To resolve FINRA allegations that she transferred nearly $1 million from the account of a 95 year old customer, without permission or approval, Jo Ellen Fisher of Gallipolis, Ohio, accepted a permanent bar from the securities industry. Ms. Fisher neither admitted nor denied the allegations, which include:
- Between 7/5/1013-12/13/2013 Fisher converted over $924,000 from the account of a 95 year old customer by transferring cash and securities to Fisher’s daughter’s account
- The funds which were taken without the consent of the customer were used by FIsher to purchase automobiles, jewelry worth over $162,000, renovations to her home that cost over $165,000 and other personal expenses
- FIsher provided her firm a falsified “Godparent’s Certificate” and falsified client notes to create the deceptive appearance that the elderly customer intended to gift the cash and securities to Fisher
- During her testimony to FINRA Fisher falsely claimed to be the goddaughter of the elderly client. When during testimony Fisher was informed that the client notes were fictitious, she refused to answer any further questions
Fisher was terminated by Raymond James in May 2014 when the firm learned of the matter.
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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