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Raymond James Broker Scott Altman Suspended and Fined

Raymond James Broker Scott Altman Suspended and Fined

Raymond James Broker Scott Altman Suspended and Fined 150 150 Rex Securities Law

FINRA fined Scott Howard Altman, a broker with Raymond James & Associates  in RIchfield, Ohio, $5,000 and suspended him for 20 days to resolve allegations that he executed transactions in a customer account without the customer’s knowledge or authorization.

Altman received fraudulent emails from someone purporting to be the customer requesting wire transfers. Since the requested wire transfers exceeded the available cash in the account, Altman liquidated mutual funds totalling $26,000 and sold equities of $84,570 to fund the bogus wire transfers, without the customer’s knowledge or authority.

Rex Securities Law provides nationwide representation to investors 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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