In November 2013, FINRA announced that Paul David Arnold (CRD #2278472) had been barred from the industry based upon findings that Arnold misappropriated funds by transferring $242,000 from the account of an elderly widow to a bank account in the customer’s name. Following the transfer, Arnold had the customer sign blank checks from the bank account, purportedly to pay bills. The findings stated that Arnold wrote checks totaling $173,000 made payable to his wife and son, without the customer’s authorization. Arnold failed to testify at a FINRA on-the-record interview regarding the misappropriation.
FINRA records indicate Arnold was registerered with Raymond James 9/1995-9/2011.
If you had an account with Arnold and suffered losses, you may be able to recover all or a part of those losses through FINRA arbitration.
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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