On April 17, 2013, the Department of Enforcement of the Financial Industry Regulatory Authority (FINRA) filed a complaint against Paul David Arnold alleging that during the period from May 2010 to April 2011, while registered with Raymond James & Associates, Arnold misappropriated funds from an elderly (88 years of age) customer by having her sign blank checks that he later made payable to his wife and son. A total of $173,600 in customer funds was taken, according to the complaint.
The customer trusted Arnold and had transferred the funds to him with the belief that Arnold would be helping him pay his bills and handle his finances.
Here is a link to the FINRA complaint. According to the FINRA website, Arnold worked with Raymond James in the Largo office from 1995-2011.
If you have questions about investment losses or the way your brokerage account has been handled, please contact us to discuss your legal rights.
Rex Securities Law , located in Boca Raton, FL, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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