February 2018-Woodcliff Lake, NY & Delray Beach, FL
According to The Ridgewood Blog and other local press, Jeffrey Palish, DOB 2/23/1953 of 22 Oakwood Drive, Woodcliff Lake, New Jersey was arrested and charged with Theft by Deception.
According to these reports, the Bergen County Prosecutor’s Office received information that Palish had failed to make payments on a $100,000 loan that he had received from two elderly clients of the financial institution where he was employed. Further investigation revealed that he had received over $600,000 from the clients during the prior four years. Funds were obtained through conversion of the client’s stock holdings.
Further investigation revealed that Palish initiated approximately forty unauthorized wire transfers from the clients’ bank account to make payments to his personal credit card account. The acting Bergen County prosecutor Dennis Calo stated that the charges are merely accusations and the defendant is presumed innocent unless and until proven guilty.
FINRA records indicate that Jeffrey Howard Palish was employed by Wells Fargo Clearing Services from 8/2010-11/2017. He was discharged by Wells Fargo who made the following allegation on his FINRA record: “Registered associate received funds from client.”
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
If you have questions about how your account was handled by Jeffrey Palish , call to learn how you may be able to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, 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.
Florida-561 391 1900