Broker Accused of Stealing $90,000 Inheritance from Two Sisters from the Securities Industry — Investor Lawyers Blog — August 19, 2009<\/title>\n<meta name=\"description\" content=\"Richard Wood, an Ohio broker, has agreed to be barred from the securities industry for allegedly committing broker misconduct. 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