FINRA Securities Mismanagement and Fraud Arbitration Attorney, Russell L. Forkey, Esq.

June, 2011:

Matthew Mark Rairigh (CRD #4364749, Registered Representative, Wintersville, Ohio, formerly licensed with Securities Management & Resources, Inc.) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Rairigh consented to the described sanction and to the entry of findings that he submitted false life insurance applications to an insurance carrier in order to generate commissions and to inflate his production numbers. The findings stated that the proposed insureds had never agreed to apply for the policies and the policies were submitted without their knowledge or consent. The findings also stated that Rairigh completed the life insurance applications, falsified the customers’ signatures, listed his business address as the address to send the next quarterly premium notice and paid the initial premium. The findings also included that after the life insurance policy was issued, Rairigh would take the policy to the customer and seek to convince the customer to keep the policy by explaining that the customer merely had to continue to pay the quarterly premiums in order to keep it. (FINRA Case #2009018240001).