By Robert H. Rex, Esq.
Keith M. Pasternak, a broker in the Brick, New Jersey office of Sage Financial, Inc. was suspended by FINRA for 12 months beginning 1/6/2014 and ordered to pay restitution to a customer of the firm.
Pasternak told the customer he was a victim of identity theft and asked the customer to loan him money so he could straighten out his finances. The customer loaned him $9,000 and Pasternak did not advise nor seek permission of the firm to make the loan.
Pasternak did not repay the loan and failed to timely respond to FINRA’s request for information resulting in the stated sanctions.
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