Unauthorized and Prohibited Borrowing of Money from Client, Theft and Negligent Supervision FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq.
Evan Taber (CRD #1892751, Registered Representative, Plantation, Florida) was barred from association with any FINRA member in any capacity. The sanction was based on findings that Taber intentionally converted or misappropriated customer funds. The findings stated that Taber discussed with a customer an investment that would yield a 15 percent rate of return and the customer gave Taber a check for $30,000 payable to the investment; Taber deposited the customer’s check into the investment checking account. The findings also stated that the customer repeatedly called Taber to determine the status of his investment, and each time Taber reassured the customer that his funds had been invested; Taber failed to inform the customer that the investment checking account was actually Taber’s personal bank account. The findings also included that Taber did not make any investment with the customer’s funds; instead, Taber used the customer’s funds for numerous business and personal expenses. FINRA found that Taber ultimately refunded the customer’s funds, but not until FINRA began its investigation into the customer’s complaint. (FINRA Case #2010021196801).