Tag Archives: SunTrust Investment Services

Phillip Johnson- Former SunTrust Investments Services Broker- Discloses 4 Regulatory Events, 2 Customer Disputes and a Termination- Kingwood, TX

April  2019 – Kingwood, TX

According to publicly available records  Phillip Andrew Johnson (CRD# 501352) ,  a  former stockbroker who was last  employed by D.H. Hills Securities,  disclose 4 regulatory events, 2 prior customer disputes and a termination.

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.

In 9/2018 Johnson was permanently barred from the securities industry by FINRA for failing to respond to a FINRA request for information in connection with an investigation into an alleged loan of over $500,000 Johnson made from a customer of SunTrust Investment Services.  According to FINRA Johnson made an inaccurate statement on the firm compliance questionnaire related to borrowing from a firm customer.

Johnson had previously been sanctioned for borrowing from a firm customer without the approval of his firm in 2015.

In 5/2017, a customer of Suntrust Investment Services, Inc., was paid a settlement of $525,000 to resolve allegations that Johnson induced her to liquidate a $540,000 annuity and invest in real estate with him and to make him a personal loan.

Johnson was employed with Suntrust Investment Services, Inc. from February 2003 until May 2015 when he was allowed to resign after the firm learned that Johnson had borrowed from a customer.

Johnson was  employed with D.H. Hill Securities from April 2016 until December 2017.

If you have losses in an account handled by Phillip Andrew Johnson, contact us for a no charge consultation to learn how you may be entitled 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

FINRA Announces November 2012 Disciplinary Actions

 

The Financial Industry Regulatory Authority (FINRA) issues a report on disciplinary and other actions involving registered brokers, investment advisers and brokerage firms every month.

Here are significant Florida related actions for November 2012. Follow this link to the FINRA website for the entire report for actions nationwide for the month of November 2012 as well as to access  earlier time periods.

Raymond James & Associates (St. Petersburg, Florida)-censured and fined $250,000 for failure to safeguard against the unauthorized disclosure or personally identifiable information about firm customers after a customer complained that her firm account number and other personal information was available on the internet.

Charles Eugene Bishop, Jr.-Pompano Beach, Florida- was fined $7,500 and suspended from association with any FINRA member in any capacity for two years. Bishop consented to the described sanctions and to the entry of
findings that he attempted to misappropriate approximately $3 million from an elderly customer of his member firm. Bishop created paperwork by which the deceased customer’s assets would be transferred to a purported entity that was never formed, but whose name was virtually identical to a company the customer owned, with a tax identification number assigned by the Internal Revenue Service (IRS) to another entity that was never formed, but whose sole member, according to IRS records, was Bishop.

After the customer passed away, Bishop, through his attorney, filed a notice with a Probate Division with his state’s Circuit Court representing that he had an interest in the customer’s estate as a claimant and beneficiary of the deceased customer’s estate.

The suspension will be in effect from December 3, 2012, through December 2, 2014. According to FINRA records, Bishop is not currently registered. His last industry position was with Merrill Lynch. Prior to that he worked for Morgan Stanley.

Robert Joseph Eanell-St. Petersburg, Florida-was fined $7,500 and suspended from association with any FINRA member in any capacity for 30 business days. Eanell consented to the described sanctions and to the entry of findings that he misrepresented his educational background to prospective securities customers, including on his business cards. The findings stated that on annual forms, Eanell’s member firm asked him to identify all of the degrees, titles and designations that he used on letterhead, business cards or in communications with clients. Nevertheless, Eanell failed to disclose the fact that he held himself out as the holder of a doctoral degree.

The suspension was in effect from October 1, 2012, through November 9, 2012. According to FINRA records Eanell is no longer registered. He last worked for Sterling Enterprises Group. Prior to that he was with GunnAllen and AXA Advisors.

Evan Coley Eggers-Jacksonville, Florida-was fined $5,000 and suspended from association with any FINRA member in any capacity for six months. Eggers consented to the described sanctions and to the entry of findings that he made premium payments for his customers’ life insurance policies, using his personal funds to make the payments. The findings stated that each payment was submitted to his member firm via a money order, a practice forbidden by company policy. On each money order, Eggers falsified the customer’s signature. On a couple of occasions, Eggers falsified the customer’s signature to reduce the value of a life insurance policy. The findings also stated that all insurance policies at issue were less than one year old. By continuing payment of the premiums, all policies remained active through a period of 13 months, thus qualifying Eggers for potential remuneration.

The suspension is in effect from October 1, 2012, through March 31, 2013.

FINRA records indicate that Eggers is no longer registered. He last worked for Northwestern Mutual Investment Services.

Ellen Joyce Erenstein – Boynton Beach, Florida- was barred from association with any FINRA member in any capacity.  Erenstein consented to the described sanction and to the entry of findings that she failed to respond to FINRA requests to provide testimony concerning customer complaints prior securities customers and their heirs had filed against her.

FINRA records indicate that Erenstein is no longer registered having last worked for Workman Securities.

Brennan R. Lollar -St. Petersburg, Florida-was
barred from association with any FINRA member in any capacity. The sanction was based on findings that Lollar misappropriated funds from a bank where he worked as a branch manager. The findings stated that without the bank’s permission or authority, Lollar transferred funds into customers’ accounts and labeled the transfers as refunds of bank fees. No bank fees had ever been assessed to the customers, and Lollar knew the customers were not entitled to any refunds. Through a series of several small transactions, Lollar misappropriated a total of $3,242.90 into customers’ accounts. The findings also stated that Lollar admitted to the bank that he issued the false refunds and claimed that he did
so to assist, or to curry favor with, certain customers. The bank obtained reimbursement through the liquidation of Lollar’s retirement fund. The findings also included that other
than Lollar providing FINRA with a photocopy of a written statement previously provided to the bank admitting to certain aspects of his misconduct, he did not respond to FINRA requests for information and failed to appear for a FINRA on-the-record interview.

Brennan last worked for SunTrust Investment Services and is no longer registered per FINRA records.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870