In June 2014 FINRA barred Barry Lee Engen from association with any FINRA member in any capacity based on findings that he converted insurance company funds to his own use. Engen’s father did not notify the insurance company of his father’s death and continued to receive monthly payments from a single premium immediate annuity. According to the terms of the policy the payments were to end upon the death of his father.
Instead, Engen received and deposited the monthly payments and used over $238,000 in payments for his own use. Engen had not repaid the insurance company at the time of the FINRA bar and failed to cooperate with the FINRA investigation. According to FINRA records Engen was registered with Feltl & Company from 4/2007-8/2012.
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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