(FINRA Case #2016052114701)
Benjamin James Herauf (CRD #6253620, Saint Louis Park, Minnesota) – An AWC (Accept, Waiver & Consent) was issued in which Herauf was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for six months.
Without admitting or denying the findings, Herauf consented to the sanctions and to the entry of findings that he forged a customer’s signature on four forms related to the transfer of mutual fund holdings into the customer’s account at his member firm without the customer’s knowledge or authorization.
The findings stated that Herauf then submitted the forged documents to the firm, which resulted in three separate transfers of mutual fund holdings into the customer’s firm account.
When the customer learned of the transfers, she contacted the firm. After an investigation, Edward Jones (CRD# 250) reversed the transfers and on 11/17/2016 terminated Herauf.
The suspension is in effect from December 18, 2017, through June 17, 2018.
If you feel you have been misled by a Benjamin James Herauf or Brokerage Firm and wish to discuss legal action, please contact Darren Blum at 1-877-786-2552 (1-877-STOCK LAW), www.stockattorneys.com for a free consultation.