South Florida Arbitration & Litigation Lawyer Blog
Theft and Negligent Supervision FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq.
October, 2011:
Felipe J. Lorie (CRD #1861011, Registered Representative, Coral Gables, Florida) was barred from association with any FINRA member in any capacity.The sanction was based on findings that Lorie falsified LOAs, which caused his firm’s books and records to be inaccurate, and used the LOAs to withdraw customer funds without the customer’s authorization; these LOAs contained the purported signature of a customer and the customer’s family members and authorized the transfer of checks totaling $21,290.60 to a mortgage company and another $15,000 check to a third-party account. The findings stated that these checks were issued as Lorie requested; neither the customer nor any of his family members authorized or signed the LOAs. The findings also stated that Lorie failed to respond to FINRA requests for information. (FINRA Case #2009019867201).